Goldman Sachs, AIG and Big Brother – er, Uncle…

19 Mar

Kudos to the San Francisco Chronicle and Robert Sheer for getting it right – yes, the bonuses are one more sign of gross ineptitude and largese but the larger picture, is, well.. larger.

As Sheer notes: “The bailout is a response to a banking crisis that resulted from the radical deregulation pushed by former Goldman Sachs honcho Robert Rubin when he was President Bill Clinton’s treasury secretary. Another Goldman Sachs chairman-turned-treasury-secretary, Henry Paulson, in the Bush administration designed the trillion-dollar bank bailout that will go down as the greatest swindle in U.S. history. ”

At last someone is paying attention and getting it right:

“What we have here is a rare glimpse into the workings of the billionaires’ club, that elite gang of perfectly legal loan sharks who, in only the most egregious cases, will be judged as criminals – Bernard Madoff, former chairman of NASDAQ, comes to mind. These other amoral sharks, who confiscated billions from shareholders and the 401(k) accounts of innocent victims, were rewarded handsomely, rarely needing to break the laws their lobbyists had purchased.”

Thank You Robert Sheer. Make sure you read the entire piece – trust me, you wouldn’t want to miss it. -AIG – the biggest shark of all

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