Regional news: 
Bernanke on hot seat for AIG bailout funds that went to Goldman Sachs
Tony Ondrusek is founder and publisher of Insurance & Financial Advisor and IFAwebnews.com.
Lawmakers are making allegations that Federal Reserve Chairman Ben Bernanke’s $182 billion bailout of AIG was s backdoor bailout of Goldman Sachs and other banks.
Bernanke is defending his actions and calling for an audit to show his motives were pure.
If not for the inconvenient little fact that Goldman Sachs and others received more than $62 billion of the federal bailout money intended for the insurance giant, there would be no debate, no need for an audit, and no concern that taxpayer funds were misused.
2 Responses
- Carla Zinn Says:
January 25th, 2010 at 7:13 pmAIG was the fall guy for the Wall St firms who sold those bad MBS etal; and Bernanke followed his orders which is why he is being renominated. I hope the truth comes out; also that the HG funds bailed out foreign investors, i.e. China, Dubai. But will anyone be punished for this mess?Not until we get some honest people in office, regardless of party.
- health insurance Says:
February 17th, 2010 at 5:23 pmThese people at the fed are not fooling anyone. The Fed bought the paper at $1 face value from the banks and will probably sell it back to the banks at a nickle, meaning the banks will reap a 95 cent gain as the FED is virtually backing an elaborate counterfeit operation by creating the 95 cents out of the air (via at the expense of American savers through an inflation based tax and game called Seigniorage http://en.wikipedia.org/wiki/Seigniorage. The games that these soulless people play. Now you know why Hank Paulson and these other well known politically connected people are becoming some of the largest holders in these large banks that should be insolvent. Regardless if your a democrat or republican, Get out to vote in Nov 2010 and tell your Reps that you understand the massive corruption that is going on. These people are not fooling anyone. Time to stop these games.
