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Well well Lookie here!
AIG Bailout Payments to Banks Probed By TARP Inspector Barofsky
http://www.bloomberg.com/apps/news?pid=20601087&sid=aMYTAvnZnu3A&refer=home
April 7 (Bloomberg) — American International Group Inc.’s payments to banks including Goldman Sachs Group Inc. after the insurer’s bailout are being probed by the chief watchdog of the U.S. financial rescue program.
Neil Barofsky, special inspector general for the Troubled Asset Relief Program, has opened an audit into whether there were attempts made by New York-based AIG or the government to reduce the payments, according to an April 3 letter he wrote to Representative Elijah Cummings. The Maryland Democrat had requested the probe last month along with 26 other lawmakers.
This is what’s going on! The rape of America and you retards (Dave) believe everything is going to be OK??????? You have 7 months of Life support left…
The What
Someday this war is gonna end…
“Yes, but the law changed, Asshat.
Posted by: daveinbedstuy at April 7, 2009 11:39 AM”
Sorry DIBS, have to side with What on this.
The repealing of Glass-Steagall was so that the whining investment banks could compete with international peers who had no such restrictions – but paid no attention to the reasons why the law came into being in the first place.
Do you think that Glass and Steagall came together and thought it would be a good wheeze to separate commercial and investment banking?
“What, if you actually read what I wrote then you will see that I agree with you on this point.”
Yeah Chicken I was reenforcing it!
“Nothing about Skittles today, What???”
No packs for you stupid!
The What (The What tosses The Chicken a pack of skittles)
Someday this war is gonna end…
“Compensation should be determined by the owners of the business – full stop. If they choose to compensate employees in a way that is not in alignment with the interest of the company then that is their lookout.”
Not when you are taking Tax Slaves money! If you don’t like the Tax Slave telling you what to do, give back the money and work it out by yourselves.
What, if you actually read what I wrote then you will see that I agree with you on this point. If it is a private entity then the shareholders (or their appointed managers) should dictate compensation. If it is a public entity (by origination or via bailout/subsidy) then compensation should be dictated by the public or (more practically) the agents that they employ to oversee them.
Yes, but the law changed, Asshat.
“Even Ken Lewis has recently stated that perhaps its better that the bank be separated from the investment divisions.”
Eh Asshead! They had a law like that until Clinton repelled the Glass-Steagall Act!
http://en.wikipedia.org/wiki/Glass-Steagall_Act
The Glass-Steagall Act of 1933 established the Federal Deposit Insurance Corporation (FDIC) in the United States and included banking reforms, some of which were designed to control speculation.[1] Some provisions such as Regulation Q, which allowed the Federal Reserve to regulate interest rates in savings accounts, were repealed by the Depository Institutions Deregulation and Monetary Control Act of 1980. Provisions that prohibit a bank holding company from owning other financial companies were repealed on November 12, 1999, by the Gramm-Leach-Bliley Act.[2][3]
…and the fun got stared! Ten years later we are on the brink of a world wide DEPRESSION! Because Retards like Dave thought the Anti-Gravity Machine would stay on forever! Guy please don’t listen to Dave his mind is warped by the Mutant Asset Bubble! Ignore at all cost!
The What
Someday this war is gonna end…
Nothing about Skittles today, What???
i go visit and add to other threads like an adult proper only to come back to this thread and find out talk turned from poop to economics! :-/
with very little transition!
*rob*
I don’t disagree with your 11:28 post, Snark. The problem with the details in that are the definition of “bank-like functions”. They either are or they are not banking functions subjest to the regulations that banks are subject to.
Even Ken Lewis has recently stated that perhaps its better that the bank be separated from the investment divisions.