jcp052 Wrote:
Nov 16, 2012 8:07 PM
Can we talk about Republican wealth redistribution? This link shows that George W. Bush and his Republican administration gave AIG at least $150 billion. http://www.reuters.com/article/idUSTRE52624P20090308 Below is an excerpt from the article for those reading here. "The U.S. government first rode to AIG's rescue in September of 2008 with an $85 billion credit line after losses from toxic investments, many of which were mortgage related, and collateral demands from banks, left AIG staring down bankruptcy. Later in 2008, the rescue packaged was increased to $150 billion. The bailout was overhauled by the Republican administration, once again, to offer the insurer an additional $30 billion in equity."