AIG Bonuses, Bank Bailouts or Credit Default Swaps.....

[Postman]

Which pisses you off more?

The Bonuses and the Bailouts are the results of the Credit Default Swaps.

[4dsc]

1. Congress...

They are doing nothing IMHO.. Until we see some of these companies failing and the executives doing a perp walk, congress will do little and pay lip service to the financial industry..

[soothsayer]

2. abolish the fed and fire the SEC heads

[malaise]

3. It all started with the Buyout

of Congress

[dkf]

5. YES. This is the main problem.

Congress was paid to overturn all the measures developed after the last time these shenanigans tanked the economy. Its disgraceful.

[Junkdrawer]

4. Credit Default Swaps are measured in $Trillions....

We just can't contimue to make them good...

[morgan2]

6. bail outs with no restrictions

the bails outs all should have been done after bankruptcy was declared. The people responsible should have been fired and or prosecuted. The companies "too big to fail" should be broken up into units small enough to fail.

[RB TexLa]

7. Why would CDS piss people off? Should the cost of insuring debt be static?

[Junkdrawer]

9. If AIG could pay CDS they should. I'm pissed that 100s of $billions of TAXES...

are going to make those bets good and not going, for example, to repairing roads or paying for healthcare.

[depakid]

10. Because there are no reserve requirements

Among other things.

[coalition_unwilling]

8. "AIG bailout" is a misnomer -- more like a massive

money-laundering scheme, whereby AIG functions as a passive conduit for payments to AIG's counter parties AT PAR VALUE, i.e., way above current market value, for the underlying securities. In short, a massive fraud on the American taxpayer.

As such, the bonus brouhaha is the classic red herring, aiding and abetting the 3-card monte\shell game (pick your metaphor) being carried out IN PLAIN SIGHT!

On edit: only a general strike, aka revolution, will stop this bailout of the parasitical rentier class by the non-parasitical working class.