No Haircuts

by

A harsh new report on the TARP bailout of AIG offers confirmation,
if we needed it, that Timothy Geithner and the Federal Reserve Bank
gave away the farm by handing billions in overpayments to
Wall Street firms because they asked for it. The watchdog report found
that, rather than bargain with AIG creditors like Goldman Sachs and
Merrill Lynch, Geithner caved to their demands to pay top dollar - ours
- for their toxic assets.

 "Tens of billions of dollars of government money was
funneled inexorably and directly to A.I.G.'s counterparties."

 

This is the world we live in. This is the world we cover.

Because of people like you, another world is possible. There are many battles to be won, but we will battle them together—all of us. Common Dreams is not your normal news site. We don't survive on clicks. We don't want advertising dollars. We want the world to be a better place. But we can't do it alone. It doesn't work that way. We need you. If you can help today—because every gift of every size matters—please do. Without Your Support We Simply Won't Exist.

Share This Article

More in: