Will Grigg?s Liberty Minute

March 25, 2009

Rolling Stone investigative writer Matt Taibbi has dissected the collapse of the mammoth insurance and investment company AIG.

Following the $165 billion federal bailout of AIG, the public was outraged to learn that the company had spent hundreds of millions of dollars on bonuses for the corporate officers who had presided over the company?s collapse.

During the last quarter of 2008, AIG lost more than $27 million per hour; that?s $465,000 a minute, or the equivalent of the median American household income every six seconds. This resulted from the implosion of AIG?s business model, in which bundles of bad mortgages were used to generate huge profits in the derivatives market.

The rescue of AIG?s corrupt leadership typifies the ongoing Wall Street Bailout, which Taibbi describes as ?rich bankers bailing out rich bankers using the taxpayer?s credit card.?

Keep this in mind when filing your income tax return this year.

Let us take back the liberty wherewith Christ has made us free