AIG: Blank Check from Taxpayers as Conflict of Interest/Wall Street Corrupton Continues

You know that "blank check" that Democrats, Obama, McCain, and establishment Republicans said that would prevent being given to Wall Street?  Well, we have given one to AIG alone. 

 

You remember AIG.  They owe 20 billion dollars to Goldman Sachs (home of Democrats and nominal "Republicans" like Hank Paulson, in which Democrat billionaire Warren Buffet invested 10 billion dollars).  Goldman Sachs, of which Hank Paulson was CEO before becoming Secretary of the Treasury, was the only private party which was allowed to participate in a meeting of the New York Fed before the recent bailout by Paulson and the Fed, loaning AIG 85 billion dollars of taxpayer money (resulting in taxpayers now owing AIG, but also resulting in a taxpayer bailout of Goldman Sachs, in an amazing conflict of interest--after Goldman Sachs' paricipation in that Fed meeting).

 

Well, AIG proceeded to hold a "retreat" for executives, obviously with taxpayer money, a week after the taxpayer bailout.  It has been all over the news.  The retreat was held at a California spa at a cost of $400,000.  That is while taxpayers were losing trillions of dollars, partially because of the people at AIG.

 

You won't believe this next part.  The news on CNBC tonight is that the New York Fed, continuing that amazing conflict of interest, has loaned another 37.8 billion dollars of taxpayer money to keep AIG afloat (PARTY TIME!!!!! for AIG executives AND Goldman Sachs executives, not to mention Warren Buffet).  No one could make this stuff up.  AIG obviously has that blank check from the taxpayers.  We are already into AIG for some $115 billion dollars.  The first 85 billion is already spent (partly on that retreat). 

 

This whole "bailout" business is a crock.  Once you start, when do you stop?  The answer is obvious:  when the country goes under or taxpayers revolt (probably both happening at the same time).