AIG May be Failing Despite $143 Billion Bailout...
So, what happens when we, the taxpayers, lose all of our "investment" in this firm? These bastards need to be stopped.
The Government will just NATIONALIZE the Insurance Giant... and not add BAILOUT Money, because the U.S. Federal Reserve/U.S. Government ALREADY OWNS, AIG.
The Fed authorized the Federal Reserve Bank of New York to lend AIG (AIG, Fortune 500) up to $85 billion. In return, the federal government will receive a 79.9% stake in the company
NOW, get this... Okay, if WE THE PEOPLE,
own 79.9% of AIG when we gave them $85 BILLION, then HOW MUCH of AIG do 'WE THE PEOPLE' OWN when the total is NOW
$143 BILLION?
Com'on... do the math!
Okay to buy 100% of AIG = $106,382978723.40 (that's $106+ BILLION)
BUT the FED RESERVE has given AIG, $143 BILLION... so that means:
We own: 134.42% of AIG!
WooHoo! We OWN 34.42% more of AIG than they're worth!
NOW there's a Great Investment for Warren Buffet!
There's a perfect example of VooDoo Economics!
GESUS, We're ALL being SCAMMED!
The INFO:
Officials decided they must act lest the nation’s largest insurer file bankruptcy. Such a move would roil world markets since AIG (AIG, Fortune 500) has $1.1 trillion in assets and 74 million clients in 130 countries.
Just to be clear, we taxpayers now have a 79% stake in AIG. We own a majority share in what is essentially a bankrupt company. Why? Because the geniuses at the Federal Reserve decided that the couldn’t let an insurance company fail
Forget that companies fail all the time in this country without the federal government swooping in to save them. Forget that companies failing is the sort of thing that makes our markets stronger by punishing bad practices and rewarding good practices. None of that matters any more
Because apparently America is not a capitalist country any more
Maybe we should just pack it in and have the government nationalize all the companies. We can buy our cars from the government. We can get our loans from the government. Everything will be perfect, right? I mean, that sort of government has a pretty good track record throughout history right?
And before anyone suggests that this is done to save the economy, let’s remember that this doesn’t fix anything. What the politicians are doing is putting a band aid on a bad situation and then passing it on down the line. Unless we stop bailing these idiots out (and I understand that would mean weathering some tough economics time), we’re just going to be seeing the same problems again in another decade
