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Elizabeth Warren Uncovered What the Govt. Did to 'Rescue' AIG, and It Ain't Pretty

By Implode-Explode Heavy Industries

``The report concludes that the Federal Reserve Board?s intimate relations with the leading powers of Wall Street?the same banks that benefited most from the government?s massive bailout?influenced its strategic decisions on AIG. The panel accuses the Fed and the Treasury Department of brushing aside alternative approaches that would have saved tens of billions in public funds by making these same banks ?share the pain.?''

Full post as published by Mortgage Lender Implode-o-Meter on August 10, 2010 (boomark / email).