From: Travis
Subject: Cagle Newsletter: AIG Horrors
Date: Tuesday, March 10, 2009,

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We have a great collection of cartoons called "AIG Bailout!"
LOOK!<http://rs6.net/tn.jsp?et=1102498184957&e=001v1tz-c_amitsa0-nZsnVgP5k0_6jm4iE1mef_H46GfRpcK7kYx4_xLnpmwUu5XmL7Y7BOChRgS5CJtxztGnRFEQx4cMiZQ27APbd8Pb_Top5e80kqokl_dbMk_vnl2FF>
*AIG Returns To The Federal Feeding
Trough*<http://rs6.net/tn.jsp?et=1102498184957&e=001v1tz-c_amitCxGEoU5qHIIWyzOCJAfH0fs9Pf-YLcXzW6IHZhps_wgWNO7VLKDSlX5jGb9oUsTNqaor2li7pUa0uHgekTSApnZC98ZDtB_5KORG1i9eKBusuzOB4BiX2mb1euiwr3EX97td-Q5UY8caAR881FUhp4qUjVFlvpnFKXR8cPPSOOAbDbwjEQUAeerZVA7WDzjaYZFYW86d657jNZNEpvsVxguiNDXr_RsZiYwqwG80E7Q==>
by Robert 
Scheer<http://rs6.net/tn.jsp?et=1102498184957&e=001v1tz-c_amisj2iaa8A-XH-sOPQIOVnBU5UWDLZZS10aTMtmTdugDuHxDd7HcD05OfQWRBjsWgBebDeyTUG8fUV_X8MChfcN4zHAxVZPpN5agmeofJGpuX9JicEGTl3FlaExUi7_bnCX0Z3TPPilwEmT8yXMb7X-w>-
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This is crazy! Forget the bleating of Rush Limbaugh, the problem is not with
the quite reasonable and, if anything, underfunded stimulus package, which
in any case will be debated long and hard in Congress. What is not being
debated is the far more expensive Wall Street bailout that is being
conducted, as in the case of the latest AIG rescue, in secret, hurried
deal-making involving primarily the unelected secretary of the treasury and
the chairman of the Federal Reserve.
Six months ago, we taxpayers began bailing out AIG with more than $140
billion, and then it went and lost $61.7 billion in the fourth quarter, more
than any other company in history. So Timothy Geithner and Ben Bernanke
huddled late into the night last weekend and decided to reward AIG for its
startling failure with $30 billion more of our dollars. Plus, they sweetened
the deal by letting the company off the hook for interest they were
obligated to pay on the money we previously gave them.
AIG doesn't have to pay the 10 percent interest due on the preferred stock
the U.S. government got for the earlier bailout funds because it will now be
paid out only at AIG's discretion, which means never. The preferred stock,
which got watered down, carried a cumulative interest, meaning we taxpayers
would recapture some money if the company ever got going again - but that
interest obligation was waived in the new deal.
We are already into AIG for a total of $170 billion - an amount that dwarfs
the... *READ 
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*
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