Four years later

[gotsnowgotslush]

18 billion dollar sale of AIG shares ?

http://www.washingtonpost.com/busin...53-218509a954e1_story.html?wprss=rss_business

If the sale goes as planned, the government could shrink its stake in the firm to less than 20 percent, ceasing to be AIG’s majority shareholder
for the first time in four years. After rescuing AIG from the brink of collapse and committing as much as $182 billion in a much-despised bailout,
taxpayers are on course to turn a profit on the bailout by 2013.

Despite the lessons of the crash, AIG still deals in complex derivatives, which fueled its meltdown, and has no single banking regulator watching
over its non-insurance financial businesses.

George W. Bush started the bailout- President Obama forced conditions on the....

September 24, 2008

"I'm a strong believer in free enterprise, so my natural instinct is to oppose government intervention. But these are not normal circumstances."

"The market is not functioning properly. There has been a widespread loss of confidence."

"Without immediate action by Congress, America can slip into a major panic."

"If Congress fails to approve the rescue plan, the nation could face a "long and painful recession."

"The plan is big enough to solve a serious problem," Bush said.

 

[islandman]

18 billion dollar sale of AIG shares ?

http://www.washingtonpost.com/busin...53-218509a954e1_story.html?wprss=rss_business

If the sale goes as planned, the government could shrink its stake in the firm to less than 20 percent, ceasing to be AIG’s majority shareholder
for the first time in four years. After rescuing AIG from the brink of collapse and committing as much as $182 billion in a much-despised bailout,
taxpayers are on course to turn a profit on the bailout by 2013.

Despite the lessons of the crash, AIG still deals in complex derivatives, which fueled its meltdown, and has no single banking regulator watching
over its non-insurance financial businesses.

George W. Bush started the bailout- President Obama forced conditions on the....

September 24, 2008

"I'm a strong believer in free enterprise, so my natural instinct is to oppose government intervention. But these are not normal circumstances."

"The market is not functioning properly. There has been a widespread loss of confidence."

"Without immediate action by Congress, America can slip into a major panic."

"If Congress fails to approve the rescue plan, the nation could face a "long and painful recession."

"The plan is big enough to solve a serious problem," Bush said.

The bit in bold is all on President Obama's head.

And that's not to say that additional oversight is needed. It just means that he's done nothing to shift the risk off of the nation's balance sheet and into the companies themselves.