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Ξ September 17th, 2008 | → 1 Comments | ∇ Uncategorized |
Breaking News: Another Government/Taxpayer Bailout!
straight away again the regime stepped in to bail out yet another botched company. with no sprightliness preserver from the enlisted man sector and a reckless after hour reaction pulling Stock Exchange futures down 130 points, the government once again came to the rescue with an $85 billion injection of taxpayer money to bail out failed insurer, american intercontinental group (aig) inc.
Saying its failure would further disrupt markets and threaten the already fragile economy, the Federal Reserve made a deal to provide a two-year $85 billion emergency loan to AIG where the government will get a 79.9 percent stake and the right to remove senior management.
The Fed’s move was part of a concerted push to help calm jittery markets and investors around the world. How many more failed businesses can the federal government bail out? Take the OhMyGov! readers poll and let everyone know.
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