Pages

11/10/08

When does it stop? Oh it's government spending, IT DOESN'T STOP

If you give a mouse a cookie, he'll demand a glass of milk to go with it. Have you ever heard the parable of the master letting the camel stick his nose in the tent? I'll tell it to you sometime.

from Bloomberg.com

American International Group Inc. got a $150 billion government rescue package, almost doubling the initial bailout of less than two months ago as the insurer burns through cash at a record rate.

AIG will get lower interest rates and $40 billion of new capital from the government to help ease the impact of four straight quarterly deficits, including a $24.5 billion third- quarter loss posted today by the New York-based company.

Taxpayers will take on the extra risk to give Chief Executive Officer Edward Liddy more time to salvage AIG. The insurer needed U.S. help to escape bankruptcy in September after at least $40 billion in quarterly losses tied to home mortgages.


AIG was given billions in OUR money. Not government money TAXPAYER money and money the government borrowed from China. What do they do with it? Save themselves from bankruptcy? Oh NO! They send their executives on retreats. "But they were already planned before we got the money. We couldn't possibly have cancelled it could we? Our VIPs deserve it. They work so hard!" Yep, they worked hard at flushing your company into bankruptcy. HEL.LO!!!

Welcome to our government controlled country. It's no longer the USA that was organized by God-fearing men hundreds of years ago. Pretty sad. I refer you again to my previous post (most of it stolen from Orrin Woodward's blog).