icεmαή;1932979 said:
The U.S. government decided to bailout AIG and the lot so that they can pay bonuses to their good-for-nothing executives? Talk about taxpayers getting ripped... I don't know a thing about economics and even I know its stupid...
Only about 1% of the money (supposedly, we don't know for sure, but executive bonuses equalled about 1% of the bailout money) went to bonuses for AIG employees. We're only talking about a fraction of the money here. What's more alarming is that more than 50% of the money went to investment banks that have stakes in AIG, such as Goldman Sachs, Deustche Bank and Barclays. That is the more alarming fact.
It's pretty obvious what happened here. The investment bankers asked for a bailout from their friend Hank Paulson (former Goldman Sachs guru) and if they wouldn't get it, they would crash the markets. That's why Paulson threatened Congress.
The more people focus on the bonuses, the more they miss the real point - possible theft.
Edit: Actually, I'm afraid it's not "possible". That's exactly what happened. International banks stole billions from the US people.
The whole economy is a huge fucking Ponzi scheme.