Sunday, March 8, 2009

Speak up, don’t be shy.

Europe banks silent on reported AIG bailout gains

European banks declined to discuss a report that they were beneficiaries of the $173 billion bail-out of insurer AIG that has sparked political furor in the United States. Senators are outraged by the lack of details about where the bailout money has gone, likening AIG's underwriting of credit default swaps as gambling with somebody else's money.

Posted by devo @ 04:13 PM (793 views)
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3 thoughts on “Speak up, don’t be shy.

  • LONDON (Reuters) – European banks declined to discuss a report that they were beneficiaries of the $173 billion bail-out of insurer AIG that has sparked political furor in the United States.

    Everyone is doing a Bankyanky declining to discuss.

    Always makes my think of the famous JFK speech. Secret societies and all that!

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  • This is why I think any bailout of banks is wrong.

    Bankrole personal bank accounts up to 100k. Bankrole UK company balances in their entirity. Most UK banks debt relates to overseas liability. Sovereign wealth like OPEC countries who have shafted us for years with oil prices; or pacific rim with artificially low manufacturing prices by propping up Yuan etc. and oppressive work conditions in those countries only to see our manufacturing base decline. And then they invest in our companies and expect a bailout. Sod them. This is a chance to start again, a social redistibution of wealth and perfectly justified because this is a wholly capitalist failure. Nb. letting them fail is pure capitalism – don’t mistake me for a woolly communist.

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  • Johnny5thumbs says:

    That’s funny – U.S. voters didn’t seem to be quite so upset about missing billions unaccounted for in the Iraq war – skiploads of $100 bills stored in unsecure buildings that vanished into thin air. Or maybe they’re a little tetchier with ‘greedy’ Euro-bankers than with ‘greedy’ U.S. bankers.

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