Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

U.S. Extends $38 Billion In New Loans to AIG (on TOP OF original $85 Billion)

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
 
wordpix Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-13-08 07:29 AM
Original message
U.S. Extends $38 Billion In New Loans to AIG (on TOP OF original $85 Billion)
Don't know if this was posted earlier---it's from Thur, 10/8/08.

Congress and Obama, look what Treasury has done the day after you were steaming about AIG's use of bailout $ for its luxury executive junket. :puke: :grr:

This needs to be investigated, big time. Haul these assholes up to Congress, including that top a-hole, Paulson, whose hundred$ of million$ in diamond parachute money from Goldman Sachs is tied to AIG. :grr: :mad:

http://www.washingtonpost.com/wp-dyn/content/article/20...

U.S. Extends $38 Billion In New Loans to AIG

By Peter Whoriskey
Washington Post Staff Writer
Thursday, October 9, 2008; Page D01

Turns out the $85 billion bailout loan for AIG wasn't enough.

The company's survival apparently requires another $38 billion in cash, and yesterday the Federal Reserve authorized loaning that much more to the struggling insurance giant. snip

This cash infusion comes a day after angry lawmakers criticized AIG for its spending habits during a House hearing.

Among other things, AIG is paying one of the executives who led the company into some of its most costly mistakes $1 million a month as a consulting fee to help it unwind his bad investments. And just a week after the first bailout, the company treated some of its executives and some high-performing life insurance agents to a weeklong stay at the pricey St. Regis Resort in Monarch Beach, Calif. Total cost for the spree: $440,000. snip


Printer Friendly | Permalink |  | Top
jimshoes Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-13-08 07:56 AM
Response to Original message
1. Is this normal when the bookie can't pay off
Edited on Mon Oct-13-08 07:59 AM by jimshoes
the bets? Get a loan from Uncle Sam?

Edit: I guess it depends on who made the bet. (BFEE perhaps)
Printer Friendly | Permalink |  | Top
 
wordpix Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-13-08 08:10 AM
Response to Reply #1
2. Paulson et al installed to get what remains of Treasury's loot before
BushCo falls.
Printer Friendly | Permalink |  | Top
 
htuttle Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-13-08 08:23 AM
Response to Original message
3. The market cap of AIG is less than $10 billion dollars
Edited on Mon Oct-13-08 08:23 AM by htuttle
The government could have bought every damned share of AIG for a fraction of the money they are shoveling into the pockets of their cronies.

This is blatant.

Printer Friendly | Permalink |  | Top
 
wordpix Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-13-08 10:18 AM
Response to Reply #3
4. "blatant" but no one in gov seems to notice. HEY CONGRESS! Take a look
Printer Friendly | Permalink |  | Top
 
gratuitous Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-13-08 10:21 AM
Response to Original message
5. Time for another retreat, methinks
Let's see, where will AIG executives go this time? I hear Cabo is nice, but it's gotten pretty touristy. Is the typhoon season over? Any Asian kiddie sex tours that they can go on? After all, AIG has to raise its public image somehow.
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Tue Sep 23rd 2014, 08:46 PM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC