Brian wanted to know the answer to this question, Veritas, who exactly authorized the AIG bailout?
Here is one answer, your mileage may vary-
“There’s really no statutory authority for the AIG takeover…I won’t bother noting that the DC Circuit, were it to sit in judgment on whether the Fed could buy the world’s largest insurer, would undoubtedly conclude that the plain language of its governing statute (which is to make emergency loans, not require takeovers in exchange) would not permit the takeover under Chevron USA v. NRDC.” http://legalblogwatch.typepad.com/legal_blog_watch/2008/09/federal-bailout.html
Europe is also experiencing problems with bankers:
“There’s a growing feeling that the banks have played a big part in the problems now facing Spain,” said del Rio, 37, who gathered with a throng of people in the town’s main square last week as protests that began May 15 swelled across the country. “There’s real anger with banks that got out of control.”
