The only thing more disgusting than AIG taking another $165 million out of our pockets to line theirs is the sanctimony of the Washington weasels who made this possible. I just watched Ben Dover Bernanke expressing his effeminate outrage, nearly crying and, had the camera panned down, stamping his little foot.
Let’s remember it wasn’t just Paulson who gave them megabucks. Excuse me, gigabucks.
The Fed and Ben Gay Bernanke have kicked in untold amounts. Literally untold because they won’t tell.
Obama’s been no better. Barney Frank (yeah, I’m letting that go through straight–I’ve done enough gay jokes for the day) was on TV fulminating like he had nothing to do with setting up the conditions that caused the CDS market to explode, both in size and in effect.
Every regulator and government official abdicated on their responsibility to oversee this, and that’s what really caused the problem.
For the next few days, nobody say to me “too big to fail” or “these guys are the only ones smart enough to unwind this” or “we were bound contractually to those bonuses” or “this is what comes of not having enough regulation.” I will come unglued.