From Scott Ott at the dcexaminer:
The Treasury Department announced today that the bail out [sic] of AIG Insurance, which began in September under the Bush administration, is working better than expected.
Encouraged by the company’s loss of nearly $62 billion in the 4th quarter of 2008, the Obama administration injected another $30 billion into AIG this week.
“The government stepped in last year with $150 billion because AIG was too big to fail,” said Treasury Secretary Timothy Geithner. “The stock was trading in early September at more than $20 per share.
Today it’s worth less than 50 cents a share. If we keep pumping billions of tax dollars into it, I’d say we’ll soon reach the point where AIG won’t be too big to fail, and then we can stop giving them money.”
Great posts! Maybe you can check out some of mine.
I would like to float a proposal for an economic stimulus plan past you for your consideration. The basics of the idea are in an article at http://tinyurl.com/dknr3c . Please review this article and let me know what you think. This will be the basis for a more in depth paper on the concept.
Thank you for assisting with this project.
Robert K. Minniti, CPA, CFE, Cr.FA, CFF, MBA