Comment Up
Another failed Obama bailout--Does anyone in the 51% ever get ticked off at this?
Our own National Intelligence Council predicts that the
United States will lose its superpower status by 2030, but that no
country -- including China -- will be a hegemonic power. Instead, the report says, power will shift to "networks and coalitions in a multipolar world." It doesn't appear that way when you read about China's latest acquisition.
The United States Federal Reserve Bank
on September 16, 2008 created an $85 billion credit facility to enable
the company to meet increased collateral obligations consequent to the
credit rating downgrade, in exchange for the issuance of a stock warrant to the Federal Reserve Bank for 79.9% of the equity of AIG. In March 2009, AIG announced that they were paying $165 million in
executive bonuses. Total bonuses for the financial unit could reach
$450 million and bonuses for the entire company could reach $1.2 billion.
American International Group Inc (AIG.N) will sell nearly all of its aircraft leasing business ILFC (ILFC.N) to a Chinese consortium for up to $4.8 billion, in a deal that gives the fastest growing aviation market easier and cheaper access to planes.
But the sale is at a far cheaper price than AIG sought and will lead to a substantial loss, the insurer's price for getting out of its last major non-core asset following the U.S. government bailout of the company in the financial crisis.
Read more... at Reuters.
You do know the big bank bailout was dreamed up and orchestrated by a republican white house and congress long before Obama took office right?
ReplyDeleteWhy don't you post a blog about how G.M. just repaid the government all the bailout money they received while Obama WAS president?
I guess they don't report that on Fox News.
GM received $51 billion in bailout funds and has paid Treasury about $24 billion, mostly with the proceeds of its November 2010 initial public offering. Treasury still holds about 500 million shares of GM, worth about $11.5 billion at current prices. But those shares would have had to rise to almost $57 a share from its current price of $23.14 in order for taxpayers to break even.
ReplyDeletehttp://money.cnn.com/2012/09/11/news/companies/taxpayer-bailouts/index.html