I just read this article from Reuters about $12.9 billion in bailout money targeted to AIG got funneled to Goldman Sachs. And many more billions were transferred to other banks, including European banks.
This, people, is a scandal. This is the gov't and banks playing with your tax payer money and throwing billions and billions into pockets of bank execs and politicians and using the economic crisis as cover for hiding the transactions. I will be extremely disappointed if Hank Paulson, along with a series of execs from Goldman and AIG are not indicted for these actions. They are no less guilty than Bernie Madoff. They are moving bailout money from bank to bank and into banks that say they don't need it. The banks may not need it, but they are taking it. We are not talking about millions, or hundreds of millions. We are talking billions. $12.9 billion may not seem like a lot in the scheme of trillions of bailout money, but we are talking about $12,900 Million dollars. Lets but it into a different perspective. Why not break that up and give 1,290,000 american households a check for $10,000 to help get the economy going again.
Instead, this money is going to end up in a handful of hands of bank execs to pay for their vacation homes in St. Lucia, the Bahamas, or any other Carribean island that they are going to hide at when the banks all fall apart.
You should be as mad as hell about this America! This is an outrage. And i bet 10-1 odds Cramer doesn't even mention it. I bet CNBC ignores it and tells you all about Obama's plan to help small companies get loans. This won't be mentioned, yet, it may be the most important piece of news you all should know about, read about, and get off of your computers and go out of your front doors and yell, "I AM MAD AS HELL AND I AM NOT GOING TO PUT UP WITH THIS S**T ANYMORE!!!!"
I hope Goldman and AIG execs get what they deserve with news like this. I am personally tired of the greed that has overcome the american banks. In an economic crisis, they abuse taxpayers in total disregard for the average american trying to survive. I would say it is unimaginable but it isn't these days. And perhaps that is the sadest statement of all.
Short the hell out of Goldman Sachs, all banks in general, and buy the hell out of SKF, and FAZ. Piss the hell out of Cramer and run these freaking bank equities into the ground so these bank execs loose billions in wealth in their equity holdings. We can fight back. The banks are not helping you, they are hurting you. It is about time people learn that the bailouts are not in our interest. The money is not being used to save banks and the execs are using it for their own good and nothing else, perhaps in anticipation of their equity going to $0.
Nationalize the banks now. Socialism is better than the corruption going on today. We are no longer in a capitalist banking system. It is all about corruption and it is about billions in corruption, not millions. Nationalize now. It is the only way I will trust the banks again.