Potent Quotables (updated periodically)

  • "If you like sausages and laws, you should never watch either one of them being made." -- Otto von Bismarck
  • "God who gave us life, gave us liberty. Can the liberties of a nation be secure when we have removed a conviction that these liberties are the gift of God? Indeed I tremble for my country when I reflect that God is just, that his justice cannot sleep forever." -- Thomas Jefferson
  • "The best way to prove a stick is crooked is to lay a straight one beside it" -- FW Boreham
  • "There are two kinds of people in the world. Those who walk into a room and say, 'There you are' and those who say, 'Here I am'" -- Abigail Van Buren
  • "It was not political rhetoric, mass rallies or poses of moral indignation that gave the people a better life. It was capitalism." -- Thomas Sowell

Tuesday, March 17, 2009

AIG Bonus Payments, part II

What did I tell you yesterday?
New York Times:
A.I.G. executives said they would never have proceeded with the bonus payments before getting approval from the Treasury and the Federal Reserve.

“We would never make any important business decisions without discussing them with our government managers and owners,” said one executive, who did not want to be identified because of the sensitivity of the matter.

This quote is in reference to the bonus payments. How much more, then, would "important business decisions" like $100B in back-door bailouts to AIG's partner banks, governmental entities, and foreign-owned corporations be discussed with their "government managers and owners"? Given the amount of money that was moved around in the AIG shell game, and the ultimate recipients of that money, it is almost inconceivable that AIG's government minders did not approve of it.

Remember too, these bonuses were contractually mandated...and they might just be a poison pill.
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