Friday, March 20, 2009
Target Rich Environment
Ken Silverstein at Harper's illustrates the simple hypocrisy at work in the AIG scandal, namely U.S. Senator Chris Dodd selling bailout bonus loopholes to AIG in exchange for campaign contributions. In other articles now featured in his online column, Silverstein exposes the scramble by U.S. Representatives like Charles Schumer to cover their tracks from the past by sending up voluminous amounts of flak in the present political climate of hostility. I guess it has occurred to some politicians that the rising resentment unleashed against banking executives might soon be headed their way. If you think this is fun, wait till someone starts naming the private equity beneficiaries of the banking scandal--the really rich who used these banks to hollow out our entire economy and deposit it in their personal offshore accounts.
