Las Vegas finds a second home on Wall Street

The media brouhaha -- regarding AIG and the wayward bonuses paid to some of its employees because of an "oversight" on the part of Senator Dodd et al. -- has for the past few days been essentially nonstop. However improper and infuriating those payouts may be to the taxpayer who is expected to foot the bill, now and for foreseeable generations, they're small potatoes -- or should I say plums?  Set along side the dollars going to the financial institution players such as banks and the now-bank but former Wall Street brokerages, the total amount of the AIG bonuses are insignificant chump change.Consider the following excerpt from the Wall Street Journal piece "Goldman's Price of Protection":An AIG failure likely would have prevented Goldman from receiving the $2.5 billion of collateral, and the cash payments[$5.6 billion from the Fed through the AIG conduit]. Instead, Goldman would have been exposed to further declines in the value of...(Read Full Post)

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