What Bailouts Mean
Seems that for AIG it means time to party.
Just another example of how rushed the bailout procedure was in the United States, where AIG gets bailed out to the tune of EIGHTY BILLION TAX PAYER DOLLARS, and so the big shots enjoy time at an exclusive spa.
(CBS/ AP) Less than a week after the federal government had to bail out American International Group Inc., the company sent executives on a $440,000 retreat to a posh California resort, lawmakers investigating the company’s meltdown said Tuesday. (source - CBS News)
Now, I don’t know but if I was an American Taxpayer, I’d be asking for my money back. Seriously, how does anyone explain this absolute nonsense? They needed a bailout, they were about to go under, and so the Bush Administration gives them EIGHTY FIVE BILLION and they don’t say thank you, they send some execs off to an exclusive resort, to be pampered.
And for all you Harper Fans, here is a little quote from the head of Lehman Brothers.
Richard S. Fuld Jr., chief executive officer of Lehman Brothers, declared to the committee “I take full responsibility for the decisions that I made and for the actions that I took.” He defended his actions as “prudent and appropriate” based on information he had at the time. (source - CBS News)
Sound familiar? Like isn’t that exactly what Stephen Harper said yesterday about his economic plans, about giving away FOUR HUNDRED MILLION TAX PAYER DOLLARS TO SHORE UP THE AUTO & AEROSPACE INDUSTRY?
This is the problem with Conservatives like Harper, like Bush. They are only interested in helping their friends, not in insuring that they spend our money wisely, or in ways that actually benefit all of us. Instead they spend our money to further the greed of the companies that put the world economies into turmoil.
ANYONE BUT HARPER
Sphere: Related ContentIan @ October 8, 2008