Interesting read.
I was watching an interview last night with the head of AIG. I can't say for certain that it was intentional, but he kept making it sound like the Federal Reserve was part of the governmnet.
Quote:
RAY SUAREZ: Well, if Carl Icahn buys a position in a company, if Kirk Kerkorian buys a position in a company, they look for some say-so in that company, ditto Warren Buffett. How come when Uncle Sam buys an 80 percent stake in a massive company, he doesn't get a similar sort of say-so at the board level?
EDWARD LIDDY: Well, they will. The federal government is going to put in -- the Federal Reserve is going to put in, not on the board, but -- they can't own equities, per se, so they have to put them in a trust.
There will be trustees who oversee the performance of AIG, with respect to those -- the loan that they've put in. So the Federal Reserve will be very much involved in everything that we do at AIG.
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In reality the federal government borrowed money from the Federal Reserve to bail out AIG. The government doesn't own part of AIG, the Federal Reserve(a private corporation) owns part of AIG.
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