The corporate executives laid the foundation for the government's 80% ownership in AIG as well as the banking sector. The AIG corporate executives along with the other financial titans came to the government groveling on their knees begging for a government handout.
The corporate enterprises set their executive compensation, which included generous bonuses for bankrupting the industry. They ran the companies and the financial sector into the ground. Damn, Wall Street should have been able to run their capitalistic empire without training wheels and adult supervision. But, I guess that was a wrong assumption. Since, the Wall Street investment bankers, and other assorted financial institutions are 100% to blame for their jacked-up business models and their over leveraged toxic derivatives/swaps. Of course, the Bush Administration should have regulated their industry, but that doesn't absolve the blame of the companies like Bears, AIG, Merill Lynch, Goldman Sachs, Citibank, Bank of America, Enron, Worldcom and other assorted nefarious players for their dirty deeds done in the dark off the balance sheets.
This pinstriped crew is just as corrupt as Bernie Madoff. And they should go to jail too.
During my childhood, I (like most kids) played the game Monopoly. As a child, it seemed strange that the first major stop on the corner of the game-board was a "jail."
Along with a more punitive space the police man pointing backwards in the “go to jail” space. As if that weren't enough the Community Chest and Chance cards both had cards, drawn at random, with not only a "get out of jail free” card, but also a "go to jail, go directly to jail, do not pass go, do not collect $200" card. As a child those cards and the presence of jail on the game board that bought and sold property, utilities, and railroads didn't make sense. Now, in light of the Wall Street meltdown I understand. These crooks just need to go to jail.
--by Ron Edwards