Spitzer’s Real Scandal at AIG

Eliot Spitzer, former Governor of New York state, has written an interesting piece about the real scandal at AIG:

Why are AIG’s counterparties getting paid back in full, to the tune of tens of billions of taxpayer dollars?

He suggests that AIG’s counterparties – ie. Goldman, Bank of America, Merrill Lynch, UBS, JPMorgan Chase, Morgan Stanley, Deutsche Bank, Barclays, etc. received an enormous, hidden, second round of cash via the AIG bailout.

Spitzer demands answers to a handful of questions at the end of the article, but I want to know when people are going to wake up and realize how much money Henry Paulson has stolen from them to pass on to his Wall Street buddies.

Update 24 March 2009:  Following the link in the first comment below led me to this interesting video.

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One Response to “Spitzer’s Real Scandal at AIG”

  1. jax Says:

    Breaking News: Dodd Says loophole that protects AIG Bonuses added per request of the Obama administration. The video is about a fifth of the way down.


    http://www.butasforme.com/2009/03/17/obamas-stimulus-bill-explicitly-grants-aig-the-legal-right-to-hand-out-bonuses/

    Obama should take full and direct responsibility for this mess.

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