A “screw” by any other name…..(Update)
There was much fore-play but in the end, we Americans got screwed again by our Neo-con masters in bailing out American Institute Group, (AIG)
The feds must be on Viagra to be able to do what they do so often and for such sustained periods of time. I note my Social Check is already being taxed at forty percent. That includes paying my share of the bail out of the S&L Crisis of the ‘80’s and ‘90’s with the help of the good Sen. McCain. Now, my check is subjected to paying shares of the Fannie Mae, Freddie Mac debacle with the addition of today’s new burden of the AIG bail out.
Six years ago when I first started getting my Social Security Checks, I did not get too comfortable knowing there were a lot of ways my check could shrink to put me into poverty and I had to think shrewdly; avoiding as many potential financial pit falls as I could fore see. I think I have done well but it is the institutional robbers I know will get me in the end. The robbers with the “Governmental stamp of approval” fueled by lobbyist. The ones Sen. Obama knows all to well they are the bad seeds of America. I speak of the shameless crooks, liars, greedy selfish monsters imitating humans.
So it is with this latest “screw”. I note with interest the BS writers all using the phrase “…$95B in exchange for 80% stake in AIG”. In my opinion, a good writer and especially a writer who knows what he is talking about would explain exactly what “80% stake” means. Explaining “80% stake” would tell me the author knows what he is talking about and wants the reader to have a full understanding of what he is saying. However and in my opinion, the absence of that information indicates the author’s knowledge of the situation is no better than my own. A wasted reading.
As always,
BB
(Update)
“*The New York Times reports (link to their story used by the Houston Chronicle that the Federal Government loaned $85 billion to bail out AIG. In return, the Federal Government now has controlling interest in AIG, an 80% interest according to Australia's ABC The government also has received the right to veto shareholder dividends. AIG will have to sell assets to pay back the loan within two years.”
Hat tip to diarist Yamaneko2 for substantive info. Facilitated 100% improvement of my knowledge of the situation. Now I know why the government had to take over AIG. Could one say our gov. was forced into the socialist mode by Neo-con greed? I wished they had not but hey, ya’ can’t win’em all!
*The Repub Red regime, same as the old Reds? AIG nationalized ($85 billion bailout loan)
by Yamaneko2
Tue Sep 16, 2008 at 11:49:11 PM PDT
http://www.dailykos.com/storyonly/2008/9/17/2323/48317/797/601285
The feds must be on Viagra to be able to do what they do so often and for such sustained periods of time. I note my Social Check is already being taxed at forty percent. That includes paying my share of the bail out of the S&L Crisis of the ‘80’s and ‘90’s with the help of the good Sen. McCain. Now, my check is subjected to paying shares of the Fannie Mae, Freddie Mac debacle with the addition of today’s new burden of the AIG bail out.
Six years ago when I first started getting my Social Security Checks, I did not get too comfortable knowing there were a lot of ways my check could shrink to put me into poverty and I had to think shrewdly; avoiding as many potential financial pit falls as I could fore see. I think I have done well but it is the institutional robbers I know will get me in the end. The robbers with the “Governmental stamp of approval” fueled by lobbyist. The ones Sen. Obama knows all to well they are the bad seeds of America. I speak of the shameless crooks, liars, greedy selfish monsters imitating humans.
So it is with this latest “screw”. I note with interest the BS writers all using the phrase “…$95B in exchange for 80% stake in AIG”. In my opinion, a good writer and especially a writer who knows what he is talking about would explain exactly what “80% stake” means. Explaining “80% stake” would tell me the author knows what he is talking about and wants the reader to have a full understanding of what he is saying. However and in my opinion, the absence of that information indicates the author’s knowledge of the situation is no better than my own. A wasted reading.
As always,
BB
(Update)
“*The New York Times reports (link to their story used by the Houston Chronicle that the Federal Government loaned $85 billion to bail out AIG. In return, the Federal Government now has controlling interest in AIG, an 80% interest according to Australia's ABC The government also has received the right to veto shareholder dividends. AIG will have to sell assets to pay back the loan within two years.”
Hat tip to diarist Yamaneko2 for substantive info. Facilitated 100% improvement of my knowledge of the situation. Now I know why the government had to take over AIG. Could one say our gov. was forced into the socialist mode by Neo-con greed? I wished they had not but hey, ya’ can’t win’em all!
*The Repub Red regime, same as the old Reds? AIG nationalized ($85 billion bailout loan)
by Yamaneko2
Tue Sep 16, 2008 at 11:49:11 PM PDT
http://www.dailykos.com/storyonly/2008/9/17/2323/48317/797/601285
posted by BB at 2:01 AM
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