While everyone is upset over the AIG bonuses, hardly anyone is mentioning the fact that about half of all the money given to AIG is going to FOREIGN BANKS! The bonuses amount to less than a drop in the bucket of all the taxpayer money being doled out.
This is the real outrage . . . and hardly anyone is talking about it.
Is the silence part of the "global agenda" -- to put us all under "one world" rule?
The solution to all -- the bonuses and American bailout of foreign banks -- is BANKRUPTCY.
The CREDITORS through the bankruptcy trustee would have taken over rather than the government. The Creditors who have the most to lose, would have an incentive to make things work. The Creditors are more likely to know what they are doing than the government is. The taxpayers would have been off the hook.
1 comment:
I think what has happened is that AIG has ceased to exist as an actual business, and has become a conduit by which the government bails out AIG's creditors. The idea is to prevent further collapses, not by propping up AIG itself, but by propping up those to whom AIG owes money. The people who invested in AIG have basically been wiped out already.
As for bailing out foreign banks, that also appears to be a feature, not a bug - an attempt to retain the confidence of foreigners in the US and the US Dollar so they'll keep buying our debt (and our inflation).
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