“The government’s $182 billion bailout of insurance giant AIG should be seen as the Rosetta Stone for understanding the financial crisis and its costly aftermath.
The five-member COP, chaired by Harvard professor Elizabeth Warren, has produced the most devastating and comprehensive account so far. Unanimously adopted by its bipartisan members, it provides alarming insights that should be fodder for the larger debate many citizens long to hear—why Washington rushed to forgive the very interests that produced this mess, while innocent others were made to suffer the consequences. [including public employees who had NOTHING to do with causing the financial crisis -CAR]”
CEO’s at the top banks and financial institutions are some of the highest paid executives in the country. A recent study found that bailed-out executives received nearly $1.6 billion in compensation last year. Here’s a list of CEO compensation for the top recipients of the bailout funds:
Again, I never said that seizing the assets of those responsible would cover 100% of the pension fund losses, just that they should take the hit before anyone else does. Why would you belive otherwise?
