nakedcapitalism.com - 11/8/2008
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The Financial Times reports that AIG is up to its old tricks, back again to the trough for more money. Christmas The Iceland credit default swaps settlement is coming soon, you know. The worst is that AIG is pretending to act as if this is a negotiation as opposed to extortion. Get a load of ...
portfolio.com - 11/10/2008
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portfolio.com —
The WSJ has details of AIG Bailout II
: Under the terms being finalized on Sunday night,...
the government would replace its original $85 billion loan with a two-year duration with a $60 billion loan with a five-year duration. Interest on the loan ...
(more)
AIG Bailout 2: Why?
opinionator.blogs.nytimes.com - 11/10/2008
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opinionator.blogs.nytimes.com —
The government deems its $123 billion bailout of
AIG too modest....
(more)
A Bigger Bailout
krugman.blogs.nytimes.com - 11/10/2008
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krugman.blogs.nytimes.com —
Did progressives get a mandate from last week's
election? Lots of people would like to claim that...
they didn't - that we're still a "center-right nation." And one of the assertions you hear to back that claim is that Obama's victory wasn't matched by ...
(more)
Bigger than Barack
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How's Your Morning Going?
small dead animals —
... And just to help your breakfast along on that round-trip ticket; This is the essence of AIG's latest proposal: Man walks into pawn broker. He says to the person behind the counter, "You know that watch I brought in two weeks ago? I know you lent me $85, but now I need another $50. And I will tell you why you will give it to me. I have a gun with me. I will blow my brains out here, right now. With your nice carpet, I guarantee it will cost you more than $50 to clean up your store. And that's before we get into the cost of keeping your store closed while you clean my grey ...
Excuse Me?
Political Animal —
... the government would give AIG more money, including $40 billion from the U.S. Treasury's $700 billion Troubled Asset Relief Program. It would also receive less interest than on the bulk of the original loan, while freeing AIG from exposure to some of the risky financial instruments that nearly caused it to file for bankruptcy protection." So: they get tens of billions of dollars, they pay less interest, and they get to transfer some of their riskiest assets to -- guess who? -- us! Yves Smith : "This is the essence of AIG's latest proposal: Man walks into pawn broker. He says ...
Excuse Me?
Obsidian Wings —
... more money, including $40 billion from the U.S. Treasury's $700 billion Troubled Asset Relief Program. It would also receive less interest than on the bulk of the original loan, while freeing AIG from exposure to some of the risky financial instruments that nearly caused it to file for bankruptcy protection."
So: they get tens of billions of dollars, they pay less interest, and they get to transfer some of their riskiest assets to -- guess who? -- us!
Yves Smith:
"This is the essence of AIG's latest proposal:
Man walks ...
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