In 2008, GE was desperately calling the US Finance secretary to say ‘we are about to default’
AiG was bailed out so that Goldman Sachs could be saved
AiG was paying its traders (hold your breath 30% of Revenue) for bringing deals, mind you not a %age of profits, but gross revenue
JP Morgan, Morgan Stanley, Citigroup,Goldman Sachs, – none, none bothered to reward people who showed constraint.
Even today MS has behaved with the same greed in the Facebook case, right?
However, where did it all start? what is the history?
Should you trust an Obama (remember the greed story had a mix of white, black, brown, yellow…..skin!)
read on..a brilliant small, dejargonised summary of the events of 2008…in Forbes
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