Results 1 to 1 of 1
Thread: AIG: The Looting Continues
Thread Information
Users Browsing this Thread
There are currently 1 users browsing this thread. (0 members and 1 guests)
-
07-17-2009, 07:51 PM #1
- Join Date
- May 2007
- Location
- South West Florida (Behind friendly lines but still in Occupied Territory)
- Posts
- 117,696
AIG: The Looting Continues
AIG: The Looting Continues
No wonder The Fed was threatening Congress when asked about audits - it might expose the underlying realities of something like this:
European banks including Societe Generale SA and BNP Paribas SA hold almost $200 billion in guarantees sold by New York-based AIG allowing the lenders to reduce the capital required for loss reserves. The firms may keep the contracts to hedge against declining assets rather than canceling them as AIG said it expects the banks to do, according to David Havens, managing director at investment bank Hexagon Securities LLC.
$200 billion dollars for foreign banks that we, the taxpayer, have now backstopped through The Fed with zero oversight or approval by Congress?
These aren't even American businesses!
The average weighted length of the European swaps protecting residential loans is more than 25 years, while the span tied to corporate loans is about 6 years, AIG said in a regulatory filing. Contracts covering corporate loans in the Netherlands extend almost 45 years, and the swaps on mortgages in Denmark, France and Germany mature in more than 30 years.
So now we, the American Taxpayer, are backstopping mortgages in Netherlands, Denmark, France and Germany?
Remember this?
Now you know why, and what The Fed and Treasury have done - in black and white.
*URGENT* BAILOUT BILL SELLS US TO CHINA (UPDATED)
http://www.youtube.com/watch?v=ONUSxiGN ... r_embedded
You have been robbed America, and now they intend to steal $200 billion more - to bail out not Americans but foreigners.
Tell me again why we're doing this, and why people aren't in prison?
http://market-ticker.org/archives/1230- ... inues.htmlJoin our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
Listen to Frosty Wooldridge on Rense May 14, 2024 talking Third...
05-16-2024, 12:31 PM in Americans Killed By illegal immigrants / illegals