FAIL: One Word For Them All

The Market Ticker ^ | November 11, 2008 | Karl Denninger

[bamahead]

"Even as the company was pleading the federal government for another $40 billion dollars in loans, AIG sent top executives to a secret gathering at a luxury resort in Phoenix last week. Reporters for abc15.com (KNXV) caught the AIG executives on hidden cameras poolside and leaving the spa at the Pointe Hilton Squaw Peak Resort, despite apparent efforts by the company to disguise its involvement."



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[SoDak]

The most amazing thing to arise from this government-caused economic meltdown is the fact that, apparently, no one is going to prison. That’s seriously depressing.

[Bokababe]

"The most amazing thing to arise from this government-caused economic meltdown is the fact that, apparently, no one is going to prison."

It's only us that will "go to prison" if in April we refuse to continue financing their ridiculous spending habits. It's like being blackmailed into supporting a den of drug addicts!

[TigerLikesRooster]

Ping!

[JDoutrider]

This is a real SHTF article...

I may be off to Galt's Gulch sooner than I planned...

[JDoutrider]

Interesting take, especially at the end of the article about the “spinning plates” and the possible result of this...

[B4Ranch]

>Has the FED been printing money? Is that why they won’t show their books?<

The Fed hasn’t had an audit since 1936 or somewhere back there. It’s time we peeked at them books. Of course we’d probably have to erect two new prisons just for the execs that we’d load em up with.

Don’t ever count on knowing the full truth about this or 9/11.

If you want to make people angry, lie to them.
If you want to make them absolutely livid, then tell ‘em the full truth.

[B4Ranch]

As I said, I only give the odds of this event here and now at one in three - but if Ben and Hank have been playing games, that outcome has become inevitable - we are arguing about timing, not result.

He's trying to set the glass down gently and not excite the roomful of idiots. That outcome has become inevitable, IMO. Mid January, when the weather down South of the equator is wonderful for visiting vacation property in foreign lands.

[B4Ranch]

What will be seriously depressing will be the rapid devaluation of the dollar next year.

[Pining_4_TX]

Me, too! Apparently one doesn’t even need to have any assets to be a bank. Sweet! Gimme my piece of the pie!

[TenthAmendmentChampion]

Even better, AIG apparently hasn't stopped its high-priced junkets for executives - with one taking place as recently as this last week:

"Even as the company was pleading the federal government for another $40 billion dollars in loans, AIG sent top executives to a secret gathering at a luxury resort in Phoenix last week.

Reporters for abc15.com (KNXV) caught the AIG executives on hidden cameras poolside and leaving the spa at the Pointe Hilton Squaw Peak Resort, despite apparent efforts by the company to disguise its involvement."

Nice. $343,000 worth of nice, if this report is correct.

The amount of money spent on this junket is tiny in comparison to the bailout, but the average person will be outraged by this. It reminds all of us that we are the "little people." It's infuriating!

[TenthAmendmentChampion]

Under The Constitution all revenue bills must originate in The House.

The Constitution? What's that?

[TenthAmendmentChampion]

We want pie!