Oddly enough before I watched that video I reread a thread i started last year. I did some research to see exactly why the bailout happened. I think some of you here would enjoy reading what I turned up. www.abovetopsecret.com...
Heres a lil quote from it.. you will need to read the whole thing tho: "The largest insurance company in the world, AIG, was about to go bankrupt
and needed money so that they did not bring down the world economy with them.
“without the government's actions, the collapse of AIG could have caused every major bank in the world to fail.”
Source: www.kitco.com... Thanks to: www.abovetopsecret.com...
They received $123,000,000,000 initially... but soon after it was upped to $150,000,000,000
The reason AIG was going bankrupt and needed the money was because their credit score was lowered which forced them to carry billions of more dollars
in their account than they had before. They didn’t have the money so they asked the government for it otherwise they would gone bankrupt
Now how did their credit score get lowered and why?
The three main rating agencies... Standard & Poor’s, Moody’s, and Fitch, decided “AIG failed to convince them of its financial wellbeing.”