U.S. Boosts AIG Bailout Package
No Bailout Left Behind Via BUSH!
NPR-The federal government Monday unveiled a new plan to save the troubled insurance company American International Group. It was a tacit admission that the government’s efforts so far have failed to stabilize the company.
U.S. officials already had approved more than $120 billion in loans to AIG this fall to help it deal with the credit crunch. The new plan will cost taxpayers even more than that, and there are still questions about whether it can work.
The government said it was basically scrapping the bailout plan it announced with some fanfare two months ago and starting over. AIG was heavily involved with the complex mortgage-backed securities that have been at the center of the financial market meltdown. And by this summer it was running short of cash.
“The federal government Monday unveiled a new plan”
Lovely.
Their previous plans have worked out so well.
There you go again John…blame Bush. Why don’t you blame Clinton who had as much to do with this as anybody?
Is Clinton the President? Could Bush regulate credit swaps?
bb,
Oh geez. Someone who’s been out of office for 8 years is now somehow responsible! LOL! You’ve gone off the deep end as much as the Obama supporters. Get a brain and blame Bush and Pelosi. It takes both of them to get stuff through.
Actually we should blame Alan Greenspan.
I also think it’s safe to say that Bush doesn’t have the intelligence to understand what’s really going on in the economy. Probably never did understand… so much for a Harvard MBA.
Nah, blame Ronald Reagan. He’s the one who got us on the budget blow-out path.
President Clinton reversed the trend, but the Idiot-in-Chief was determined to set new GOPer records for fiscal irresponsibility.
John,
You and I have already discussed this…the regulation law was changed under Clinton and you know it.
Blame Bush, that’s the popular thing to do…you will be with the in crowd.
Bart
The law was changed under Clinton and expanded via Bush!
And years ago I was warning people while you supported the idea!
John,
We all know you are the economic Kreskin, you remind us everyday. I don’t ever recall you bringing up credit derivatives, but if it makes you feel good, go with it.
You predicted an economic downturn to take place Q1/Q2 of 2007…you only missed by 6 quarters…does this put you in the Economic Prognostication Hall of Fame?