We’ve Socialized Risk, Why Not Profit?
Today, the Federal Reserve reversed course on Tuesday and agreed to an $85 billion bailout that would give the government control of the troubled insurance giant American International Group.
Earlier this year, the government bailed out another investment bank, Bear Stearns, by engineering a sale to JPMorgan Chase that left taxpayers on the hook for up to $29 billion of bad investments by Bear Stearns.
I’m not an economist, but I’ve been doing my best to keep up with all of this crazy news coming out of wall street this year. I’m wondering though, if $114 billion dollars of tax payer money has been invested into Wall Street without any vote, why aren’t we all being notified of how to claim our share of stocks in these companies? If they’re being run by the government I’d say that would be only »
