Fed grants AIG $37.8 billion loan

IHT ^ | Oct 8, 08

[cdchik123]

WASHINGTON: The Federal Reserve has agreed to provide insurance giant American International Group with a loan of up to $37.8 billion, on top of one made to the troubled company last month.

[pissant]

Good grief, let the bastards collapse.

[Mojave]

Time for another party!

[politicket]

Wait til Citigroup goes down - then it will all be over (My opinion - no inside information whatsoever).

[library user]

You know that AIG employees are happy with this news and heading out to $30-per-plate restaurants to celebrate right now.

[mortal19440]

$30-per-plate

That will be the appetizer cost!!

[DemonDeac]

Do they think money grows on trees in DC? Everybody keeps tacking on more. And it isn’t like we didn’t have a MONSTER deficit to begin with.

[grandpa jones]

very few AIG employees, including myself, are very happy right now.

[dirtboy]

What makes the Fed and all the central banks think that smart money people are buying any of this nonsense of magic money? Where did this $38 billion come from? From taxpayers, tied to actually PRODUCING something? It’s all vapor.

[Notwithstanding]

Is Barney Franks’s Former Gay “Husband” and Fannie Mae Executive Now a Gay Porn Actor? Web investigation indicates he likely is:

Barney Frank’s former so-called “spouse” was a man named Herb Moses.
http://www.washingtonpost.com/wp-srv/politics/special/clinton/stories/frank121898.htm

At the time, Herb Moses was a director for housing initiatives at Fannie Mae.
http://findarticles.com/p/articles/mi_qn4182/is_/ai_n10104224.

Herb Moses helped develop many of Fannie Mae’s affordable housing and home improvement lending programs.
http://www.familysecuritymatters.org/publications/id.1277/pub_detail.asp

Herb Moses was reportedly a mortgage expert who left Fannie Mae in 1998 to start a pottery business.
http://www.businessandmedia.org/articles/2008/20080924145932.aspx

But not before his lover Barney Frank lobbied hard to widen Fannie Mae’s ability to give mortgages to high-risk borrowers.
http://www.businessweek.com/archives/1994/b33985.arc.htm

A “Herbert M. Moses” from Washington D.C. and employed by Fannie Mae gave $1500 to Democrats in the 1990s.
http://www.opensecrets.org/indivs/search.php?name=moses%2C+herb&state=&zip=&employ=&cand=&all=Y&sort=N&capcode=jb97b&submit=Submit

A “Herbert M. Moses” in D.C. is listed at whitepages.com
http://www.whitepages.com/search/FindPerson?extra_listing=mixed&form_mode=opt_b&post_back=1&firstname_begins_with=1&firstname=herbert&name=moses&street=&city_zip=&state_id=DC&localtime=survey.

At this whitepages page, you will find a “background records” link that allows you to buy a detailed report on that name from a list of several links.
http://preview.ussearch.com/preview/ala/newsearch?&searchState=DC&searchFName=herbert&searchLName=moses&adID=6194003754&adsource=9&TID=1&cid=background&searchtab=background

Several of those links will give a teaser list of cities where the named person presumedly has lived or lives.
http://www.ussearch.com/consumer/ala/category.do?cid=5105&did=0&adID=10002101&&searchtab=people&&searchFName=Herbert&searchMName=M&searchLName=Moses&searchCity=Washington&searchState=DC&searchApproxAge=&searchStateJurisdiction=DC&searchGender=&searchZip=20009-1106&vid=cfc&searchAgentNotes=Name_ViewAll&searchPerson=001786905501

Fact check: you can type in the name of someone you know and see that the list of teaser cities is an actual list of the actual cities where the named person has lived.

