Government AIG Hsyteria Continues

What a joke, why don't they just look at their current investigations over the AIG, CDR financial products, the democrats, and the banks?

For example, from March of last year:

Cecile Kohrs Lindell
The Deal
March 17, 2008 Several municipalities, including the city of Chicago, last week filed suits against most of Wall Street, accusing 22 investment banks and 15 brokerage firms of bid rigging and other antitrust violations in the sale of municipal derivatives.

The civil suits follow a criminal investigation under way at the Securities and Exchange Commission, the Internal Revenue Service and the Department of Justice's antitrust division.

According to the complaint, the defendants "agreed, combined and conspired with each other to fix prices, and to rig bids and allocate customers and markets of municipal derivatives sold in the United States and its territories." As a result of this activity, the complaint says, "Plaintiffs received lower interest rates than they would have in a competitive market."

Companies involved and straight from the Federal District Court Docket:

AIG Financial Products Corp., AIG Sunamerica Life Assurance Co., Bank of America Corporation, Bank of America NA, Bear Stearns Companies, Inc., Cain Brothers & Company, LLC, CDR Financial Products, Inc., Financial Guaranty Insurance Co., Financial Security Assurance Holdings, Ltd., First Southwest Company, GE Funding Capital Market Services, Inc., Genworth Financial Investment Management, LLC, George K. Baum & Company, Investment Management Advisory Group, Inc., JPMorgan Chase & Co., JPMorgan Chase Bank, N.A., Kinsell Newcomb & De Dios, Inc., Merrill Lynch & Co. Inc., Morgan Keegan & Co., Inc., Morgan Stanley, National Westminster Bank plc, Natixis, S.A., Packerkiss Securities, Inc., Piper Jaffray & Co., Security Capital Assurance, Inc., Shockley Financial Corp., Societe Generale, Sound Capital Management, Inc., Trinity Funding Company, LLC, UBS Ag, UBS Securities LLC, UBS Financial Services Inc., Wachovia Bank, N.A., Wachovia Corporation, Winters & Co. Advisors, LLC, XL Asset Funding Company 1 LLC, XL Capital, Ltd. and XL Life Insurance & Annuity Company

Now 160 million in bonuses is causing outrage? Spare me. By the way notice how many institutions receiving bailout money and money from AIG are also being investigated for their role in black box deals.

(CNN) March-20th -- Twenty state attorneys general announced investigations Friday into the $165 million bonuses paid by insurance giant AIG last week, with Connecticut's top lawyer issuing subpoenas to CEO Edward Liddy and 11 other executives.Connecticut Attorney General Richard Blumenthal and the Democratic chairman of the General Assembly's Banks Committee want Liddy and other executives to appear Thursday and bring with them "original or copies of documents regarding the AIG Financial Products Corp. retention bonus plan and any related contracts or agreement.

This has gotten disgusting real quick. The Convergance continues. By the way it looks like President Obama is nervous about the "punishment tax"

WASHINGTON — The White House stopped short on Friday of endorsing legislation to severely tax bonuses paid to executives of companies that accepted taxpayer bailout funds.Administration officials said instead that President Obama would assess the potential effect of the bill that emerged from Congress on efforts to stabilize the financial system. At the same time, as Wall Street executives anxiously pondered the ramifications of the measure quickly passed by the House this week, some Senate Republicans began to voice opposition to the legislation, saying it was hasty and abusive.

The Hunt Goes On:
(CNN) -- AIG understated the amount of money it paid out to top executives after receiving federal bailout money, the attorney general of Connecticut says -- but AIG denies the accusations.