On Tue, 2008-09-16 at 15:24 -0400, Perry E. Metzger wrote: > The times is wrong. The fed is loaning money to AIG.
in return for warrants for almost 80% of the company and full management control. actually, i'm not so sure it's that terrible to have a US-taxpayer takeover of the US finance sector, since while the AIG management for instance took enormous risks, the risks were to the benefit of millions of irresponsible US... taxpayers! normal govt subsidies of big companies may be like subsidies from "the little guy" to a "big company" but in this case it's to cover the big company's losses that were caused by "the little guys" not paying their bills. and being protected by government regulation from being forced to pay their bills. -rishab
