Before going any further please check this link: The Black Hole: AIG
Ok AIG gets another $30 billion and I guess we can expect them to have another party for their executives or perhaps a round of golf. The latest $30 billion raises the total hand out to these welfare executives in suits and ties to $180 billion. With about 113 million households in the United States AIG's $180 billion gift is costing each household almost $1,600. That sounds like a holdup to me or could it be that AIG is blackmailing the United states of America by saying we're too big to fail and if you don't give us more money we're going to drag you down to the stone ages. Hell that sounds like terrorism to me. So how did we get to this point where Wall street and insurance companies have screwed us out our 401k savings and are holding the United states of America for ransom? It might surprise you to know that the Bush administration was aware of what was going on as far back as 2002.
"It is clear that we had good intelligence on the mortgage-fraud schemes, the corrupt attorneys, the corrupt appraisers, the insider schemes," said a recently retired, high FBI official. Another retired top FBI official confirmed that such intelligence went back to 2002.
The problem, according to the two FBI retirees and several other current and former bureau colleagues, is that the bureau was stretched so thin that no one noticed when those lenders began packaging bad mortgages into bad securities.
"We knew that the mortgage-brokerage industry was corrupt," the first of the retired FBI officials told the Seattle P-I. "Where we would have gotten a sense of what was really going on was the point where the mortgage was sold knowing that it was a piece of dung and it would be turned into a security. But the agents with the expertise had been diverted to counterterrorism."
Both retired FBI officials asserted that the Bush administration was thoroughly briefed on the mortgage fraud crisis and its potential to cascade out of control with devastating financial consequences, but made the decision not to give back to the FBI the agents it needed to address the problem. After the terrorist attacks of 2001, about 2,400 agents were reassigned to counter terrorism duties.
More after the hump.