With all of the financial turmoil in our nation recently, all I can say is well, thank God, we, the people, voted for the Republicans in 2000 and 2004 who firmly believe in the free market system and its ability to regulate itself via success of companies that make good decisions and failure of companies that make poor decisions.
http://www.foxnews.com/...
Government Bails Out AIG With $85 Billion Loan
Oh... well, I’m sure it’s just a temporary loan. I mean, hey, it’s not like we’re being run by a bunch of Socialist Democrats who would probably nationalize the thing, right? Fannie Mae and Freddy Mac were quasi-government bodies to begin with, but socializing a private company and taking on their liabilities would just be crazy, right?
http://money.cnn.com/...
In return, the government will receive a 79.9 percent stake in AIG.
Uh... Well, I’m sure they had a really good reason for doing so.
Its failure could also "lead to substantially higher borrowing costs, reduced household wealth and materially weaker economic performance," the Fed said in a statement.
See. Okay, that’s a reason... I guess, for jumping on the Socialism bandwagon. As long as banks continue to feel confident enough to keep lending money, I guess it might be worth it.
http://online.wsj.com/...
Banks abruptly stopped lending to each other or charged exorbitantly high rates Tuesday, threatening to spread the troubles of American International Group Inc. and Lehman Brothers Holdings Inc. to a broad range of financial institutions and the global economy.
Eww... that’s not good at all. But... at least this will lead to more market stability and stocks will be up?
http://www.bloomberg.com/...
U.S. stocks tumbled as bank lending seized up in the wake of the government's takeover of American International Group Inc. and investors fled to the relative safety of Treasuries.
Motherf***er!
Yeah... thank God we're not being led by those Socialist Democrats, eh?