Archive for the ‘safty net’ tag
AIG loses 105 billion. U.S. dollars: Now it’s bonus time?
The power to the people
The U.S. taxpayer now owns some 80 per cent of insurance giant AIG. It has cost them 170 billion. dollars. If some feel that perhaps it was a bit expensive, so they are probably not very happy when they hear where the money has gone.
Where did the money go?
Today AIG publiced two things: A list of banks that have lost money paid for – and a bonus payout of 165 million. U.S. dollars to the department which lost money. “These payments are nothing less than a reward for an obvious failure,” said Elijah E. Cummings, a Democrat from the State of Maryland, to The New York Times, and continues. read more aboute AIG’s bad investments here