Thursday, December 4, 2008

Paulson shoots another arrow into the heart of the Economy
By: meltdown101
Tags: ECONOMY
The announcement today of a deal reached between the U.S. Treasury and the moribund insurance giant, A.I.G. provides a very lucid insight in to the nefarious and destructive world of the Troubled Asset Relief Program, otherwise known as T.A.R.P..Not only have A.I.G. received $152 billion to date and subsequently reported a third quarter loss of $25 billion, now they are to be cleared of their obligation on $53 billion worth of toxic credit default swaps. U.S. taxpayers are now on the hook for $205 billion..

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