AIG, Bad Banks, Wall Street: The Story So Far
Andrew Cuomo announces that a portion of the contentious AIG bonuses, which he used the full force and majesty of his office to investigate, are being returned. Face is saved, anger abated, plans for summer homes in Biarritz scrapped. This gives cover for the Senate to postpone its vote on the punitive bonus taxes passed by the House. Also cheering Wall Street is the latest Geithner plan for bad assets, which received the qualified support of many financial overlords and led to a market rally. As well it should, some suggest, as it furthers the overlords' hostile takeover of the U.S. economy. Now it is suggested that Treasury may in turn attempt a hostile takeover of the overlords. Will the empire strike back? Enjoy your bread and circuses, folks, before they turn to crusts and vaudeville.
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