Michael Hudson: Obama's Favoritism

The Great Swindle continues: [excerpt] ... One may ask why Wall Street’s leading offenders – Hank Greenberg of A.I.G., Charles Prince at Citibank – were bailed out as if saving them was saving “the economy” itself, while only the auto executives were told not to pay themselves such exorbitant salaries and bonuses. If the auto industry has a “bad engineering” problem for which it is being held responsible, why aren’t the banks, A.I.G. and their enablers – hedge funds on the other side of the deals that the smart boys won and the careless boys let them win – not being held to a similar standard? ... Read Michael Hudson: Obama's Favoritism