BelaOthello

Will Obama Succeed in Maintaining His Approval Rating?

It's amazing how the government has fooled the public into blaming "wall street" and companies like AIG for this destruction when it was truly the government that caused the disaster. How do you think these companies were allowed to leverage 5 to 7 times cash flow? In 2007 I spoke with an investment banker in Citigroup and they began lending money to corporations at 7 times cash flow instead of 5 times cash flow because Ben Bernanke was doing such a great job and keeping money cheap by lowering the fed funds rate rather than increasing it to fight inflation like what we saw with gas prices and what is coming. Now to avoid getting caught up in the additional money that was given to AIG which went to save foreign banks they release the bonus information first (150 million in bonuses vs 100 plus billion to foreign banks and Goldman Sachs--the treasury sec former employer, Merrill, BofA etc..)