Rolling Stones has an excellent article about the bailouts.....check it out:

The Big Takeover
The global economic crisis isn't about money - it's about power. How Wall Street insiders are using the bailout to stage a revolution

To to the following link to view the story:


OPINION QUOTE (not from the article):

"In spite of all the sound and fury over the AIG bonuses (in fact, most
likely because of it), what has been obscured is that the total bailout for
AIG has been literally 1000 times greater than the bonuses ... so far.

Of course, it has lately come out (though the Treasury department tried to
hide it) that AIG was merely the conduit for much of this sum, which was
actually paid out to its counterparties: Goldman Sachs and a bunch of big
foreign banks. Deutsche Bank was one of these big foreign banks.

But this is not the end of it. It is now coming to light that Deutsche Bank
was itself merely a conduit, and the destination for the bailout money is
actually some big hedge funds. In essence, these hedge funds made a big bet
that housing was going to fall. It fell so much that their "bookie", AIG,
could not make good on the bet -- the "bank was broken". So now public
money is now being used to make good on the bet. In other words, not only
is the public losing vast amounts of wealth (and sometimes their homes)
because the housing market is collapsing, but the public is also paying out
vast sums to those who bet that housing would fall! The relevant article
appeared in the Wall Street Journal, available here:

Note that it is unlikely that Deutsche Bank is the only conduit - Goldman
Sachs, among others, is most likely paying out to hedge funds too...

And to cap it all off, wildman Jim Willie speculates that up to 20 or even
30 percent of mortgage bonds may actually be fraudulent -- counterfeit -- as
there is no actual property behind them. Which would help to explain why
loan modification programs have not been too effective. Even if he is only
partly right (and he does "think like a thief"), this is worse than anyone
is the mainstream imagines. His interview (audio):