When Government Creates Lawlessness
"When the government began rescuing it from collapse in the fall of 2008 with what has become a $182 billion lifeline, A.I.G. was required to forfeit its right to sue several banks — including Goldman, Société Générale, Deutsche Bank and Merrill Lynch — over any irregularities with most of the mortgage securities it insured in the precrisis years."
A
New York Times article linked up via
Karl Denninger who comments:
"...it says in plain English that if you're a bank there are no laws."
No comments:
Post a Comment
Comment moderation is now in place, as of April 2012. Rules:
1) Be aware that your right to say what you want is circumscribed by my right of ownership here.
2) Make your comments relevant to the post to which they are attached.
3) Be careful what you presume: always be prepared to evince your point with logic and/or facts.
4) Do not transgress Blogger's rules regarding content, i.e. do not express hatred for other people on account of their ethnicity, age, gender, sexual orientation or nationality.
5) Remember that only the best are prepared to concede, and only the worst are prepared to smear.