The free-wheeling party animals are getting more out of our wallets.
The government on Monday unveiled a revamped rescue package to insurance giant American International Group and will provide the troubled company with another $30 billion in taxpayer money on an “as needed” basis.
The new package comes as the company has burned through cash and has been unable to find buyers for pieces of its company that it hoped to sell to repay the government on its existing aid package, which totals some $150 billion.
In an interview on NBC’s “Today” show Monday morning, AIG Chairman and Chief Executive Edward Liddy said: “We’re going to be able to pay back the Federal Reserve. The new $30 billion is a standby line. It’s not necessarily something that we think we’ll have to draw on right away.”
But Liddy backed off earlier statements about paying back taxpayers in full within two years.
Who the hell does he think fills the coffers of the Federal Reserve? The 21st Century Tea Parties have started and I expect they will continue until the government gets a fucking clue and stops throwing our money at corporate failures.