Heyer Capital, LLC

investment management and timely advice from a local CPA (Fox Valley, Wisc.)

Fiddling

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I encourage people to not get distracted by the $163 Million in bonuses AIG is contractually obligated to pay. It’s the Washington ruse to keep our eyes off the fact that the taxpayers have paid $173 BILLION to AIG, most of which funneled directly out the door to its counterparties: Goldman Sachs, Deutche Bank, Société Générale, Bank of America, hedge funds, et al.

No wonder the Feds have been so blasted secretive about telling who got what.  As Bloomberg commentator Michael Lewis put it, the American taxpayer is paying off AIG’s gambling debts.

A week ago, the Chinese premier expressed concern over getting paid back all the dollars they’d loaned us. Our response? This week the Fed said they’d whistle up another $1.2 trillion out of thin air in order to manipulate the bond market and erode the dollar. The Federal Reserve is destroying the dollar, while the conservative media tries to get people get lathered up about $500,000 earmarks in a $3.5 TRILLION monstrosity. What was that about Nero fiddling?

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Written by heyercapital

March 20, 2009 at 7:32 am

Posted in Uncategorized

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