CHARLOTTE, N.C. - Struggling insurer American International Group Inc. will receive up to $30 billion in additional federal assistance in the fourth government rescue of the company, a person familiar with the matter told The Associated Press on Sunday.
The new infusion is intended to prop up AIG — once the world's largest insurer — as it is expected to announce $60 billion in quarterly losses early Monday, the source said on the condition of anonymity because the discussions are still ongoing.
The company, which is considered too large to fail, previously received about $150 billion in loans from the government, which now has an 80 percent stake in the company.
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Words cannot describe how offended I am by this action. THERE ARE PEOPLE STARVING IN THIS COUNTRY!!! WHAT ABOUT THEM???
Stuff like this is just inexplicable. If I were able to, I would move the hell out of this broken country.
ReplyDeleteNo Country For An Old Man -2, starring Edam
ReplyDeleteThat's more true than you may think it is. I am pretty much disgusted with this country at the moment, unfortunately I have nowhere that I can go.
ReplyDeleteI hear Mexico is accepting American retirees and the retirees are quite happy. And, it's close to Texas - pretty close, anyway!
ReplyDeleteWell, I'd think about it except that I like cooler weather, Mexico is essentially a country without a police force, the police are the major source of crime in Mexico, and are almost certainly behind the growing epidemic of kidnappings of foreigners, I don't speak Spanish so won't know when people are talking about me, and I have no way to get there. Other than that though...Now, Saskatchewan, Iceland, Italy or Scotland would be nice, but then there's that pesky no way to get there again.
ReplyDelete