Liberalism: Do You Agree We've Had Enough of It? Message Board

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Politics : Liberalism: Do You Agree We've Had Enough of It?

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To: Kenneth E. Phillipps who wrote (47271)	9/17/2008 10:37:46 AM
From: tonto	2 Recommendations Read Replies (2) of 224704

I have not read the details of the AIG bailout. You posted earlier that we lent them the money, and now you are saying that we bought 80% of AIG? That does not sound realistic. Anyone have a link? Never mind the link request. I checked it out. I see that they have a warrants right to purchase up to 80%. Your post is not true. The interest rate is good for us if they can pay their loan,,, Details of the deal AIG responded to the Fed bailout with a statement describing the arrangement as the "best alternative" for the company AIG is expected to sell assets and use those proceeds to repay the loan, which is collateralized by all the assets of AIG and its main subsidiaries. AIG will pay a steep interest rate on the loan -- the three-month London interbank offered rate (LIBOR) plus 8.5 percentage points. Based on Tuesday's LIBOR quote of 2.81%, that would be an annual interest rate of 11.31%. Jake, is it Socialism for the US Government to buy 80% of AIG?

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