What did Palin say?
On Monday, with the news of Merrill Lynch, Lehman Brothers, and AIG,
Sarah Palin spoke about how the government said "no more" to corporate
bailouts. I have criticized her for that comment with the past
bailouts and congressional discussion of bailing out the auto industry
for $50 billion. She spoke of how it is not the taxpayer's
responsibility to face the burdens of taxes to pay these corporations.
AYE! What happened? AIG BAILOUT!!!!!!!
Why? Losses across corporations across the globe would have suppressed
the economy through tightened credit. So how does that play out?
Corporations will have more trouble getting money, so it will restrict
its ability to grow, thus impacting jobs, prices, so on and so forth.
AIG will pay the US government high interest rates on its 80 Billion
dollar 2 year loan, while granting the US government 80% control over
the nation's largest insurance company.
