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wrong headline

By: Cactus Flower in ALEA | Recommend this post (1)
Wed, 27 Aug 14 3:57 AM | 29 view(s)
Boardmark this board | The Trust Matrix

Msg. 16159 of 54959
Jump:

http://blogs.wsj.com/economics/2014/08/26/2008-meltdown-was-worse-than-great-depression-bernanke-says/

this lawsuit is depraved. hank greenberg appears to have thought he could let the economy pay for aig's insurance fraud (it accepted premiums but couldn't pay its obligations) without aig shareholders paying the price.

his dirty little plan was to let aig's financial products subsidiary fail, leaving taxpayers to pick up the bill, while aig's shareholders were left intact.

but bernanke clearly forced aig to accept the bailout which meant aig's shareholders were also forced to accept the cost of its financial products division. and hence aig's investors lost their investment. as they should have done in the circumstances.

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