Thursday, November 13, 2008

COME ONE COME ALL FOR THE FREE FED HANDOUT

http://money.cnn.com/2008/11/13/news/economy/fed_balance_sheet/index.htm?postversion=2008111317

INsanity
The Fed also reported Thursday that troubled insurer American International Group (AIG, Fortune 500) borrowed even more from the government than it had before. The Fed's numbers, however, do not reflect the terms of AIG's new bailout, which will not go into effect for more than a week.
AIG now owes the government $83.6 billion, up from $81.2 billion as of last week. That includes roughly $63 billion from the $85 billion bridge loan and $20.2 billion from the Fed's $37.8 billion lending facility, according to AIG.
In the coming weeks, the government will restructure the insurer's bailout deal to include a $40 billion loan from the Treasury, a $60 billion loan from the Fed, and two new funding facilities of $23.5 billion and $30 billion. That increases the total amount available to AIG to $152.5 billion from $122.8 billion.

2 comments:

Anonymous said...

no surpise there. amazing isnt it? there getting good experience when they have to bail out the avg person with 53 trillion of unfunded liabilitys over the next couple of decades!

Anonymous said...

ssk, if we have had our extreme vix....slowly we may heal....all about confidence also at extreme lows...it isnt easy to predict THE LOW of anything, so I am looking for a trend change.....