Quote:
Originally Posted by spence
This is perhaps the biggest crock of %$%$%$%$ I've ever heard.
These executives understood exactly the risk they were putting AIG under when they chose to insure sub-prime loans from default without adequate cash ratios in the bank.
What people don't realize is that a lot of the money sent to AIG is then being sent to other banks as insurance payoffs for mortgage defaults, because the exects at AIG gambled on the premise that housing prices would never fall and they would never have to pay out.
Sounds like a ponzi scheme to me. "Bond" my ass...
-spence
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are you kidding me? You're still nieve enough to think this was all executives! So you have FAITH in corporations not to use this to screw over their own people? I can see it now, congress imposes a new bonus tax on all bonus incomes, corporations stop bonus payouts for workers. The middle class is goign to take the screw for this under the guise of a hit on the "wealthy".