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AIG is Government Owned- Proof

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posted on Apr, 7 2009 @ 11:04 PM
link   
en.wikipedia.org...


Other corporations owned by the federal government include the National Railroad Passenger Corporation (which does business as Amtrak), the Tennessee Valley Authority, the Corporation for Public Broadcasting, Fannie Mae, Freddie Mac, American International Group (AIG), and the United States Postal Service. Many states have government owned businesses for operations as well (e.g. North Dakota Mill and Elevator or South Dakota Public Broadcasting). Generally speaking, a statute passed by a legislature specifically sets up a government owned company in order to undertake a specific public purpose with public funds or public property

Look under USA. This also has information on more government corporations .
Sorry if this has been posted but I could not find anything on it here.


[edit on 7-4-2009 by saralee]

[edit on 7-4-2009 by saralee]

 


Removed All Caps from title

The Use of ALL CAPs

[edit on 8/4/09 by masqua]




posted on Apr, 7 2009 @ 11:57 PM
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reply to post by saralee
 


They may be now, but I don't think they were before Sept 2008.

en.wikipedia.org...

American International Group, Inc. (AIG) (NYSE: AIG) is a major American insurance corporation based at the American International Building in New York City. The British headquarters are located on Fenchurch Street in London, continental Europe operations are based in La Défense, Paris, and its Asian HQ is in Hong Kong. According to the 2008 Forbes Global 2000 list, AIG was the 18th-largest public company in the world. It was on the Dow Jones Industrial Average from April 8, 2004 to September 22, 2008.

It suffered from a liquidity crisis after its credit ratings were downgraded below "AA" levels, and the Federal Reserve Bank on September 16, 2008, created an $85 billion credit facility to enable the company to meet collateral and other cash obligations, at the cost to AIG of the issuance of a stock warrant to the Federal Reserve Bank for 79.9% of the equity of AIG. In November 2008 the U.S. government revised its loan package to the company, increasing the total amount to $152 billion. AIG is attempting to sell assets to repay the loans. So far the U.S. government has given the company over $170 billion.



posted on Apr, 8 2009 @ 06:16 AM
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reply to post by saralee
 


That's a direct result of the bailouts. The government basically bought an 80% stake in the company.

Of course, that just adds to the idiocy of the whole situation. We had this whole dog and pony show over the bonuses, but the fact is, the government should have known about it. Hell, they owned AIG for five or six months prior.



posted on Apr, 8 2009 @ 12:19 PM
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reply to post by saralee
 


Most of the companies you mention the US currently holds warrants which would essentially make them majority owners of the companies.. This is particularly due to Sept. 08's TARP relief fund.

A true "US Government Corporation" is a GSE, Government Sponsored Enterprise, which essentially has the backing of the State. Freddie, Fannie and Gennie where and are GSE's. The companies you listed above are partially owned through senior and common stock options exercised by the Government, or in some cases, with the possibility to be exercised, but have not currently been. (such as Amtrak)



posted on Apr, 9 2009 @ 01:28 AM
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AIG is not listed under the bailout section of the link information, however I am going to see when Aig was first involved more research for me.
Thanks for the imput.



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