Quote:
Originally Posted by Frosty
Yeah, it's sickening but in a way it's their business. The government LOANED AIG this $$. They weren't given anything. It's no different than if you take a personal loan from a bank and blow it on cocaine. I'm not condoning their actions, it's ridiculous but the $$ AIG received certainly isn't free $$.
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It's not their business anymore. The government didn't just loan AIG money, they took ownership of them. The Federal Reserve now owns 80% of AIG. So effectively, the FED made a loan to itself to bailout their own insurance company.