Bailouts

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      Fair Game - Your Money at Work, Fixing Others’ Mistakes

      Posted by Jeff from New York Times

      o, the $85 billion loan to A.I.G. was really a bailout of the company's counterparties or trading partners. Now, inquiring minds want to know, whom did we rescue? Which large, wealthy financial institutions - counterparties to A.I.G.'s derivatives contracts - benefited from the taxpayers' $85 billion loan? Were their representatives involved in the talks that resulted in the last-minute loan? And did Lehman Brothers not get bailed out because those favored institutions were not on the hook if it failed? We'll probably never know the answers to these troubling questions. But by keeping taxpayers in the dark, regulators continue to earn our mistrust.

      2 comments

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      The New Socialism: Fed announces deal to take over ailing AIG

      Posted by Jeff from MSNBC

      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.

      1 comment

    • Bailout warnings

      Posted by SoxFirst

      With the disaster confronting America's home owners now shaping up as a hot political issue, it's no surprise that President George Bush has come up with a rescue package. And the Fed is promising "additional actions as needed". But can bailouts do more damage by flooding the market with cheap money?

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  1. thumbnail

    amitsinghcse comments on:

    Fair Game - Your Money at Work, Fixing Others’ Mistakes

    very sad to hear this

    Reply »

    11:04 pm 9/23/08
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    srebrenicagenocideinfo comments on:

    Fair Game - Your Money at Work, Fixing Others’ Mistakes

    Sad. Bailing bankrupt  shareholders goes against everything capitalism stands for.

    Reply »

    10:27 pm 9/21/08
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    srebrenicagenocideinfo comments on:

    The New Socialism: Fed announces deal to take over ailing AIG

    How can the U.S. Government bail out AIG when in fact, the U.S. government cannot even bail itself from three trillion debt?

    Reply »

    11:57 pm 9/16/08
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    Jeff

    Member since Dec 2008

    Jeff is the founder of NewsCloud. He is also a freelance writer and blogs at Idealog.

    Seattle


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    Damianmann

    Member since Dec 2008

    Damian proudly worked to elect Barack Obama and turn Nevada blue.

    Las Vegas


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