User 142738

AIG Bailout Signals End to American Values

The author claims that "countries such as India and China are starting to embrace many of the values that have made the US great". This is patently false. If anything, China and India have a gigantic head start in government interventions, takeovers, forced mergers and bailouts. Look up the recent (failed) propping up of the rupee in India, or the China Mobile merger, for a couple of examples.

A 15.9% (perhaps higher since it's based off of LIBOR), two-year loan would be considered usury for a HELOC, but for AIG it's suddenly a bailout? No. It's a very high-interest loan, with about a trillion dollars worth of collateral backing it up.

Such an event would probably be considered a legitimate "stimulus" if it were to occur in any other country. Even if the loan were for 0%.