« Palin Assumed Feds Would Fund the 'Bridge to Nowhere' | pv2k's Blog | Republican Lawmaker Calls Flight Attendant 'pain in the ass' »
THE BAILOUT IS ON - Government announces $85 billion loan to save AIG
Government announces $85 billion loan to save AIG
WASHINGTON - In a bid to save financial markets and economy from further turmoil, the U.S. government agreed Tuesday to provide an $85 billion emergency loan to rescue the huge insurer AIG. The Federal Reserve said in a statement it determined that a disorderly failure of AIG could hurt the already delicate financial markets and the economy.
http://news.yahoo.com/s/ap/ap_on_bi_ge/aig
This is what McCain meant when he said the fundamentals of the economy are strong.
WASHINGTON - In a bid to save financial markets and economy from further turmoil, the U.S. government agreed Tuesday to provide an $85 billion emergency loan to rescue the huge insurer AIG. The Federal Reserve said in a statement it determined that a disorderly failure of AIG could hurt the already delicate financial markets and the economy.
http://news.yahoo.com/s/ap/ap_on_bi_ge/aig
This is what McCain meant when he said the fundamentals of the economy are strong.
Advertisement
I don't know why that link does not work.
September 16, 2008 10:00 PM | Reply | Permalink
If you think things are bad here they are going to really erode fast overseas.
Anybody imagining that the EURO can come up with the votes to bailout their institutions are CRAZY!
You will see oil go lower, dollar higher, and the circumstance worsen.
The dollar irrespective of Dim or Repug will remain when all this is over....
See my post above.. I expect overseas markets and their investors to get the real ass burn
September 16, 2008 10:11 PM | Reply | Permalink
I see what you mean.
September 16, 2008 10:15 PM | Reply | Permalink
What a fucking disgrace.
If this were any other business, that "bank" and everyone working for it would be out on the streets with nothing other than foodstamps to get them though.
As it is, the people that caused these failures get their very own, taxpayer-subsidized golden parachutes. They get to keep their job and their status as employed, white-collar workers.
They never get to see how the other side lives. They never get to experience the frustration and shame of being unemployed. Because of this, they'll never really sympathize with those who do, and because they don't, they'll be the next generation of privileged, forever-rich people that just can't understand why poor people can't find and keep jobs.
Those people that just got their jobs saved? I bet the entirety of the 401(k) that they'll gladly lambaste the poor for "shiftlessness" and lack of initiative.
September 16, 2008 11:19 PM | Reply | Permalink