I guess the "let Lehman fail" strategy did not work out so well:Thus proving that the Great Military Victory on the Eastern Front is Military and Victorious!!!!The Federal Reserve Board on Tuesday, with the full support of the Treasury Department, authorized the Federal Reserve Bank of New York to lend up to $85 billion to the American International Group (AIG) under Section 13(3) of the Federal Reserve Act. The secured loan has terms and conditions designed to protect the interests of the U.S. government and taxpayers.LIBOR + 8.5%--now thats lending freely at a penalty rate! They've given AIG a credit card!
The AIG facility has a 24-month term. Interest will accrue on the outstanding balance at a rate of three-month Libor plus 850 basis points. AIG will be permitted to draw up to $85 billion under the facility.
[ cf W00T!! (Lend Freely at a Penalty Rate Edition) ]
Clearly only with the Strong Military Presence of a Great War President can Libor + 8.5% be a way to help firms like AIG turn into the very pert nippled firm and subtle virgin blonde blue eyed cheerleader with daddy's credit car in a sports car!!!
All HAIL the total Military Victory for our nation @WAR for clearly no one but great leader could be that great and glorious!!!! and any defeatist stab our troops in the back like that angry old man who would so much as suspect the Moral Purity of AIG by doubting that they were doing anything but what the War President demands of all Military Forces engaged on the Eastern Front is to show that angry old men are merely stabbing our troops in the back by not Supporting The President To Support The Troops!!!!
All Hail that GOD has given us RoboBushCheneyParis!!!
and Fashionably Fashionable!!!
And they understand the War Fed as a military branch of the unitary executive!!!