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AIG Larry Summers and the Politics of Deflection
Mar 20, 2009 08:28AM
f william engdahl sees the big picture and explains how it all fits together. it isn't just about the paltry $165 million in bonuses that has gotten all of the attention:
Finally US authorities have gotten 'tough' with the predator financial institutions. The world has been waiting for such decisive intervention since an unending series of Government bailouts of financial institutions began early in 2008 amounting to now trillions of taxpayers dollars. Now, with the world's largest insurance giant, AIG, the White House Economic Council chairman, Larry Summers has expressed 'outrage.' President Obama himself has entered the fray to promise 'justice.' US Senators have threatened a law to change the injustice. The only problem is they are all exercising 'politics of deflection,' taking attention away from the real problem, the fraudulent bailout.