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News Link • Federal Reserve

Beware of Phony AIG Profits

• Economic Policy Journal
In an email to me, Janet writes: terms have already been modified in AIG’s favor and support increased by around $100 billion [for a total of $180 billion]. We were told this was a short-term intervention, but it has turned into a long-term “investment,” that is life support of a company whose shares are in reality worth zero (despite the 20/1 reverse split). AIG’s value is to its trading partners engaging in financial necrophilia. Here's a video of Janet discussing AIG with First Business.

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