Thursday, November 20, 2008

In fact... give us our money back

After all, it's our (the taxpaying public's) money; we have a right to know where that money goes, what debts are being paid and however else those billions are being used. It's time, fumes Cramer, for AIG to open its "big book of business" and "show us the money!"

Cramer then aims his personal Outrage at the market "wizards" and know-it-alls -- you know, the ones you see crowing about how they saw this financial crisis coming and got out and, oh yeah, made a ton of money and are doing absolutely great, thank you very much.

To those smirking faces, this is what Cramer has to say: "Shut the heck up."

After all, "people are losing fortunes, their savings, their nest eggs, college tuition money, hard earned and hard to earn dollars in this stock market." Do these people -- or ANY honest, hard-working people -- need to hear that kind of smug, self-congratulatory crap? What happened to common decency and courtesy -- if not actual empathy?
As the market tanks:
Dow Could Hit 6,500

Expect a further 10%-15% drop in the Dow, predicts Ron Ianieri, chief markets strategist at Options University, adding that the index could slide to 6,500.

And there it goes...
Dow Jones Industrial Average
So. You CEOs who fly private jets to come and ask for more money... you morons who go to private spas and partridge shoots while on the taxpayer's dime... The party is over. And you guys are now accountable to us.

Where did the money go?

Because we want it back.

Update: Josh Marshall of TPM is making a list:
We're focusing today on Mack "MackDaddy" Whittle, longtime CEO of South Financial Group, who pushed up his retirement last month so he could cash out with a $18 million Golden Parachute just before sending his bank hat in hand to the Feds to get $347 million in choice Grade A Prime bailout money.


But we also know Whittle isn't the only one who's pulled something like this. And we want to put together a list of everyone who has. It doesn't have to be precisely like this. Gazillion dollar corporate retreats while you've turned your company over to the Treasury Department's corporate ICU will do fine as well.

So let us know all the examples you can think of.

Late Update: Surprise, surprise -- turns out Whittle was a part of McCain's South Carolina finance team. And now a shareholder is suing him to cough up some of the loot.

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