User login

Primary links

user warning: Unknown column 'u.signature_format' in 'field list' query: SELECT c.cid as cid, c.pid, c.nid, c.subject, c.comment, c.format, c.timestamp, c.name, c.mail, c.homepage, u.uid, u.name AS registered_name, u.signature, u.signature_format, u.picture, u.data, c.thread, c.status FROM comments c INNER JOIN users u ON c.uid = u.uid WHERE c.nid = 35 AND c.status = 0 ORDER BY c.thread DESC LIMIT 0, 50 in /home2/dayspri3/public_html/blubari/modules/comment/comment.module on line 991.

Your investment in aig? $1,224! What did you get?

Submitted by Robert Lindquist on Wed, 03/18/2009 - 5:11am

In his weekly newsletter, Former Speaker of the House Newt Gingrich called on the Obama administration to abandon the strategy of bailing out failing companies, insisting that companies choose bankruptcy or receivership as the only way to restore a sense of order and fairness to the economic system. Gingrich writes "So far, the American taxpayers are on the hook for $170 billion to AIG - that’s an astounding $1,224 per taxpayer." He also points out that any company that needs a $170 billion taxpayer bailout is a failed company, and that the executives that led that company are failed executives.

But instead of having to face the consequences of their failure responsibly through bankruptcy or receivership, AIG and its Wall Street “counterparties” are being rewarded for their recklessness -- with our money. "Thanks to the Bush-Obama-Geithner policy of bailing out failing companies," says Gigngrich, "We now have the worst of all possible scenarios: A taxpayer subsidized, government supervised private company; an unsustainable public/private hybrid that is too public to make its own decisions and too private to be responsible to the taxpayers that are keeping it alive." Read the rest of the story