AIG bailout nets wall street a billion dollar bonanza (Congress, lawyers, Obama)

[floridasandy]

AIG breakup nets Wall Street $1 billion bonanza: report | U.S. | Reuters

NEW YORK (Reuters) - Wall Street banks and lawyers could collect nearly $1 billion in fees from the Federal Reserve Bank of New York and American International Group Inc to help manage and break apart the insurer, The Wall Street Journal said on Wednesday, citing its own analysis.

Morgan Stanley could collect as much as $250 million, the newspaper said, citing banking experts and documents released by the New York Fed.

Bank of America Corp, private equity firm Blackstone Group LP, law firm Davis Polk & Wardwell LLP, accounting firm Ernst & Young, Goldman Sachs Group Inc and JPMorgan Chase & Co are among others that have or could get big paydays for helping dismantle AIG, the newspaper said.




ARE YOU FED UP WITH THE CORRUPTION YET?

[HappyTexan]

Well good news. Wall Street is earning money. That's what we live for.
Best government money can buy.

If only our own government could earn money like that.

[ViewFromThePeak]

Yay!

Obama: outBushing Bush!

[floridasandy]

The government, which was designed for the people, has got into the hands of the bosses and their employers, the special interests. An invisible empire has been set up above the forms of democracy. ~Woodrow Wilson

no kidding!


This country has come to feel the same when Congress is in session as when the baby gets hold of a hammer. ~Will Rogers

[Chango]

Of course. The bailout was engineered to make money. If their crazy bets paid off, they would win big time. If it flopped they would threaten the world was going to end, get a bailout from the government and be none the worse. It's cuthroat capitalism at it's most devious.


But there is no reason to get mad. After all, American Idol is still on TV and we have a super-duper leader man who tells us he loves us all the time. It's time to start grazing again folks and regrow your wool for the next shearing.