It appears the spins in the AIG saga continue – in order now to "save face" for those in the Executive branch and legislative branch (Congress) who were initially negligent in their duties under the U.S. Constitution when this half-baked "bailout" was initiated to begin with.
Most of the banks involved funded a great many of those on the Hill’s election campaigns last year, and one is an actual owner of the Fed (Goldman Sachs, who also received monies from AIG under that bailout), so how the financial institutions could EVER could have been "bankrupt" to begin with is beyond me.
If you are a company facing eminent bankruptcy, it would appear you would not have the sums necessary in order to make campaign contributions with investor/depositor assets. If you are an owner of the Fed, being funded then from monies being lent by the Fed but billed then to the American people and economy as a public debt, isn’t this the definition of "money laundering?"
Today Mr. Geithner announced his solution. The U.S. is going to "get back" some of those bonuses – eventually. Also AIG is going to be "penalized" for the sums for the Executive bonuses Mr. Geitherner and the Fed released on Sunday to them in an equal amount.
I guess we have to take Mr. Geithner’s word on this one, since he is unaccountable to anyone actually per the terms of that TARP Act rushed through Congress before any of the American people could become the wiser. Not Congress, not the U.S. judiciary, although clearly acting in the capacity as a "trustee" for the American people in this fraud of a bankruptcy.
Congress actually is the only entitly who has any authority over foreign agreements or "treaties." AIG is a global insurer. Congress also has no inherent right, outside Constitutional amendment, to transfer it’s authority to the Executive Office or any employee of the Executive office.
If a private citizen goes bankrupt in this country, he must file a bankruptcy with the U.S. District Court in the jurisdiction in which he is a resident. Apparently, London based AIG got "residency" rights although a global and international insurer. How? Who knows.
This entire bankruptcy was formulated for one reason, and one reason only. To further indebt the United States and it’s people in order to facilitate both globalism, and enrich the Fed’s pockets in the interest that will be charged on those debts. The further America sinks into debt, the less the dollar is worth, the more it encourages foreign investment. Simple Economics 101 and logic. It appears that is clearly the aim here.
And it is your "representatives" of that 110th Congress that sold you out, America.