see this informative article about the meltdown, the 25 main cheating money grabbers, and how much AIG, a huge bailer outed had contributed to Obama's recent campaign in 2008 =see
see full article by citizens Public Integrity who investigated and crunched actual numbers for us to learn about what we are, will be, forever, paying those who cheated and robbed us, taxpayers. AIG donated $104,332 in campaign contributions = just given to help this man become our top govt official who then turns around to bail out that same company....now this does make sense, right ? See this:
"The Roots of the Financial Crisis: Who Is to Blame?
Banks that Financed Subprime Industry Collecting Billions in Bailouts "
By John Dunbar, David Donald May 06, 2009
The full informative article cites banks, refers to links for numbers, and exposes lots of banks and institutions we had used and trusted...before... but our
focus here is on CAMPAIGN CONTRIBUTIONS and who rec'd most and the question is how does this relate to the big bail-outs that came later ? huh ?
here are some quotes, or you can read the whole detailed article for yourself too
"American International Group (AIG), better known for insurance and complex trades in financial derivatives, made the list at No. 18, " [snip]
"The five banks on the list that are still lending are Wells Fargo, JPMorgan Chase, GMAC LLC, Citigroup, and AIG. All have received billions from the government’s bank bailout programs." [snip]
"In addition to the $700 billion bailout, the Federal Reserve began committing hundreds of billions of dollars to guarantee against losses on failing mortgage assets of AIG, Citigroup, and Bank of America." [snip]
" And the bailout of insurance giant AIG may go as high as $187 billion and includes a combination of loans, direct investment by the government, and purchases of shaky assets. " [snip]
another chart of interest = http://www.publicintegrity.org/investigations/economic_meltdown/assets/img/Chart6-fullsize.jpg
"Many of the lenders coaxed them along by lowering lending standards, failing to require documentation of income on loans, and providing adjustable rate loans with low two-year teaser rates that reset to much higher levels. Ultimately, that fed a wave of foreclosures, leading to trouble for borrowers, lenders, and eventually taxpayers — lots of it"
yeah, yeah, some people are tired of hearing about it, but every review of WHAT DID HAPPEN when and where tells us there are smelly games being played in high places, even with those who promised transparency and hope too.
you may be fascinated by the work done by CITIZEN groups, that are not government nor allied with those who stole our savings and erased our confidence in our money and those who claimed to hold it 'for us'.
(c) maryjanie 2009