Wednesday, September 17, 2008

What next, "The Internationale" replaces "The Star Spangled Banner"?

To each mega-corporation according to its needs; from each taxpayer according to their bracket (unless you're a mega-corporation)...

Da, comrade, we are all Marxists now.

Calculated Risk: Fed: AIG Deal Done
The interests of taxpayers are protected by key terms of the loan. The loan is collateralized by all the assets of AIG, and of its primary non-regulated subsidiaries. These assets include the stock of substantially all of the regulated subsidiaries. The loan is expected to be repaid from the proceeds of the sale of the firm’s assets. The U.S. government will receive a 79.9 percent equity interest in AIG and has the right to veto the payment of dividends to common and preferred shareholders.
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