In the complicated world of finances post 2008 what the rescued American insurance giant AIG is about to do may seem harsh, but could actually see the Federal government held responsible for it's actions when everything went breasts up.
So whilst AIG has been saying publicly saying "Thank You" for being bailed out, it's board is now considering joining a class action of it's shareholders against the Federal Government for it's handling of the rescue.
Part of the class action alleges that billions of dollars were funnelled via Wall Street to settle credit-default swaps that AIG had with banks like Goldman Sachs. So to the Public it appeared AIG it's self was being bailed out, actually it's difficulties were being used to hide the covert propping up of bankrupt American banks.
A plan worthy of our Fruitcake frae Kirkcaldy and one he's probably kicking himself over not using to bail out his failed Scottish banks.
Still it'll be interesting to see if AIG do join this class action, biting the hand that fed it when no one else would. Or will the threat of it joining, force the Fed to settle out of court?
Otherwise we might see an awful lot of dirty bankers' linen get washed out in public.
It would appear that Richard Branson is a very shrewd business operator, as Virgin Megastore France which he bailed out of in 2001, has now filed for insolvency.
So either he had a very good business crystal ball or, just plain lucky?
I can remember the Virgin Megastore we had near us, always busy and the staff were very good. It didn't matter how obscure a song or film was, if it was available they knew how to get hold of it or, where it was in the store.
I wonder where staff like that ended up after t'internet replaced them?
They were the sort of people who would have been an asset to Virgin or, whoever took it over later, but would those sort of skills/knowledge be easily transferred?
Well I wonder if the Fruitcake frae Kirkcaldy and Blinky Balls will be travelling together to Davos or, will Blinky not wish to be seen in public with his former boss/extra special friend?
Yes it's tin foil hatters time again!
I doubt if Boy George has been invited, he's the sort of wimpish failure they don't like to have attending, gives the group a bad image.
Well I hope the Met Office have got their very short term forecast right, sunshine for today and they won't be amending it.
Of course if they did update it on the quiet the Beeb would be telling us straight away.
I'd hate to have my picnic spoilt or, not pack a raincoat, when I venture out on a family-free adventure today.