More bad behavior from the people who brought us the financial crisis
Original post made by Patriot, Vintage Hills Elementary School, on Jan 8, 2013
Remember AIG? The company right at the heart of the financial blowup? That is the company that, because of no one's fault but its own, made horrible bets in the derivatives markets. When those bets went bad, and they couldn't pay, they turned to the tax payers for one of the biggest bailouts in history. One of the side effects of this was a precipitous tightening in credit throughout the financial industry that caused a deep and long lasting recession.
Now the very same AIG, whose executives are still raking in millions, wants more or your tax dollars, because they didn't like the terms of their government loan.
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