Why did the government bailout AIG and not Lehman Brothers?
From my understanding AIG was granted the money because there are so many foreign investors that would have lost so much the global economy was at risk. Now Washington Mutual WaMu was founded on 9/25/1889 and was sold on its 119th anniversary 9/25/08 to JP Morgan Chase. What is crazy about this is the CEO Alan Fishman had been on the job 17 days and was contractually guaranteed $11.6 million in cash severance and $7.5 million signing bonus. He netted just under $20 million. If this is not corruption what is? Now the government wants to bail out these firms with $700 billion. Lets see the “break down”. They want to give taxpayers $$$ to companies that gambled on the sub prime housing market. As we saw that failed and these companies did too. Now giving these companies $700 billion is like giving a person with a gambling problem that money. Should we take that gamble?
