[marshmallow]

First Zero bails-out AIG and blows a couple trillion ... then AIG turns around in it's total greed and brings down BOA, precipitating another round of TBTF (too big to fail) ...

It was 2008 when AIG almost detonated. Ergo, it was Obama's illustrious predecessor, George Dubya Bush who rescued AIG.

Much of that money has now been repaid by AIG which has managed to unwind many of its derivatives and sell off some of its profitable operations.

I can't imagine why AIG would go after BoA. I mean BoA only bought mega CDS on a bunch of crap mortgages while telling AIG that they were rock solid. Fraud is no big deal, is it?

[Roccus]

Too many people get their info from sound bites.

[Nobel_1]

marshmallow ... sounds soft ... perhaps from a liberal chat room?

AIG intent listed in detail ... read at http://www.docstoc.com/docs/88884809/AIG-versus-BAC-8-8-2011

and http://www.zerohedge.com/news/here-comes-tarp-2-bank-america-implodes-687-bac-cds-20-260-bps-bankruptcy-contemplated

See CitiGroup breaking news at http://www.zerohedge.com/news/bank-america-just-start-paulsons-problems-behold-citigroup

[Nobel_1]

RE: AIG and BOA Tarp 1 details

ah, finally the homework is done ...

Oct 2008 - “The CBO found that through December 31, 2008, transactions under the TARP totaled $247 billion. According to the CBO’s report, the Treasury had purchased $178 billion in shares of preferred stock and warrants from 214 U.S. financial institutions through its Capital Purchase Program (CPP). This included the purchase of $40 billion of preferred stock in AIG, $25 billion of preferred stock in Citigroup, and $15 billion of preferred stock in Bank of America.”

Jan 2009 - CitiGroup 2nd tranche of $20 billion; BOA 2nd tranche of $20 billion (Zero’s watch)

http://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program