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Author Topic: Ya gotta love it  (Read 759 times)

Offline reinbeau

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Ya gotta love it
« on: April 14, 2009, 02:57:54 PM »
Hubby sent this to me, now it all makes so much sense - if it's true, :


Remember when the economic crisis hit and the giant investment banking firm of Bear Sterns filed for bankruptcy?  The company asked for financial assistance from the government but Congress decided (wisely) that private businesses make their own decisions and should be held accountable for them.  Consequently, Bear Sterns went out of business.

Then several months later AIG, the huge insurance company, announced it too was in financial difficulty.  Congress did a 180 turn in their philosophy and provided bailout money for AIG.  Why the change of heart?  Was it out of concern for the tens of thousands of citizens who might lose money?  Or perhaps Congress was suddenly concerned for the economy as a whole.  Well, it was nothing that complicated.

AIG INSURES THE PENSION TRUST FUND FOR MEMBERS OF THE UNITED STATES CONGRESS!

- Ann, A Gardening Beek -  ΜΟΛΩΝ ΛΑΒΕ

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Offline Keith13

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Re: Ya gotta love it
« Reply #1 on: April 14, 2009, 04:40:16 PM »
WOW so clear now ;)

Keith

Offline indypartridge

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Re: Ya gotta love it
« Reply #2 on: April 15, 2009, 07:43:34 AM »

Offline reinbeau

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Re: Ya gotta love it
« Reply #3 on: April 15, 2009, 08:12:47 AM »
Oh, I don't know, there's lots of butt-covering phrases in that Snopes report.  While I knew it wasn't as simple as that, it still has a ring of truth to it.  a disclaimer - my family has made it's fortune in risk management, my youngest brother worked for AIG/Lexington for many, many years, he just took another job two months ago, so he was there throughout the debacle.

- Ann, A Gardening Beek -  ΜΟΛΩΝ ΛΑΒΕ

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Offline Scadsobees

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Re: Ya gotta love it
« Reply #4 on: April 15, 2009, 09:42:15 AM »
Ok, I now officially blame reinbeau for this financial mess  :-P
Rick