Monday, March 16, 2009

Bailout Bonanza!

So, it turns out some banks got bailout money directly from the Feds, as well as from AIG (because AIG owed them money.)  Check out the list here.

Also, apparently, some in AIG's Financial Products division, have graciously opted to take only $1 in remaining salary for 2009, presumably to offset the receipt of the bonuses they're likely to get.  Their average salary was in excess of $270,000; anybody want to wager on whether the average expected bonus is in excess of the average salary?  I guess this offer is in response to President Obama's stern admonition to Secretary Geithner to do all he can to block the bonuses.

In case you can't get enough of talk of credit default swapping and the consequent fiasco, check out today's href="http://www.npr.org/" target="_blank">Fresh Air with Terri Gross

The website of the culprit du jour, AIG Financial Products' contains a handy little logo-- if only they'd heeded its message!

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