Wednesday, October 8, 2008

In Amerika Today

An estimated six million of us will default on our mortgages this year and next.

We're being evicted from our homes. Tent cities are popping up all over the place.

Flush with a humongous amount of fresh cash our government is transferring from us to them, against our will, fuckers who created this mess are living large:

NEW YORK (Reuters) - American International Group Inc could get nearly $38 billion in fresh cash under a program announced by the Federal Reserve on Wednesday, as the insurer tried to fend off criticism of a lavish event held days after getting an initial $85 billion government loan.
Under the new plan, the Federal Reserve Bank of New York will take up to $37.8 billion in investment-grade, fixed-income securities from AIG in exchange for cash.

The securities were previously lent by AIG's insurance company subsidiaries to third parties. The Fed said the new program will allow the company to replenish liquidity used in settling transactions with counterparties.

AIG had drawn fire in Washington on Tuesday for spending $200,000 on hotel rooms and $23,000 on spa services at an event, just days after it got the emergency loan from the government to avoid bankruptcy in the middle of the worst credit crisis since the Great Depression.

As lawmakers grilled former top executives at a hearing, Rep. Elijah Cummings, a Maryland Democrat, said: "They were getting facials, manicures and massages, while the American people were footing the bill." (Click here to continue reading)


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