Well, the government has announced this evening that they will in fact bail out AIG with an $85 bailout package that would give the Federal Government an ownership stake in the insurance giant:
Acting to avert a possible financial crisis worldwide, the Federal Reserve reversed course on Tuesday and agreed to an $85 billion bailout that would give the government an ownership stake in the troubled insurance giant American International Group, according to people briefed on the negotiations.
The decision, only two weeks after the Treasury took over the quasigovernment mortgage finance companies Fannie Mae and Freddie Mac, is the most radical intervention in private business in the central bank’s history.
So, all the people who think healthcare for all and other government spending is socialism – what about this? Now that the government has saved Freddie Mac, Fannie Mae, and now AIG – do you think we could get a few bucks to give healthcare to all citizens? Probably not…it doesn’t really benefit any shareholders or low-income people.