Sunday, October 5, 2014

Aig bailout

“If they were going to pay par out they didn’t need your help, correct?” asked Boies.
“I don’t know what was in their heads,” Baxter replied.
"The counterparties also were protected from lawsuits from misrepresenting assets to AIG, Baxter testified."

WOW! So AIG could not sue the banks after paying 100% face value on bad debt. Even if the banks FRAUDULENTLY misrepresenting the assets. This is exactly what has happened to fannie and freddie. The FHFA has accepted 10 cents on the dollar for fraud against F&F ending any litigation for fannie in the future against THE BANKS. 

I hope you can see, with your eyes wide open, this is a shell game. Look away be distracted and you are fooled. The banks were all failing. PLS was failing. AIG and F&F were the answer to prevent a run on the banks and ALL of the banks ending in bankruptcy. 

Keep your eyes on the prize. The truth is always the simplest of answers to what happened. 

When Alvarez testified that he couldn’t say whether the government had the authority to purchase equity because “’purchase’ is too ambiguous a term, Boies pointed to a different answer Alvarez gave in a deposition.

We all know what PURCHASE means. It means you payed for ownership of/in something.
The US treasury cannot have ownership in any company. It is illegal. Ownership in a US corporation would give it an unfair advantage in the marketplace. 


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