AIG! Bail Outs! What are your thoughts?

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Comment by Ralph J Branscomb on March 19, 2009 at 12:25pm

Have you ever been to a bank to obtain a loan ? Did they just hand you a bag of cash OR did you have to sign 21 different pieces of paper with all of the terms & conditions identified BEFORE you received the money? Would you agree with the bank if they called you to come in months after they gave you the loan and decided to change 50% of the terms and conditions just because they wanted too? I think not!

It is now 6 months after the first wheel barrel of money was handed over and not once has the been a detailed discussion or debate explaining; WHO, WHAT, & WHY we had to bail out AIG. I pose no blame against the AIG Organization or its management for taking the Money, but all of the blame for the Fail Government Regulatory organizations and staff for 1st, not seeing this coming and 2nd for not doing anything about it....! This total incompetence unfortunately is the norm and not the expectation in the majority of government oversight. The relationship of the ability of lobbyist to contributed to those congressional committees responsible for their oversight is the main culprits.. I do blame the AIG management for the destruction of the company and the failures to their stockholders..
With this all said and don't , I wish to reserve my right for further opinions until such time We receive a full and detail explanation from whom ever is responsible for over seeing this Bailout boondoggal of exactly WHO, WHAT, and WHY we bailed them out

My personal opinion is that this whole issue of bonuses is a farce....