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Bailed-Out AIG Forcing Poor to Choose Between Running Water and Food

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posted on Nov, 27 2009 @ 03:19 AM
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Bailed-Out AIG Forcing Poor to Choose Between Running Water and Food


www.alternet.org

What are we getting in return for the bailout? So far, predatory credit card rates, exorbitant bank fees and obscene Wall Street bonuses. But we're being robbed in other, sneakier ways, too. It seems that taxpayers in the poorest, most vulnerable parts of the county are getting plundered by the same institutions they bailed out. One example is AIG's underhanded fleecing of residents of rural Kentucky.
(visit the link for the full news article)




posted on Nov, 27 2009 @ 03:19 AM
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WOW! So our tax money is now going to helping monopolies expand? This is inhumane behavior on the part of anyone, much less a government funded entity.
This should incite people to seriously question AIG and the bailouts yet again. These b@stards should be taken to task for their wrongdoing, this is vile.

www.alternet.org
(visit the link for the full news article)



posted on Nov, 27 2009 @ 04:15 AM
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This is how i knew it was all gunna be going,, in business standards* the FEDS okayd taxpayers bailout for them,t hey got cuaght refurbishing thier homes(may they all burn down to the ground from public anger) and now, this... the FED will obey and heel to companys like AIG, while we get less than tablescraps. criminals, literally, in and of the word..AIG and others shuold be bought up on charges of theft on a global scale, and face something like the neuemberg trials.



posted on Nov, 27 2009 @ 04:17 AM
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This could be why taxes are goin up..to fund AIG and their buddes, not to help pay for that new repaved road, or citizen programs...its all to fund the corporations and insurance bussiness, moreso so the CEO's get thier cut.



posted on Nov, 27 2009 @ 04:34 AM
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reply to post by Happyfeet
 


Vile is the right word, but it should incite people to do more than question AIG and the bailouts.


And as our cities and states start leasing out and selling public infrastructure to pay off their municipal debts, we can expect banks to gain more control of public wealth. Middlesbro and Clinton are a glimpse into the future of post-privatized America.


Last month they announced on the news (here in Chicago) that our esteemed Mayor Daley
who has already hurt us buy selling off our parking meters to a private company is considering selling of our water also
. Of course he wouldn't comment on it and he won't until he's already done it.

The only way we're going to stop this madness is to get these power hungry, greedy politicians that are in bed with these bankers and corporate CEO's out of office, and turn this country back around.

www.alternet.org...



posted on Nov, 27 2009 @ 04:47 AM
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A similair thing is happening here in the UK to give an example I had a deal with my motgage company The Royal Bank of Scotland the rate was 4.8% base rate tracker.

Damm good rate was happy with it then a few months ago that deal ran out after taking billions from the goverment I could not get a rate lower than 5.8%. We wanted a loan the lowest rate was 11.9% 5 years ago we had a loan at 8%.

It seems to me that the bank, utilities ect took all this money and need to find some way to pay it back. So how to pay it back and still get high bonuses hmmmm.

Ok lets put up all the interest / utilites rates so that we pay back the money from the tax payers by having them pay it themselves.

I seen an advert on the TV that I could not believe and had to watch it twice to be sure. One of these get your paycheck before its due kind of things the interest rate was 2255% APR
Source

Click on APR calculation I was amazed. I have never used any of these companies and never will but its a good example of how companies are ripping people off and getting away with it.



posted on Nov, 27 2009 @ 09:19 AM
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Perhaps now people can start to see that the bail-outs had nothing to do with socialism, communism or Marxism, but was simply a ploy to continue pushing a failed capitalist system into what George Orwell said was the inevitable result of free market theory: corporatism. Corporatism, close to economic fascism, had been masquerading in this country under the 'progressive corporatist' moniker to make it seem more appealing to those of left wing sympathies. Hence, the system of the Federal Reserve Bank, which is run not by our government but by the denizens of Wall Street. Spread the wealth around, as long as it's among those at the top of the economic food chain. AIG, which has been tied to the US government since the days when it grew out of an OSS office during wartime, is simply another form of elitist control. When it doubt, follow the money trail: AIG, connected to the government from it's espionage insurance days to it's involvement in Latin American drug running, was the largest trading partner of Goldman Sachs, whose campaign contributions to Barack Obama ran at $369,078, and yet was also tied to the Bush administration via Henry Paulson, the Goldman CEO who became Bush's Treasury Secretary. What many have forgotten than it was during the closing months of the Bush administration that Paulson convinced George W. to bail out AIG.

Of course, as money blows freely in the wake stirred up by the revolving door between Wall Street and Washington, people forget about those at the bottom of the food chain, grasping like straws in the wind.

Interesting article:

Obama and the Reawakening of Corporatism



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