Enjoying Your Bailout Of Rabobank? How About Santander?

f?id=49b2fdc1796c7a5a00fca487

Hope you’re enjoying those bailouts.  Because that’s where your some of your $160+ billion of AIG bailout money went.  As well as to other lucky “counterparties” on this list.

Now, remind us again why AIG bondholders couldn’t have covered these payments?  They lent AIG $250+ billion on their own volition, after all.  Shouldn’t they maybe be paying for AIG’s idiocy?

Oh, that’s right.  If we made the bondholders take responsibility for their decisions, that would be the end of western civilisation.

Well, how about a pre-packaged bankruptcy?  One in which bondholders picked up part of the tab and counterparties picked up part of the tab?  Wouldn’t that be fair?

Ah, the end of western civilisation again. 

Or so they’re telling us.

 

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.