[CitizensTruth] The Fed basically NATIONALIZES AIG...

[Mike Kirk]

As the author Michael Parenti was quoted:
"The USA has Socialism for the rich and Capitalism for the poor."

Quite disturbing.  The rest of the world knows what is going on.
http://dandelionsalad.wordpress.com/2008/09/08/jim-rogers-socialism-for-the-rich/

-Mike

--- On Wed, 9/17/08, Daniel Stafford <aqmstaffo at mailbag.com> wrote:
From: Daniel Stafford <aqmstaffo at mailbag.com>
Subject: [CitizensTruth] The Fed basically NATIONALIZES AIG...
To: "IL Progressive Dems" <PDI at illinoisprogressives.org>, "AB_Progressives" <AB_Progressives at yahoogroups.com>, "Progressive" <progressive at yahoogroups.com>, DiehardDems at yahoogroups.com, "Citizen's Truth" <CitizensTruth at six.pairlist.net>
Date: Wednesday, September 17, 2008, 11:24 AM

...guess big government is necessary after all, such as cleaning up 
after REAGAN-BUSH-CLINTON-BUSH-BUSH gutted regulations put in place 
after the LAST great (what was so damn great about it???) depression to 
keep the financial industry from pulling the same crap. They turned the 
Ferenghi loose, and now they have to mop up Ferenghi turds before 
everyone is neck deep in them. George W. probably has his teeth filed 
and ears rubbed by Jeff Gannon weekly...and now McLame wants to be the 
next Grand Nagus. DS

Federal Reserve to Loan AIG $85 Billion in Rescue
http://www.truthout.org/article/fed-loan-aig-85-billion-rescue
Edmund L. Andrews, Michael J. de la Merced and Mary Wiliams Walsh, The New York
Times: "Acting to avert a possible financial crisis worldwide, the Federal
Reserve reversed course on Tuesday and agreed to an $85 billion bailout that
would give the government an ownership stake in the troubled insurance giant
American International Group, according to people briefed on the negotiations.
The decision, only two weeks after the Treasury took over the quasigovernment
mortgage finance companies Fannie Mae and Freddie Mac, is the most radical
intervention in private business in the central bank's history."  		


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