-Federal Reserve acquires 80% share of AIG

Posted: September 18, 2008 in 2008, Articles
Tags: ,

The privately-owned Federal Reserve, who control the nations money supply and are virtually untouchable by the elected government, today acquired 80% of the worlds largest insurance company.

MSNBC:

The Federal Reserve is giving a two-year, $85 billion loan to AIG in exchange for a nearly 80 percent stake in the company after it lost billions in the risky business of insuring against bond defaults. Wall Street had feared that the conglomerate, which has its tentacles in various financial services industries around the world, would follow the investment bank Lehman Brothers Holdings Inc. into bankruptcy. The ramifications of the world’s largest insurer going under likely would have far surpassed the demise of Lehman.

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