Not sure how many people saw the news item of AIG wanting to sue the New York Fed for ‘bailing’ it out of the fiscal mess.
Well it is not AIG, but its ex CEO Mr. Hank Greenberg who controls Starr International who is keen on the suit filing.
If you are an American tax payer you SHOULD BE DISGUSTED WITH the very thought, right?
Well, not so fast.
What happens if a company goes under? well its shareholders suffer – old and new shareholders suffer, right?
Hell no. It is the lenders who suffer – after all they would have got NOTHING but for the bail out.
Who were the ‘beneficiaries’ of the bail out? Hmmmmm
Goldman Sachs, is as much guilty of benefiting from the bail out – is clearly one of the beneficiaries.
makes interesting reading…please also read the links thereon…
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