AIG Gets Additional $40 Billion From You
Congrats, taxpayers, you're about to own $40 billion more of A.I.G. [NYT]
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Ok, now I'm SURE AIG wasn't worth this much to begin with. Is all of this going to pay PMI losses? I can't think of any other way that AIG is losing this much money...
Maybe on their next hunting trip they can take Dick Cheney.
Good, AIG needs the money because "it's business as usual" and we, the idiots of United States" don't understand why AIG needs the extra money to pay those that have ruined the company in the first place.
Whoa whoa! Where the hell did this come from? The last thing I remember AIG was being lambasted for taking spa trips and hosting parties on the taxpayer's dime, now we're giving them MORE money?!
Who's the idiot that ever said our politicians reflect the wishes of those who elected them? When's the last time we removed a politician from office for performing poorly?
Democracy and "for the people" my ass...
Go go gadget free market?
I have yet to hear of any progress on the free refinancing for those facing foreclosure. let AIG fail, fund non-profit agencies to refinance their loans, that way real concerned banks will buy the mortgages that are now stable.
Somehow our government is finding ways to deliberately avoid or find reasons why common sense will not work.
The problem stems from these messed up loans, fix the loans!
So when is AIG taking me on a luxury vacation?
wait, are we actually buying parts of it now?
i was under the implression that (the first $100bn) was a loan...
@Gstein: Yes the first part was a loan. This latest money came with the price that the government gets a stake in the company.
Ugh. I don't understand how giving one company $40 billion really helps the economy. Wouldn't it make more sense to give 4 million small businesses $10000 (hint, hint)?
great, those morons are getting cash while my work (a bank) is being forced to sell ourselves to a competitor...
We actually own the same amount 79.9%, we're just giving them more money.
This is dumb! Let them fail. All we accomplish by giving them money is letting other businesses know we'll do it causing them to claim "failure" and requesting more of our money. Where does it stop? Quit raising our taxes and bailing out businesses!!!
Ugh. Great. We own more of a failing business. What's that do for us besides cost us more money? I know it gets the AIG execs another trip to Tahiti.