Robert Reich's Blog: The Real Scandal of AIG
Robert Reich's Blog: The Real Scandal of AIG:
This sordid story of government helplessness in the face of massive taxpayer commitments illustrates better than anything to date why the government should take over any institution that's "too big to fail" and which has cost taxpayers dearly. Such institutions are no longer within the capitalist system because they are no longer accountable to the market. To whom should they be accountable? As long as taxpayers effectively own a large portion of them, they should be accountable to the government.
But if our very own Secretary of the Treasury cannot make stick his decision that AIG's bonuses should not be paid, AIG is not even accountable to the government. That means AIG's executives -- using $170 billion of our money, so far -- are accountable to no one.
http://okdso.fm.interia.pl/atee.html what time do we turn clocks back
Posted by: ontollams | April 07, 2009 at 11:54 AM
http://okdso.fm.interia.pl/atee.html what time do we turn clocks back
Posted by: ontollams | April 07, 2009 at 11:53 AM