Sunday, March 22, 2009

$173 Billion and counting for AIG

Excellent article that highlights the billions transferred should be the outrage. Not the million dollar bonuses.

"A few people on Capitol Hill moan and groan but there is popular agreement on the wisdom of this transfer of ONE HUNDRED AND SEVENTY THREE BILLION dollars from the taxpayer to the financiers. But when AIG itself pays out $165 million in bonuses -- money it is contractually obliged to pay -- the entire political system goes insane. President Barack Obama says he’s going to find a way to abrogate the contracts and take the money back. "

http://www.bloomberg.com/apps/news?pid=20601039&sid=atlHxXH7FweQ&refer=home

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