Former AIG executive, and market analyst, R.J. Eskow takes a look at the Justice Department's decision not to hand out indictments against AIG and writes, "Hundreds of millions of victims, smoking guns in every room, and not a perp to be found anywhere." He finishes his piece with this ...
But a once-thriving company is dead. We've paid hundreds of billions of dollars directly, and trillions of dollars indirectly. 15 million people are out of work. The bookies in the Wall Street casino are still placing bets, secure in the knowledge we'll cover their debts. As they said about Nicky in Casino, they "had a good system: When they won, they collected. When they lost, they told the bookies to go f**k themselves."
Eskow's comments on AIG, and what's wrong with our stinking system, can be found here. For those of you looking for details on the AIG mess and our casino economy I encourage you to read the entire piece.