GOPwinger Lies/Distortions/Omissions/Perversions of Truth Message Board

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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth

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To: Lizzie Tudor who wrote (138310)	9/23/2008 4:37:31 PM
From: geode00	1 Recommendation Read Replies (2) of 173976

Hank Greenberg formerly of AIG is saying that he can get private loans for $20 billion to save AIG and that a government bailout is not necessary. He doesn't understand why AIG was saying it needed a $40 bridge loan one day and that morphed into a $85 billion 80% nationalization the next. "Greenberg has claimed that AIG might have avoided the Fed takeover if it had taken out a bridge loan, sold assets and raised fresh capital. "How can it be the right move if shareholders lose 80 per cent of their equity?" he asked." business-standard.com Greenberg has the most to lose since he is the largest shareholder and should know the most as well since this was his company. What if this entire $85 billion was just a mistake by Paulson hyperventilating with the idiot AIG management? What if this is a poor use of what now amounts to $1.6 Trillion (give or take a few hundred billion) because Paulson is in a panic stoked by his investment banker buds on Wall Street fearful of losing their Hampton homes and Gulfstreams? Something smells very badly.

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