I keep hearing people on the TV mosheen say things like let the companies fail, or we can't let them fail -- it depends on the pundit. The money amounts keep getting bigger and bigger whether it the bonus, the amount given or the amount going into the machine. I am overwhelmed.
I am starting to think that Geithner should go, not because he can't handle it, but because I simply don't trust him anymore. Then I remind myself that so far, our president has come thru, even in the face of incredible odds. So here I am trying to convince myself not to worry.
But I am worried. I am concerned. And so is AIG's competition
Some of American International Group's biggest rivals have urged U.S. Federal Reserve Chairman Ben Bernanke to prevent the insurance giant from using the government rescue to win an advantage, particularly by cutting prices, The Wall Street Journal reported.
In an article posted on its website, the Journal said AIG's competitors had complained directly to Bernanke at a Mar 4 meeting at the St. Regis Hotel in Washington.
Bernanke said he would look into the complaints, the Journal reported, citing unidentified people familiar with the situation.
Industry executives and competitors told Reuters in December that AIG has been lowering prices to win new business and boost market share after receiving bailout dollars, even as market fundamentals suggest that prices need to be raised.
The thing that has me most bothered about this situation is that AIG is not a part of TARP, we [the American People] were not told about this, and it was rushed thru right before the elections.
As I try to not look back and place blame, I can't help but wonder how we got here. Not just financially, but how AIG became Godzilla to Obama's Gamera. This was something that the president adopted and short of just saying fuck it all and walking away, he must deal with it. I just hope that the very people he has to do this job are acting at THIS
point in the interest of the American people. I am not so sure Geithner was doing that when he was working for the NY federal reserve.
For myself... it is not about the Bonus Money-- it's about the principle of the bonus money
. American's by and large are understanding people, but they don't like being lied to. Actually, they don't like KNOWING they are being lied to. So when people on the left AND the right talk of fake outrage and populism, be happy that for the first time in a long time America is fighting back about something besides the war. I wish we didn't have to be angry, but the fact that people are actually questioning what is happening is wonderful.