“They compared the loan’s terms with the 5 per cent interest rate paid by the banks that recently sold preferred shares to the government.”
Which is another piece of trash. We, the taxpayers, got approximatley half the deal that the Brits or Buffett got.
It shames me that this gargage is going on under a Republican administration. Every right thinking person knew that AIG was a black hole. I say no more money - the Feds should seize their assets and parcel out the remains. No compensation for the upper management and certainly no dollars for the shareholders. The bondholders simply have to stand in line like the rest (or go to the Plan B proposal of turning those bond holders into equity holders of the company, after we get repaid of course.
Bush gets hustled again.