Liberty Just in Case

A Dialogue for the September 12th World

Archive for September 17th, 2008

Jim Dandy to the Rescue

Posted by redsatellite on September 17, 2008

Jim Dandy to the rescue!
Jim Dandy to the rescue!

Jim Dandy to the rescue!
Go, Jim Dandy! Go, Jim Dandy!

I was sitting on a mountain top.
30,000 feet to drop.
Tied me on a runaway horse
Uh huh, that’s right, of course.
Jim Dandy to the rescue!
Go, Jim Dandy! Go, Jim Dandy!

One day, I met a girl named Sue.
She was feeling kind of blue.
I’m Dandy, the kind of guy
Who can’t stand to see a little girl cry.
Jim Dandy to the rescue!
Go, Jim Dandy! Go, Jim Dandy!
Jim Dandy to the rescue!
Jim Dandy to the rescue!
Jim Dandy to the rescue!
Go, Jim Dandy! Go, Jim Dandy!

With apologies to Black Oak Arkansas and anyone name Jim, here comes the U.S government again. First it was Fannie Mae and Freddie Mac, now it’s insurance giant AIG. 85 billion? ….oh brother…the fun just never stops.

In an unprecedented move, the Federal Reserve Board is lending as much as $85 billion to rescue crumbling insurer American International Group, officials announced Tuesday evening.

The Fed authorized the Federal Reserve Bank of New York to lend AIG (
AIG, Fortune 500) the funds. In return, the federal government will receive a 79.9% stake in the company.

Officials decided they had to act lest the nation’s largest insurer file bankruptcy. Such a move would roil world markets since AIG (
AIG, Fortune 500) has $1.1 trillion in assets and 74 million clients in 130 countries.

I don’t care if they’ve insured ALL of Las Vegas and parts of Zimbabwe and Sri Lanka, the government has no business bailing out publicly traded companies. None.

Posted in Constitution, Economics | 3 Comments »