To: Curtis Lowe
From: Some Guy
Subject: Ben – Don’t quit your day job!
“Yesterday Ben Bernanke, at one of those seemingly daily Congressional hearings (aka witch-hunts) on the financial crises, said re: monies given AIG “We are confident we will be repaid..the taxpayers will make money“.
So far the Fed has advanced $182 billion, owns 80% of AIG and may advance another $30 billion more this year, so let’s say $210 billion of our hard earned dough goes to AIG; with a 6% yield means in 5 years AIG will pay us taxpayers $280 billion. So in 2014 the Fed gets $280 billion from what, selling AIG ????
AIG’s current market value is $4 billion. Is Ben predicting an average annual gain in market value of 133% per year? Wow! Call your broker NOW”
Advertisement
March 26, 2009 at 1:44 am |
Interesting stuff. I think that down the road when economic historians look at this period they’ll say this was an era when an economic crisis was made far worse by leaders who ignored basic, sound economic principles.