Archive for Finance
The Fed Writes Another Big Check!
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The Federal Reserve continues to write large checks in it’s attempt to stimulate the economy, buying $1 Trillion dollars in securities and bonds. This should boost enthusiasm, at least for a day or two. The push to get credit flowing again is on big time. Obviously, The Fed is willing to do whatever is required to stabilize the market and get it turned around. Stocks did turned northward on the heels of this announcement late today. Let’s hope this continues. Full story here.
AIG Names X, Y and Z
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Insurance giant AIG has finally named the many other financial institutions that received multibillion dollar payouts, monies owed by AIG to these institutions. The problem is, they used the Federal bailout/rescue money to pay up.
Lawmakers on Capitol Hill have been pressuring AIG for some time now, to be more forthcoming with what the bailout/rescue money was spent on. Nearly all of these large institutions in some way or another have benefited from government funds and John and Jane public have really become angry over this repeated practice.
You may read the entire story here N Y Times.
