This has been confusing and really outraging for me as Sanders is just a bad comb over from being Montgomery Burns, he's that fucking evil in his economic policy (not to mention other areas).
I agree, SeizeTheDay, this whole situation represents a huge lost opportunity.
Bank executives are grappling with a question that exasperates, even infuriates, many recession-weary Americans: Just how big should their paydays be? Despite calls for restraint from Washington and a chafed public, resurgent banks are preparing to pay out bonuses that rival those of the boom years. The haul, in cash and stock, will run into many billions of dollars.
Industry executives acknowledge that the numbers being tossed around — six-, seven- and even eight-figure sums for some chief executives and top producers — will probably stun the many Americans still hurting from the financial collapse and ensuing Great Recession.
NO ONE even attempted to negotiate with AIG's counterparts.
The banks that AIG had sold all the swaps to were the main beneficiaries of this - they held all these instruments that would have become worthless, but because of the bailout they were paid in full.
As I understand it, AIG's creditors were facing being paid nothing at all. Something > nothing is a fairly large negotiating tool.
If nobody had any uncollateralized unhedged exposure, why would the bailout have even needed to happen in the first place?
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