MORE taxpayer money for AIG (yes, AFTER they spent half million on a luxury vacation)

News Type: Event — Seeded on Wed Oct 8, 2008 6:39 PM EDT

Article Source: CNN

AIG (AIG) needs more money, it seems, and not just to pay the tab on its $400,000 California resort junket.

The Federal Reserve Bank of New York said Wednesday afternoon it will lend as much as $38 billion in additional funds to prop up AIG's troubled securities lending operation.

The announcement comes less than a month after the Fed extended $85 billion in emergency loans to keep AIG from filing from bankruptcy, and just days after the Fed said AIG had drawn down $61 billion of that credit line, in part to unwind securities lending transactions.

Published to:

nearing's Column, All of Newsvine
Groups: America's Need For Change, Corporate Watchdogs, Corporatism, EconVine, Hall of Mirrors, Our Orwellian World, Political Analysis, Skeptics, The Truth Network
Regions: none

What's this?

Who's leading the conversation?

This visualization below allows you to see the impact that each user has on the current conversation. The top row contains the group of users who have had the most impact, the 2nd row the group of users who have had the 2nd most impact (et cetera). Users with similar impact are grouped together, and the average score of the group is shown to the left of the group. The author of the article is also shown on the left, in their corresponding group. Each user's score is based on the number of comments the user has made plus the number of votes their comments have received. The scores are calculated relative one another, so while their absolute value is not particularly important, their relative difference does indicate a larger difference in impact on the conversation.

6.6

2.6

2.1

{"commentId":3389231,"authorDomain":"nearing"}

nearing

Anyone else see this bankrupting of our financial system as economic terrorism?

{"commentId":3389231,"threadId":"383302","contentId":"1972136","authorDomain":"nearing"}

5 votes

#1 - Wed Oct 8, 2008 6:40 PM EDT

{"commentId":3393446,"authorDomain":"morikawarandim"}

follow the money

unbelievable...isnt it?

{"commentId":3393446,"threadId":"383302","contentId":"1972136","authorDomain":"morikawarandim"}

1 vote

#1.1 - Wed Oct 8, 2008 11:54 PM EDT

{"commentId":3394661,"authorDomain":"tasarlai"}

Jeremiah Johnson

Yes. And I said as much just a few days ago that they should start with the Financial Terrorists on Wall Street in their ( the FBI ) new capacity to investigate people domestically.

{"commentId":3394661,"threadId":"383302","contentId":"1972136","authorDomain":"tasarlai"}

2 votes

#1.2 - Thu Oct 9, 2008 2:49 AM EDT

{"commentId":3394679,"authorDomain":"tezindenver"}

TezInDenver

Why isn't Palin calling these execs domestic terrorists?

I was dumbfounded when I heard about the luxury vacation. Then I remembered, there were no strings attached to the AIG bailout.

{"commentId":3394679,"threadId":"383302","contentId":"1972136","authorDomain":"tezindenver"}

3 votes

#1.3 - Thu Oct 9, 2008 2:53 AM EDT

{"commentId":3390001,"authorDomain":"stevehouse"}

SteveHouse

Sometimes it just makes your head spin.

{"commentId":3390001,"threadId":"383302","contentId":"1972136","authorDomain":"stevehouse"}

1 vote

#2 - Wed Oct 8, 2008 7:24 PM EDT

{"commentId":3391397,"authorDomain":"wildbutterflies13"}

wildbutterflies13

This was completely ludicrous on the part of the Fedeal Reserve and we, the taxpayers are absolutely going to be lighting up the phone and e-mail lines to Congress. If they thought we had a lot to say about the bail out, wait until they see and hear what we have to say about this BS.

{"commentId":3391397,"threadId":"383302","contentId":"1972136","authorDomain":"wildbutterflies13"}

1 vote

#3 - Wed Oct 8, 2008 8:55 PM EDT

{"commentId":3391945,"authorDomain":"sybiletc"}

Arizonan

I cannot believe this.

