The Bailout that costs as much as the Iraq War

Here is a video showing the bailout at the Wall Street and it will cost the taxpayers the amount of almost $1 trillion. It is almost the same cost incurred during the Iraq war.

Further, as mentioned in my previous post, the American International Group Inc. (AIG) is also included in the list of companies integrated in the bailout. And based on what I read in one of the online newspapers, the AIG hosted a party worth $440,000 after the bailout. I think this is too much for the taxpayers. Normally it is okay for a company to celebrate, but amidst all the news and fresh from the bailout decision, I think AIG has no right to have a party that costs too much. Throwing away $440,000 amidst the crisis that is still unresolved is way too inhuman.

As mentioned by Rep. Henry Waxman, the committee’s chairman, “the average Americans are suffering economically and they are losing their homes, their jobs and health insurance. But in less than a week after the taxpayers rescued AIG, the executives of AIG were found dining and wining in one of the most exclusive resorts in the country.”

This is not a definitely good sign and is not very appropriate in today’s time.

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