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This could be why AIG got a FED bailout when Lehman Brothers didnít. [View All]

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Just-plain-Kathy Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-17-08 01:01 PM
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This could be why AIG got a FED bailout when Lehman Brothers didnít.
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I found this article from 2002 that may explain why AIG received a federal bailout when Lehman Brothers didn't. ...In short AIG is connected to George HW Bush's infamous investment firm, the Carlyle Group.

**I added whatís typed in italics.

Crony Capitalism Goes Global
by Tim Shorrock
The Nation
April 1, 2002



SnipÖ

The Carlyle Group is owned by forty-nine managing partners, who hold

94.5 percent of Carlyle's private stock. (They include Baker and Major,

whose Carlyle holdings are worth at least $200 million if the stock is equally

divided. (George HW Bush was the Carlyle Groupís Senior Adviser up until

Oct 2003)
The remaining 5.5 percent is held by the California Public

Employees Retirement System .

The investors in Carlyle's various funds include US investment

banks Goldman Sachs (received a $3b bailout, Aug 2007) and

Salomon Smith Barney (Citibank and Salomon Smith Barney are divisions of

Citigroup, they received a $41b bailout Nov 2007)
; investment

authorities in Abu Dhabi, Kuwait and Brunei; giant insurers like American

International Group (received a $85b bailout)
and the labor-oriented

Union Labor Life; public pension funds in Ohio, Florida, Michigan and New York;

and the corporate pension funds of American Airlines (included in a $15b

bailout following 9-11)
, Boeing, BP Amoco, GM (looking for a

bailout)
and the World Bank.(THE WORLD BANK invests in the Carlyle Group!!)


http://www.globalpolicy.org/socecon/tncs/2002/cronycap....


Ö




In Short, Bush is funneling our tax dollars to crony corporations.



Conspiracy theorists are pooh-poohed around here; sometimes threads talking about conspiracies are locked or deleted. I hope this doesnít get taken down.
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