For “Herbert M. Moses” of D.C., Huntington Beach, CA, is one of 6 cities listed as a current or former residence.
http://www.ussearch.com/consumer/ala/category.do?cid=5105&did=0&adID=10002101&&searchtab=people&&searchFName=Herbert&searchMName=M&searchLName=Moses&searchCity=Washington&searchState=DC&searchApproxAge=&searchStateJurisdiction=DC&searchGender=&searchZip=20009-1106&vid=cfc&searchAgentNotes=Name_ViewAll&searchPerson=001786905501

Newport Beach is 6 miles from Huntington Beach
http://maps.google.com/maps?f=d&saddr=newport+beach,+ca&daddr=Huntington+Beach,+CA&hl=en&geocode=&mra=ls&sll=33.829785,-117.27787&sspn=1.204664,2.460938&ie=UTF8&z=13

A google search of “Herbert Moses”
http://www.google.com/search?hl=en&q=%22Herbert+Moses%22

brings you to a photo and contact page of “Herb Moses” working at Wells Fargo in the mortgage department in Newport Beach
https://www.wfhm.com/wfhm/herbert-moses/index.page

and Herb Moses of Wells Fargo mortgage is also listed at this website
http://workmanrealestategroup.com/lenders.html

A brand new FReeper, Stevie1958, has posted an interesting note at FR claiming that this same pictured Herb Moses has made porn films with his current long-term gay sex partner.
http://www.freerepublic.com/focus/news/2094109/posts?page=85#85

A google search using key terms revealed by this new FReeper, Stevie1958, does lead to webpages with photos of the same pictured man (identified above as Herb Moses) engaged in explicit homosexual sex acts.
http://www.google.com/search?hl=en&q=%22jessie+foxx%22+%22real+couples%22

So, it seems that Barney Frank’s former homosexual “spouse” who was a Fannie Mae executive, is now a third rate loan salesman and gay pron star. It makes Frank’s old housemate, Steve Gobie, who Frank met when he hired him as a male escort, and who ran a gay “escort” service from Frank’s D.C. home, seem pretty tame in comparison (Representative Barney Frank received a formal reprimand from the House for his relationship with a male prostitute - Gobie).

And one more thing: Is Stevie1958 really Stephen L. Gobie?

http://www.freerepublic.com/focus/news/2094109/posts?page=87#87

[nclaurel]

Why isn’t this coming out of the $700 billion—sorry make that $812 billion with the pork -— bail out???

[anniegetyourgun]

I’m sure you are sick to your stomach. Hang in there.

[oblomov]

$30/plate? That’s nothing... how about dinner at Per Se for $400/person?

[HappyinAZ]

It’s an interest bearing loan...good grief people....get your underwear unbunched.

If THEY can’t get a loan..(since the banks are frozen on loans of this size)..the domino’s begin to fall....and we WILL witness a Great Depression. It’s called banking...and the country requires it to keep going.

The Fed is just doing it’s job..flooding he markets with cash....it’s how real depressions are avoided....and you’re not out a stinking dime....so why the hostility?

[Spottys Spurs]

Oh please! This is simply a securities lending program!

“Under the new program, the Federal Reserve Bank of New York will borrow up to $37.8 billion in investment-grade, fixed income securities from AIG in return for cash collateral. These securities were previously lent by AIG’s insurance company subsidiaries to third parties.”

Most major firms do this all the time and commercial banks are the counterparties. It’s no more risky than me lending shares to Bank of New York.

[Toddsterpatriot]

And it isn’t like we didn’t have a MONSTER deficit to begin with.

The Federal Reserve has agreed to provide insurance giant American International Group with a loan of up to $37.8 billion,

Get it?

[Toddsterpatriot]

Where did this $38 billion come from?

The Federal Reserve.

[Notary Sojac]

The Fed is just doing its job..flooding the markets with cash.

Apparently the recipients of this tsunami of cash are all buying T-bills with it, or putting it in their mattresses, or socking it away in a mayonnaise jar in the garage.

Instead of, you know, lending it out.

[smokingfrog]

WOW! I can’t believe this. That’s a lot of spa treatments.