If you get a home loan, they expect you to use that money to pay for the home... In fact they don't even trust you with the money, they pay the seller.
It is simple, AIG used that money for bonuses, if they wouldn't have gotten that money, they would be out of business. Which is what should have happened.
Absent the expertise of the employees they "retained" with the retention bonuses, they would have been out of business for lack of expertise.
Yes. Unless you count that I had a payment schedule to follow. In fact my bank calls me from time to time asking if I need any money. I do, but not money I wish to pay back with interest.
Do you really think that AIG got this loan from the Feds upon condition that they wouldn't continue to pay their employees?
How about some outrage for Jamie Gorelic and Franklin Raines who took Fannie and Freddie and you and me to the cleaners based upon fraudulent accounting?
ML/NJ