Tuesday, November 11, 2008

Bailout Blues!

Revised AIG Terms Begin Treasury Transfusions to 'Zombie' Firms

The revised bailout of American International Group Inc. marks a new phase in the government's effort to shore up financial markets: It's the first time cash from the rescue fund Congress created last month has been committed to a failing company. Taxpayers are ``keeping the zombie alive,'' said Robert Eisenbeis, former director of research at the Atlanta Fed. ``We keep getting deeper and deeper into these holes.'' and ``Are you going to do General Motors and Ford, and, if you do those, are going to go on and do retailers?'' said William Isaac, chairman of the Secura Group LLC. `` Where does it stop? That is a very difficult decision we are going to face.''

Posted by alan @ 09:14 PM (1515 views)
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2 thoughts on “Bailout Blues!

  • dohousescrashinthewoods says:

    Clear reference to Japan here – sounds to me like he’s suggesting the US is going that way.

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  • AIG caught throwing more fat cat parties by ABC.

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