AIG Needs More Money?!
October 10, 2008 by Godfather
The AIG bailout is getting more and more representational of a monumental screw- up than a legitimate government assistance bailout.
If you remember, the government agreed in September to give $85 billion to faltering AIG to avoid a collapse in the economy (mmmm, how did that work out for you?).
AIG was so happy with the bailout that saved their company and their jobs they continued on with a $440,000 posh California retreat just days after the bailout.
But wait, there is more. Buried in the news…
AIG is saying they need more money. And the government, in such a giving mood right now, gave it to them. How much you ask?
$37.8 billion.
Yes, that is on top of the $85 billion in September.
“The bottom line is, they need more liquidity than they thought,” said Mark Lane, an analyst for William Balir & Co.
You just can’t make this S#%@ up! When will the government learn their lesson? When will someone make some solid decisions? Just say “no!” – even a four-year-old knows that!
Don’t get me wrong; I don’t blame the government – exclusively – for the economic downturn. Frankly, we are all to blame. We, as a country, have been living in excess and mixed up priorities for some time.
What we do going forward is key to our future and I have yet to see a fundamentally sound decision being made in the last month.
“PS. Like the photo? I have long since run out of “money” related photos lately!”
And the rest of us have just long since run out of money..nevermind the photos!