The bail-out from hell just got worse, not only is the Federal Reserve refusing to identify the recipients of almost $2 trillion of emergency loans funded by the US taxpayers. They are also not disclosing what the central bank is accepting as collateral, got any bridges? Now add to that, the latest changes to the tax code by Paulson (supposedly slid in while no one was looking) and you have a class A recipe for the taxpayer getting screwed with no kiss and no dinner. The cherry on top of this debacle is the spineless who are speaking on the condition of anonymity not doing anything about the massive taxpayer rip-off.
“We’re all nervous about saying that this was illegal because of our fears about the marketplace,” said one congressional aide, who like others spoke on condition of anonymity because of the sensitivity of the matter. “To the extent we want to try to publicly stop this, we’re going to be gumming up some important deals.”
“AIG made significant efforts to disguise the conference, making sure there were no AIG logos or signs anywhere on the property,” KNXV reported.