Sunday, March 15, 2009

Latest AIG Outrage

The notion that American taxpayers are "contractually obligated" to pay bonuses to people who cost them at least $170 billion is, even by Wall Street's standards, obscene. And I'm sure it's "legal," which makes it all the more obscene.  

Addendum:  The list of AIG counter-parties who were paid in full with US taxpayer money.  No haircuts in any of the CDS contracts.  Everyone paid in full.  Unbelievable.