I heard the USA bought 80% of AIG...(I want the Government to stay out of BUSINESS, including AMTRAK!)
“I heard the USA bought 80% of AIG...(I want the Government to stay out of BUSINESS, including AMTRAK!)”
Sorry, E&L you heard wrong. The government lent AIG $85B for 79.9% of the company. This is a convertible preferred at about 12% interest. The government then can sell off the various insurance businesses to pay back the loan.
I agree that the government should be out of this but typically it makes money. Worse is BAC buying MER. That one looks nutty to me. I would be out of BAC completely if this looks like it is going through. MER is a mess.