Kyros on 10 November 2008
The problem NJ5 is that the whole economy would have gone down the drains if they wouldn't have rescued AIG. Not just the US but the whole world. So they didn't have much of a choice. Anbd its hardly a stimulus package that is increasing bankers wealth.
The shareholders of AIG got nothing. The shareholders of Lehman lost all their money ...
Yes some money will be lost. And they will not get their money back in the short-term. But its hardly stuffing the pockets of bankers and shareholders. In Europe every CEO and board member who takes public money is limited to 500k earnings (still a nice sum but much less than before)
The only ones profiting are the bank owners
If you look at bank equity you will see that bank owners lost more than half their money. They may be profiting from their investment being saved from total destruction (with the exception of Lehman who got nothing) but they make no party and the owners are mostly Retirement funds from everybody. Not some rich guys,
