History of Gov’t Bailouts, Updated
The federal government announced this morning that it will pump another $40 billion into the still-hemorrhaging AIG by purchasing newly issued preferred shares through the Troubled Asset Relief Program. AIG also announced this morning that it lost $24.47 billion last quarter. The government also revised the terms of its initial loan, and the taxpayer tab for the revised bailout now stands at $150 billion. We have updated our bailout chart accordingly.
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