AmericanTruckersAtWar

Professional, Polite, Prepared to Kill

Government Officials Said to Consider AIG Conservatorship Plan

Sept. 16 (Bloomberg) — Regulators are considering putting American International Group Inc. into conservatorship while the Federal Reserve is in talks about a “loan package” as time runs out for the insurer to raise cash, according to three people briefed on negotiations involving U.S. and state officials.

Executives from AIG, bankers and Treasury and Federal Reserve officials were meeting today at the New York Fed, said two of the people, who declined to be named because the talks are private. Treasury spokeswoman Michele Davis declined to comment. David Neustadt, a spokesman for New York State Insurance Superintendent Eric Dinallo, had no immediate comment.  More from Bloomberg

Let me make it perfectly clear – NO private institution should receive Federal tax dollars to bail them out.  It doesn’t matter if it is AIG, FannieMae, FreddieMac, Lehman Brothers….  This is the biggest scandal of our time and we should be seeing people prosecuted (including those politicians who received campaign funds from these companies) for fraud, not receiving our tax dollars as a reward for bad judgement and potential fraud.  If it were you or me, the typical American, we would be buried beneath the jail.   Lending money for homes to people who could ill afford them is stupid and our tax dollars should not bail out the company or the person who bought the house in the first place. 

The Housing and Economic Recovery Act of 2008, sponsored by the usual Socialist suspects, Bailout Barney  Frank (D-MA), No-Drill Nancy Pelosi (D-CA), Chuck Schumer (D-NY) and a host of others amounts to nothing more than redistribution of wealth (aka Communism).

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September 16, 2008 - Posted by | BOLO and Crime, economy, Politics | , , ,

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