I mean, okay, so I have a 23 yr old son. If he got into some financial trouble, couldn't pay his rent etc. I might help him out. I wouldn't borrow money to help him out. Then if he took that money and had a party with his friends, or even some of it, and then he didn't have the rent money, No way would I give him more!!!.. and he is my son.

{"commentId":3391945,"threadId":"383302","contentId":"1972136","authorDomain":"sybiletc"}

3 votes

#4 - Wed Oct 8, 2008 9:47 PM EDT

{"commentId":3392484,"authorDomain":"stevehouse"}

SteveHouse

But your son's a human and that makes it Socialism (creepy music hits), while AIG is a business and that makes it Bailing Out The Free Market (dramatic riff of victory, think Superman). Jeez. Duh. ;)

{"commentId":3392484,"threadId":"383302","contentId":"1972136","authorDomain":"stevehouse"}

1 vote

#4.1 - Wed Oct 8, 2008 10:30 PM EDT

{"commentId":3394813,"authorDomain":"sybiletc"}

Arizonan

But your son's a human and that makes it Socialism (

Actually, It was hypothetical, because I really just helped him find a cheaper apartment, (and they are now living two doors down, with our grandson, so I had ulterior motives)... instead of helping him with money, EVER... so what does that make me?

{"commentId":3394813,"threadId":"383302","contentId":"1972136","authorDomain":"sybiletc"}

2 votes

#4.2 - Thu Oct 9, 2008 3:35 AM EDT

{"commentId":3395499,"authorDomain":"cathryndarkwind"}

Theresa Peters

so what does that make me?

uhmmm, my next presidential candidate? (seriously) this is the kind of thinking we need in our government, how to help people without wasting money.

Can we impeach the entire governing body and start fresh? Is that possible? If they give AIG more money, on top of what kind of stewards they have shown themselves to be, there should be a worldwide uproar. In the last two days I have been watching c-span2. I have seen news reports from across the world, most recently, China, Russia, and the UK. They, all of them, have stressed the importantance of Global Watchdogs (for want of a more politically correct term).

In the House of Commons in England, for instance, I watched as the The Right Honorable Persons, in response to the concerns of the people whom they represent asked questions of the Man in Charge (and forgive me for not remembering his last name) Alistair. He in turn responded with explanations, let me say that again, explanations, that I (as politically uneducated as I am) could understand. Why can't our government do that? Why can't they tell us in language we can understand exactly what is going on with our tax dollars? If that means they have to "dumb it down" then by all means, label me among the stupid.

{"commentId":3395499,"threadId":"383302","contentId":"1972136","authorDomain":"cathryndarkwind"}

2 votes

#5 - Thu Oct 9, 2008 7:19 AM EDT

{"commentId":3408152,"authorDomain":"jaymack"}

JayMack

TP...if they did "dumb it down" and speak the truth, you might move to England. (smile)

Good seed nearing. I agree with Obama in that they should call in the people who approved this junket and fire them. These people have got to come down to earth.

{"commentId":3408152,"threadId":"383302","contentId":"1972136","authorDomain":"jaymack"}

1 vote

#5.1 - Thu Oct 9, 2008 9:28 PM EDT

{"canLink":false,"threadId":"383302","isPrivate":false}

Fed Lends An Additional $38 Bln To Troubled AIG	http://www.foxbusiness.com	Wed Oct 8	1
AIG execs' retreat after bailout angers lawmakers	Associated Press	Tue Oct 7	8
After Bailout, AIG Execs Head to California Resort	ABC News	Wed Oct 8	22
After Bailout, AIG Execs Head to California Resort; Blow $400,000 on Week-Long Retreat	ABC News	Tue Oct 7	5
Fed grants AIG $37.8 billion loan	Associated Press	Wed Oct 8	0

NEARING

Backyard

MORE taxpayer money for AIG (yes, AFTER they spent half million on a luxury vacation)

Published to:

FUN STUFF:

COMPANY STUFF:

LEGAL STUFF: