Fed to bail out AIG – to the tune of $85 Billion

September 17, 2008

The Democrats must be dancing in the streets.  With the government taking over so much of the American economy we’re quickly becoming a socialist country.

In an extraordinary turn, the Federal Reserve agreed Tuesday night to take a nearly 80 percent stake in the troubled giant insurance company, the American International Group, in exchange for an $85 billion loan. Read full story.