online.wsj.com - 11/10/2008
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The U.S. government reached a deal Sunday night to scrap its original $123 billion bailout of American International Group Inc. and replace it with a new $150 billion package, according to people familiar with the matter. While the arrangement stands to considerably ease terms on the faltering ...
online.wsj.com - 11/10/2008
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online.wsj.com —
The government is near a deal to scrap
its original $123 billion bailout of AIG and replace...
it with a new $150 billion package, easing terms on the insurer.
(more)
U.S., AIG Near Rescue Plan Overhaul
Comments
Blog Reactions
Excuse Me?
Political Animal —
... regulations as may be necessary or appropriate to carry out the purposes of this section and section 383". I am not a lawyer, still less a tax lawyer, but offhand, I would not have thought that rescinding a law counts as promulgating a regulation necessary or appropriate to carry out its purposes. And if it doesn't, it's not clear where Secretary Paulson gets the authority to give banks a twelve-figure tax break. Meanwhile, in other news, Treasury seems to be about to shovel around $40 billion more at AIG: "Under the terms ironed out late Sunday, the government would give AIG ...
Excuse Me?
Obsidian Wings —
... as may be necessary or appropriate to carry out the purposes of this section and section 383". I am not a lawyer, still less a tax lawyer, but offhand, I would not have thought that rescinding a law counts as promulgating a regulation necessary or appropriate to carry out its purposes. And if it doesn't, it's not clear where Secretary Paulson gets the authority to give banks a twelve-figure tax break.
Meanwhile, in other news, Treasury seems to be about to shovel around $40 billion more at AIG:
"Under the terms ironed out late Sunday, the government ...
Hullabaloo —
... . It's what makes these reversals so politically treacherous. You can't pull the rug from AIG because they're too big to fail. You can't find out ...
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