Tuesday, September 16, 2008
AIG gets its capital. If it agrees to sell itself to the Feds. It gets $85 billion in exchange for 80% of equity.
Good thing we don't live in a socialist country where the government owns the economic engines that drive our fortunes. No sirree. We have free markets here in the USA. Unless a big bad insurance corporation gets itself in a bigger badder bind that promises to kill Santa and all his reindeer with a global tsunami of financial destruction. Can't have that, children.
I gotta figure out who gets the Pig Lips Prize on this one, but it just might be John McCain's turn for his idiotic, feckless, faux populist cant about Wall Street fat cats in this morning's remarks on who's to blame for the credit meltdown.
I await with pleasure the video of big bad John kicking serious Carly Fiorina beeehind on account of her $42 million severance deal with HP.