170 Billion to AIG – Where Did It Go? Transparency Should Be Demanded For All Bailout Money.

“A Pale Green Mermaid Blog”

The deals made by President Bush concerning how the TARP  bailout money would be used, should be rescinded. 

On great example is AIG the taxpayers own 80% of the preferred stock of AIG yet we (the government) has no say over how the bailout money is being spent or transparency as to how and when AIG will be able to repay the bailout money.

If the government bails out a company all the money should be open to review by the congress and rules should be set set prior to giving the bailout as to how the money can be used and if the money is spent outside those rules it must be returned.

If the contracts of the auto workers can be renegotiated through pressure from congress and the public, then contracts of AIG employees that include large bonuses can be renegotiated.

So write your congress person and as President Roosevelt said to a group of protesters during the depression ” That’s a great idea …now make me do it.”

Your voice does matter, honestly it is essential.  

Peace 

Note:      www.congress.org

 

 

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Filed under Economy, Mortgage crisis, Politics

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