The Federal Reserve has authorised a $85bn deal to bail out the struggling insurance giant AIG.
It follows much speculation about the fate of the firm following the collapse of Lehman Brothers and the ensuing world financial uncertainty.
The plan is aimed at saving the insurer from a “disorderly failure” that could wreak economic havoc.
(Article continues below)
A central bank statement said the Federal Reserve Board made the decision “with the full support of the Treasury Department” under Section 13(3) of the Federal Reserve Act.
“The secured loan has terms and conditions designed to protect the interests of the US government and taxpayers,” the statement said.
The Fed said under the two-year facility the US government will receive a 79.9% equity interest in AIG.
“The Board determined that, in current circumstances, a disorderly failure of AIG could add to already significant levels of financial market fragility and lead to substantially higher borrowing costs, reduced household wealth and materially weaker economic performance,” the Fed said in a statement.
September 17th, 2008 at 4:28 am
This looks like a Problem-Reaction-Solution maneuver with the end game being the overt takeover of the US with a corporate fascist government.
please see this link for more information: http://conservatard.wordpress......ist-state/
The theme of the article in the link:
When government no longer represents the interests of the people, but instead represents the interests of corporations, it is a Fascist state. Despite what the American Supreme Court says, Corporations are merely legal agreements that are formed to generate profit, not people. When corporations infiltrate and dictate the agenda of a government, then that country can be said to be a fascist state.
September 17th, 2008 at 5:07 am
Ladies and gentlemen, start the printing presses… three, two, one, hyperinflation.
September 17th, 2008 at 5:18 am
One of the terms of the agreement is to replace the crooked board of directors that drove the corporation to bankruptcy with bush appointed crooks.The exiting management gets to keep the millions of dollars in bonuses that they awarded themselves .This is nothing more then legal thievery sanctioned by the U.S.government.Bush has the printing presses going full blast handing out billions of tax payer dollars, making the American dollar nothing more then a worthless piece of paper.
September 17th, 2008 at 5:48 am
Let’s see, Federal Reserve just bought AIG for 80 billion. They have assets totalling 1 trillion. Gee. Pretty good deal for the private bankers isn’t it? watch this..
http://ca.youtube.com/watch?v=XbrNSOxwXOM
September 17th, 2008 at 5:52 am
mystic shadow what you are saying makes no sense. Neither does your vid
September 17th, 2008 at 6:20 am
So, why is it fair for the big companies to be bailed out, while little Ma and Pa shops line our downtown streets, boarded up? Can someone explain that to me? Why can huge corporations file bankruptcy and still function, while individuals who file, have their finances come to an abrupt halt? Something smells rotten to me!
September 17th, 2008 at 7:09 am
I like how every single Mian Stream Media service is reporting how “the governemnt” bailed out AIG. Meanwhile it was the F.E.D. (privately owned, nothing to do with the governemnt) bailed them out. Do you know who held the Bonds for AIG ???? …………CHINA. I think we are pretty fucken screwed and I don’t think that exposing the truth about 9/11 or anything else will accomplish anything. They are trying (and winning the battle) to get the U.S, into a new currency and a One World Governemnt by “imploding” all these banks just like they imploded the World Trade Center. I’m pretty freaked out right about now.
September 17th, 2008 at 7:23 am
It’s amazing the Unfed, hasn’t wore out the presses yet. Oh! The just put it on the national visa.
I wonder if i start a company and fail. Will the Unfed bail me out with taxpayers dollars?
September 17th, 2008 at 7:37 am
This is what you get for sitting on your asses for so long. If you want things to change-change them. You all know what is happening, as it is so “in plain sight”, that they aren’t even trying to hide the screwing process anymore. They have accepted that they can force anything down your throats, and have. You must act or this will continue, and they are counting on your inaction. If you need to know what to do, there is no help for you..Period…
To effect change you must become it.
September 17th, 2008 at 8:20 am
They have created the crisis so that now they can buy all the banks. The bankers behind the FED are playing their final cards: ENDGAME has started and the prisoncamps’ doors are opened for visitors one way.
Goal is Genocide: from 6 billion humans to 500 million
Mass mandatory vacination(=infection) by getting people scared about a virus
But first of course make everybody really poor and without power (=money).
So the first step has been acted, now things will move fast, very fast.
Forget Obama and McCain, only when they are usefull they will play a small role. War with Iran and cancelation of the elections could very well be next next month.
September 17th, 2008 at 9:40 am
Oh how the poor envy the rich.
September 17th, 2008 at 9:44 am
Look at you sheep, cowardly truthers. Sitting comfortably in your computers chairs, letting your government do this to you, while supporting both corporate America and giving your tax money to the U.S. Government.
September 17th, 2008 at 9:48 am
That’s right…put a bandaid on that AX wound!
PRETTY PLEASE can we have those trillions back that were siphoned from the pentagon?
September 17th, 2008 at 3:37 pm
Peter, I think you’ve nailed it; imploding the economy is the best way to destoy this country; Sockpuppet Bush can even declare Martial Law; it doesn’t have to be a gov – er I mean a terrorist attack for that to happen. This will be worst then the Great Depression. Take away the peoples purchasing power & everyone will flounder around begging for the NWO to take care of them. God help us all.
September 17th, 2008 at 5:38 pm
Cant buy ourselves out of debt with a fiat currency.