If the Feds didn’t bail out AIG, the banking and insurance sectors might have completely collapsed. I’m not happy about it, but I understand why they did it.
Even if SNL was making fun of the “media” I find nothing funny about incest, sexual molestation, or anything along those lines. Would the same joke had been funny to these people if used with respect to Chelsea and Bill Clinton?
Second Try - Sorry if a double post.
“Articulate Men Articulated” - ummm not so articulate there were we????
At least when the government acquired 79.9% AIG for a convertible preferred LOAN at LIBOR plus 8 we got real assets and cash to back up the loan and we get to cramdown the AIG debt. I look at a lot of transactions and this one is onesided. I hear some of the AIG share holders bitching about it.
The other thing the government is doing is a little, to a lot, more troubling. The Wall Street bail out could end up a Christmas Tree and I hope the FDIC is very careful in evaluating the assets of the BDs that want to morph into banks.