I was surfing some financial blogs and came across this. I am not an expert but is this illegal or just immoral? Has anyone seen any thing about this. In other words is it true. I wish that someone who knows more than I do would investigate this. I have a very uneasy feeling that we have been scammed more than we realise.
1 posted on
03/29/2009 5:38:35 PM PDT by
oldtimer2
To: oldtimer2
To: oldtimer2
This is silly. How could banks which took billions in welfare from taxpayers not be profitable?
3 posted on
03/29/2009 5:43:56 PM PDT by
pnh102
(Save America - Ban Ethanol Now!)
To: oldtimer2
All is fair in love and war, and I guess now in banking when it comes to socialism.
4 posted on
03/29/2009 5:54:36 PM PDT by
2001convSVT
("Only Property Owners that pay taxes should have the right to Vote")
To: oldtimer2
I just forwarded this to some people who “should know”! They will not be at all happy!
5 posted on
03/29/2009 6:07:14 PM PDT by
WellyP
(obama must go!)
To: oldtimer2
This whole mess is becoming more clear and more depressing daily. If you think CDO’s and how they were rated and sold is scandalous check out the synthetic CDO’s, check out how these banks manipulated oil prices. Consider how the gubment allowed this ,cheering them on. Check out who were the big contributors for reelections. Check out how all the big news organizations rooted for the banks. Who was watching our backs. Where was the investigative reporting? Where were you Cavuto? Where were you Kudlow? We’re getting close to the time for all good men to come to the aid of their nation.
6 posted on
03/29/2009 6:11:40 PM PDT by
rsobin
To: oldtimer2
If this is true, it is scary that they think we are that stupid, and it is scary that the markets went up in response to claims of profits.
11 posted on
03/29/2009 7:14:02 PM PDT by
Defiant
(One Big-Ass Mistake, America!!)
To: oldtimer2; nyconse; kidd
Thank you for posting this oldtimer2, I was wondering how AIG-FP was unwinding their portfolio, and suspected that it was not on the best of terms; per AIG's 2008 10-K AIG-FP lost $41
BILLION dollars. I will be fun to read the Q1 10-Q. The 400 plus AIG-FP employees have been paid about $500,000
each (on average) in bonuses, which led to the recent hue and cry, and attempts to tax away these bonuses.
I've been wondering whether or not is was really necessary to pay these guys (the guys who caused AIG's September liquidity crisis) this much money to unwind the book and I wondered how good a job they were doing; and the answer seems to be, not a very good job.
In the AIG bonus scandal threads most posters here seemed think that these guys were being unfairly picked upon, that they were Ayn Rand heroes, (Ayn Rand heroes who made 66% of their political contributions to Democrats in the last election cycle) that they had already "saved" the taxpayer some $1.1 trillion, that no one else could do the job that these "talented" employees were doing. If you are willing to give away the store, anyone can unwind the book.
To: oldtimer2; PAR35; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; Roy Tucker; ...
15 posted on
03/30/2009 5:07:02 AM PDT by
TigerLikesRooster
(from "Irrational Exuberance" to "Mark to Zero": from '96 to '09)
To: oldtimer2
16 posted on
03/30/2009 5:15:10 AM PDT by
DuncanWaring
(The Lord uses the good ones; the bad ones use the Lord.)
To: oldtimer2
If this is all true, then these folks at AIG, Geithner, and
his boss ought to all be in jail for fraud and theft of taxpayer money.
They used to hang people for robbing banks. These thieves are stealing the entire banking system and our money with it!
17 posted on
03/30/2009 5:35:32 AM PDT by
Gritty
(Congress' new operating procedure is business as usual with three extra zeros on the end-Mark Steyn)
To: dennisw
Ping, not sure what all this means (pretty high on the jargon-o-meter), but it sure sounds like AIG is being used as the Gov’t to Bank laundering scheme.
23 posted on
03/30/2009 6:27:11 AM PDT by
Betis70
(Go UConn)
To: oldtimer2
How about water-boarding these scheming rascals?
When will the truth come out?
24 posted on
03/30/2009 6:28:11 AM PDT by
pointsal
To: oldtimer2
wow!
just in time to inflate the el presidente.
25 posted on
03/30/2009 7:05:21 AM PDT by
ken21
(the only thing we have to fear is fdr deja vu.)
To: oldtimer2
Zero hedge is a good website
29 posted on
03/30/2009 9:31:29 AM PDT by
dennisw
(0bomo the subprime president)
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