Anticipating Problems At Fannie And Freddie

    John McCain did. Barack Obama got oodles of cash from Fannie and Freddie and of course, if John McCain was in that position, friends of Obama would be speculating far and wide that McCain essentially got paid to turn a blind eye to Fannie’s and Freddie’s problems. Messing up what “AIG” stands for is pretty impressive too. At least Sarah Palin could claim that there | Read More »

    AIG And Its Aftermath

    Just when I thought that the age of bailouts had come to an end with the Treasury and Fed agreeing to let Lehman bite the dust for its various poor investment decisions, I am confronted with the Treasury and Fed deciding to bail out AIG. Needless to say, this is appalling. The Fannie Mae and Freddie Mac nationalizations were explained away with the argument that | Read More »


    That is the only word for this trend of government bailouts and buyouts. I will concede that these companies are important to the stability of our economy, but tell me why the Federal Reserve has to wait all weekend to decide to bail out AIG? If it had been done on Friday, the cost to the American Tax Payer would have been substantially lower. Yet | Read More »

    Please someone tell me this

    Who holds the Federal Reserve Bank of New York responsible for their actions with taxpayer monies? They are not elected. They can spend our money, but we cannot toss them out at the polls. We must toss out other people and then hope that those people take action. How does this happen? This is not about whether AIG needed saving or not. This is about | Read More »


    The United States Acquires AIG, the Largest American Insurance Company

    There’s no way to understate the enormity of what happened yesterday evening, ladies and gentlemen. Yesterday morning, I wrote in this space that it was the first day of the rest of Wall Street’s life. But then, the Federal Reserve rebooted the financial world. Today is the first day of a brand new life. The events of the past four days have been so momentous | Read More »

    Congrats! We have just bought AIG

    Congratulations fellow taxpayers. Tomorrow the Federal Reserve will use our money and take 80% of the failing and about to be bankrupt AIG. What a great opportunity this is for us to show the world how benevolent we Americans are. In the interest of financial markets stability (is there really such a thing?) we will embark upon one of the biggest corporate welfare moves in | Read More »

    Disgusting. Disgusting. Disgusting

    The Federal Reserve will own 80% of AIG. It is disgusting and dangerous that a government institution would, in one fell swoop, own so much of a private institution. It provides an advantage to AIG that other corporations do not have — government backing. It provides incentive to other major corporations to be irresponsible knowing that the Feds will bail them out. Bernanke should be | Read More »


    Armageddon, Apocalypse, and AIG

    Yesterday was the first day of the rest of Wall Street’s life. At the beginning of this year, there were five major broker-dealers. In March, the Bear Stearns Companies were acquired by JP Morgan Chase with a large assist from the Federal Reserve. Yesterday, Lehman Brothers filed for Chapter 11 bankruptcy. On Sunday, Merrill Lynch agreed to be acquired by the Bank of America. As | Read More »

Page: « First34567