U.S. Extends $38 Billion In New Loans to AIG (on TOP OF original $85 Billion)

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Don't know if this was posted earlier---it's from Thur, 10/8/08.

Congress and Obama, look what Treasury has done the day after you were steaming about AIG's use of bailout $ for its luxury executive junket. :puke: :grr:

This needs to be investigated, big time. Haul these assholes up to Congress, including that top a-hole, Paulson, whose hundred$ of million$ in diamond parachute money from Goldman Sachs is tied to AIG. :grr: :mad:

http://www.washingtonpost.com/wp-dyn/content/article/2008/10/08/AR2008100803539.html

U.S. Extends $38 Billion In New Loans to AIG

By Peter Whoriskey
Washington Post Staff Writer
Thursday, October 9, 2008; Page D01

Turns out the $85 billion bailout loan for AIG wasn't enough.

The company's survival apparently requires another $38 billion in cash, and yesterday the Federal Reserve authorized loaning that much more to the struggling insurance giant. snip

This cash infusion comes a day after angry lawmakers criticized AIG for its spending habits during a House hearing.

Among other things, AIG is paying one of the executives who led the company into some of its most costly mistakes $1 million a month as a consulting fee to help it unwind his bad investments. And just a week after the first bailout, the company treated some of its executives and some high-performing life insurance agents to a weeklong stay at the pricey St. Regis Resort in Monarch Beach, Calif. Total cost for the spree: $440,000. snip

[jimshoes]

1. Is this normal when the bookie can't pay off

the bets? Get a loan from Uncle Sam?

Edit: I guess it depends on who made the bet. (BFEE perhaps)

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2. Paulson et al installed to get what remains of Treasury's loot before

BushCo falls.

[htuttle]

3. The market cap of AIG is less than $10 billion dollars

The government could have bought every damned share of AIG for a fraction of the money they are shoveling into the pockets of their cronies.

This is blatant.

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4. "blatant" but no one in gov seems to notice. HEY CONGRESS! Take a look

[gratuitous]

5. Time for another retreat, methinks

Let's see, where will AIG executives go this time? I hear Cabo is nice, but it's gotten pretty touristy. Is the typhoon season over? Any Asian kiddie sex tours that they can go on? After all, AIG has to raise its public image somehow.