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Federal Reserve Considering $85 Billion Bailout of AIG [U.S. Government taking over?]
The Wall Street Journal ^ | 2008-09-16 19:00 Eastern

Posted on 09/16/2008 4:22:50 PM PDT by rabscuttle385

The Federal Reserve is considering an $85 billion rescue for embattled American International Group that could leave the government in control of the firm, according to people familiar with the matter, though the structure of a deal remains unclear.

(Excerpt) Read more at online.wsj.com ...


TOPICS: Breaking News; Business/Economy; News/Current Events
KEYWORDS: 110th; aig; bailout; bailouts; economy; fed; federalreserve; govwatch; insurance; socialism
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To: markedmannerf

This is just the beginning. Be watching for a bail out of Ford, GM, Chrysler, United Airlines, Delta, trucking (etc.). In the end our money will be worthless and a depression ensues.


61 posted on 09/16/2008 5:08:53 PM PDT by DownInFlames (C)
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To: politicket

I’m following the developments at the financial blog Calculated Risk. As someone there put it, at this point the Federal Reserve has literally become a taxpayer-funded hedge fund.

You are looking at the grossest expansion of federal executive power in recent history.


62 posted on 09/16/2008 5:10:48 PM PDT by too_cool_for_skool
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To: rabscuttle385

Where will it stop? How many institutions is the government going to nationalize? Why are more people not bothered by this?


63 posted on 09/16/2008 5:11:14 PM PDT by djsherin
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To: politicket
Somebody please remind me what country I live in again?...

China is our banker. If they want AIG bailed out, the Fed had damn well better start bailing. Paulson and the Administration don't get a vote - and neither do the taxpayers.

64 posted on 09/16/2008 5:11:27 PM PDT by Mr. Jeeves ("One man's 'magic' is another man's engineering. 'Supernatural' is a null word." -- Robert Heinlein)
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To: djsherin

We have become the Union of Socialists States of America (USSA).


65 posted on 09/16/2008 5:12:48 PM PDT by Comparative Advantage
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To: rabscuttle385

A tax cut shouldn’t be a problem since they’re not concerned about giving it away. It’s a one party cartel.


66 posted on 09/16/2008 5:14:51 PM PDT by VRWC For Truth (Palin is sugar on a turd ... No mas Juan "Traitor Rat" McAmnesty)
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To: too_cool_for_skool
You are looking at the grossest expansion of federal executive power in recent history.

That's less than half of it. They are just being told what to do by the Feds.

The thing to really keep an eye on is the largest expansion of Federal Reserve power in history.

67 posted on 09/16/2008 5:15:04 PM PDT by politicket (Palin-tology: (n) - The science of kicking Barack Obambi's butt!)
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To: DownInFlames
The Bank of Zimbabwe has offered to guarantee US Treasury notes.
68 posted on 09/16/2008 5:16:54 PM PDT by Leisler
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To: Comparative Advantage
Saw this earlier:

in capitalist russia, stock markets crash.
in soviet america, stock markets crash you.

I'd cry if I didn't laugh.

69 posted on 09/16/2008 5:17:38 PM PDT by too_cool_for_skool
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To: rabscuttle385

I guess Lehman didn’t donate enough to the politicians in charge.


70 posted on 09/16/2008 5:18:09 PM PDT by mysterio
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To: Moonman62
Federal Reserve will be using its own money for a bridge loan and will get warrants in return

I read that AIG will begin selling some of its assets within 2 weeks to begin repaying the loan, thereby reducing the warrants.

71 posted on 09/16/2008 5:19:01 PM PDT by what's up
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To: jsh3180
RE: AIG's $trillion dollars of assets

I'm basing this mostly on the Tom Sullivan shows of the last two days. My understanding is that AIG's assets include some very expensive property, corporations, and stuff like that.

The problem I believe is that it will take time to sell the assets otherwise the assets would have to be virtually given away to sell them immediately.

72 posted on 09/16/2008 5:20:47 PM PDT by WilliamofCarmichael (If modern America's Man on Horseback is out there, Get on the damn horse already!)
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To: too_cool_for_skool
You got grandkids? If so, that's where the money is coming from.

If it is down to the US Gooberment, its employees, their pensions and your grandkids being worked like Haitian street dogs on Chinese Food Day, the kids lose.

73 posted on 09/16/2008 5:21:45 PM PDT by Leisler
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To: jersey117

If AIG goes down .... it could hurt so many people.
They are so big, they are part of the DJ average.
If they crash .... wow.

If they bail it out and sell it off or have them pay back, that might be best.


74 posted on 09/16/2008 5:22:28 PM PDT by PA-RIVER
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To: padre35
no fan of seeing huge businesses fail,...

It happens all the time and letting business take it's course to create a better business atmosphere via losers and gainers is a true defining factor of a "FREE COUNTRY".

Government dictation is the definition of totalitarianism.

75 posted on 09/16/2008 5:22:55 PM PDT by EGPWS (Trust in God, question everyone else)
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To: rabscuttle385

A lot of people don’t get this. AIG insures a bunch of government bonds. Without them cities and states couldn’t run deficits. That’s why NY offered up a chunk of change.


76 posted on 09/16/2008 5:24:52 PM PDT by oldleft
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To: EGPWS

Perhaps, better a slow decline then a trapdoor failure.


77 posted on 09/16/2008 5:25:11 PM PDT by padre35 (Sarah Palin is the one we've been waiting for..Rom 10.10..)
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To: rabscuttle385

Mayer Amschel Rothschild:

“Give me control of a nation’s money
and I care not who makes the laws.”

to put it in a nutshell, the Creature from Jekyll Island; then along came Greenspan....then further along came Christopher Cox.......the saga continues with Fannie, Freddie, and now AIG......


78 posted on 09/16/2008 5:25:45 PM PDT by Vn_survivor_67-68 (CALL CONGRESSCRITTERS TOLL-FREE @ 1-800-965-4701)
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To: rabscuttle385
The Federal Reserve is considering an $85 billion rescueTAKEOVER to promote the furthering of a loss of personal freedom in a free nation via financial strangulation.
79 posted on 09/16/2008 5:26:34 PM PDT by EGPWS (Trust in God, question everyone else)
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To: rabscuttle385

Epic Fail Guy.

80 posted on 09/16/2008 5:26:55 PM PDT by M203M4 (True Universal Suffrage: Pets of dead illegal-immigrant felons voting Democrat (twice))
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