Ex-Treasury Secretary Paulson says AIG bailout was punitive
All you that bash AIG are being fooled by your government. Aig was taken and used as a bad bank for the TBTF banks. Aig had to be used because NO ONE could run on banks of AIG. But if your govt told you jpmporgan CHASE was going under on monday, you all would have run to the banks and removed all your money. This is classic shell game. Any of you going to withdraw your money from AIG? Your savings? Your money market? NO. cause you couldnt. but you could goto citibank and do just that. Dont be a fool. Understand every large bank was about to collapse. AIG was a bailout of the banks, not that AIG did wrong or was insolvent. AIG was the insurance against the bad loans that YOUR banks wrote. AIG was the one that was LIED to by the banks and the PLS market that they insured. YOUR BANK was the culprit. CITI, CHASE, Goldman, Morgan, Wamu, the list goes on. Everyone of them was bankrupt in less than 7 days if not for the takeover of AIG. Not cause of AIG's neglect but YOUR BANKS FRAUD. Know the story, quit continuing the lemmings story of the treasury. I own zero shares of AIG, but I can tell you believing the govt narrative is a LIE. Be an american and understand the second amendment was to protect you from your govt, NOT about guns. Start using your first amendment rights. Call these guys out for what they are. Crooks. Vote all incumbents out of office. Its time to get new faces in washington.