19 April 2009

Not Enough Bullets: AIG AND Goldman Sachs

Gee, it appears that the trustees that were appointed to keep the government from "interfering" in the affairs of AIG when they were taken over managed to select a man who owned over $3 million in stock in Goldman Sachs.

This might explain why AIG CEO Edward Liddy was so eager to pay back Goldman Sachs at 100¢ on those bogus AIG credit default swaps (CDS).

Seriously, just how much corruption and self dealing is Obama/Geithner/Summers going to tolerate before they start looking at criminality?

This is a lot worse than a, "$6000 gold-and-burgundy floral patterned shower curtain," and the idea that the taxpayer can't place conditions on aid, because the CEOs will choose their own pay over the well being of the taxpayer is the active and open looting of these companies by senior management.

It should be viewed as a criminal act.

I'm not saying that senior management cannot quit, but I am saying that if they are unwilling to act in the best interest of the shareholders, they should be fired.


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