Dear Ms. Manners,
I'm writing to settle a quibble between myself and a friend. Four years ago, my friend was in very bad shape. She was heading toward financial ruin, in fact, when I offered her a $182 billion loan. This past October my friend was able to pay me back in full, including interest. I'm not ashamed to say that I profited from this loan.
Last week, my friend sent me a thank-you note. I saw no need to send a thank-you note in return, as I was the one who did the initial favor. Unfortunately, I've since learned she is now considering a lawsuit against me because the terms of my loan were supposedly too harsh. Do you think she's doing this because I didn't send her a thank-you note as well? Please let me know who's in the wrong.
The United States Treasury Department
Tags: AIG, Money, Treasury Department
AIG may be a corporate behemoth that needed billions of taxpayer dollars to pay off its toxic debts (and to sponsor an English soccer team and pay huge executive bonuses), but darn it, it's a polite corporate behemoth that just needed a little help from its friends.
And when it finds a few million dollars lying around, AIG spends those dollars on a thank you note to the American people:
Tags: AIG, Economy, Money, Treasury Department
Yesterday, every American taxpayer was the not-so-proud owner of a company that played an integral role in bringing down the global economy.
By this Friday, you'll be just another schmo who doesn't even own a multi-billion dollar insurance conglomerate.
Tags: AIG, Economy, Islam, Treasury Department
It must be really, really hard to be a Glenn Beck fan. I know I couldn't do it.
Matt Taibbi explains…
[A]ctual rich people can't ever be the target. It's a classic peasant mentality: going into fits of groveling and bowing whenever the master's carriage rides by, then fuming against the Turks in Crimea or the Jews in the Pale or whoever after spending fifteen hard hours in the fields. You know you're a peasant when you worship the very people who are right now, this minute, conning you and taking your shit.
Whatever the master does, you're on board. When you get frisky, he sticks a big cross in the middle of your village, and you spend the rest of your life praying to it with big googly eyes. Or he puts out newspapers full of innuendo about this or that faraway group and you immediately salute and rush off to join the hate squad. A good peasant is loyal, simpleminded, and full of misdirected anger.
And that's what we've got now, a lot of misdirected anger searching around for a non-target to mis-punish… can't be mad at AIG, can't be mad at Citi or Goldman Sachs. The real villains have to be the anti-AIG protesters! After all, those people earned those bonuses! If ever there was a textbook case of peasant thinking, it's struggling middle-class Americans burned up in defense of taxpayer-funded bonuses to millionaires. It's really weird stuff. And bound to get weirder, I imagine, as this crisis gets worse and more complicated.
I don't know. These people seem pretty reasonable, well-informed and able to expressive of their thoughtful opinions to me.
Tags: AIG, Barack Obama, Citigroup, Economy, Glenn Beck, Goldman Sachs, Matt Taibbi