Here we go again. It seems that the government can’t make up it mind, yes I know that AIG is the Insurance leader and if it failed it would be very bad for everyone in this country, but when is the government going to stop flip-flopping on their decisions on who they’ll save and who they won’t.
the Central Bank stated in a statement that was posted on their website on Tuesday, “The [Federal Reserve] 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”.
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I mean how much worse can it get? The market dropped Monday 504 points after it decided to not throw Lehman a life line and yesterday they take a 80% stake in AIG and the market goes up 141 point. How much more instability do they want to see that there is no confidence in the American economy? I don’t know about you, but I expect another plunge in the Dow as well as the NASDAQ that again I’m going to sit on the sideline. As for my IRA account, I won’t be needing that for another 15 years or so and since it’s a nice nest egg, I’m going to just leave it where it is for now.
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Our fearless leader in the Treasury department said on Monday, “What is going on right now in New York has got nothing to do with any bridge loan from the government,” Then what the hell is going on there Paulie?
The $85 billion loan that came from the Federal Reserve is aimed at keeping AIG out of bankruptcy and to stop the acceleration of the world credit crisis. Why is it that the taxpayers of the United States of America have to save the world economy? The last time I check, half of them have a problem with us and the other half don’t care about us either way.
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I’m very frustrated from all this B.S. in our government right now. there is way to much government spending and no one is minding the store. The inmates are running the asylum and there not a damn thing we can do about it.
Then again if Obama wants to show that he’s for change, then maybe he can give the government that excess $70 million dollars that he received last month in donations to show that he really wants to help the country and that he’s not in it for himself.
Just to let you know… I’m not holding my breath.
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P.S. while I’m thinking about it, Why did Fannie Mae and Freddie Mac give $125,000 to Obama (the second highest Senator) over the last three years. What is a government sponsored mortgage lender doing giving money to a politician?
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