Surrounded By Reality

Madison, WI has been described as "43 square miles of land surrounded by reality". Actually, I think it's 77...... Being a Madison native I liked this title. Agree or disagree, the important thing is to get involved and learn what's going on and how it affects you..

Wednesday, October 08, 2008

The Fed's Penalty For AIG's $440,000 Spa Spree

I just saw this on Yahoo News...

FEDS SLASH INTEREST RATES, BUT STOCKS LOSE AGAIN

EXCERPT FROM STORY- "Underlining the seriousness of the situation, the Federal Reserve on Wednesday also agreed to provide faltering insurance giant American International Group Inc. with another loan, $37.8 billion on top of the $85 billion it proffered the troubled company last month."

These guys are paying one of their former employees a $1 MILLION PER MONTH CONSULTING FEE and a bunch of their executives went on a $440,000 spa spree at the St. Regis Resort days after getting the $85 billion. So you penalize AIG by giving them another $37 BILLION ! Getting that extra $37 BILLION is pretty stressful- they better take a week off and go to Disneyland-Paris.....

Any wonder the market investors and taxpayers have no confidence? Where are our representatives in Congress and the Senate?

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