Wall Street Bailout

AIG gets another $38 Billion of taxpayer money

Hey, resort spas are expensive. It's the least the taxpayer can do for our brave billionaires.

Oct. 8 (Bloomberg) -- The Federal Reserve will provide as much as $37.8 billion in additional liquidity to American International Group Inc.'s regulated insurance units after rescuing the company with an $85 billion loan last month.

Wall Street Banks bailout will be managed by Wall Street Banks

This is beyond the fox guarding the chicken coop. This is simply a system designed for massive theft.

WASHINGTON -- The Treasury Department, seeking to jump-start its $700 billion rescue, is giving financial institutions two days to submit proposals to work as asset managers for the program.

Treasury's request for proposals makes clear that it wants large, established firms with significant assets to work for the government's program to buy mortgage-backed securities and other distressed assets.

To qualify, institutions must already manage at least $100 billion. Firms that want to manage whole loans, such as residential and commercial mortgages, must already oversee at least $25 billion in such loans or prove that they have capacity to handle that much.
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