If the Democrats are so different than the Republicans, why did they not prevent this and similar wastes of our money?
http://www.ritholtz.com/blog/2008/11/aig-the-looting-continues-banana-republic-watch/ AIG: The Looting Continues by Yves Smith "....But the worst is that not only was the initial AIG de facto bankruptcy a case of looting, the government has now decided to aid and abet AIG management in further looting. What pro-taxpayer purpose is there in the improvement of terms above? None. As we pointed out, there were only a couple of reasons for easing up on AIG, and they could have been provided for with minor changes that would not leave the taxpayer materially worse off. Instead, major concessions have been made to AIG, all to the detriment of the taxpayer. AIG management now has job security for five years (and AIG top brass is very well paid) and better odds of salvaging something for themselves when the five years are up thanks to the government giving them an unwarranted subsidy...." _______________________________________________ http://www.mccmedia.com/mailman/listinfo/brin-l
