After AIG, the banks, carmakers, Bush bails out the hedge funds with $200 Billion
Tania Sanghvi
Dec. 20, 2008

The Federal Reserve would offer low-cost three-year funding to any US company investing in securitised consumer loans under the Term Asset-backed Securities Loan Facility (TALF). Simply put, hedge funds will be allowed to borrow from the Federal Reserve for the first time under a landmark $200bn programme intended to support consumer credit.

The conversion of American free economy to that of a socialist country started with the bailout of AIG, the biggest insurer. Then a seven hundred billion was allocated to be handed over to US banks because they ran out of cash. Meanwhile the Federal Reserve decided to print unlimited amount of dollar to allow banks and financial instutuions to borrow as much they wanted. The total tag will soon exceed three trillion dollars to paid by future Americans with full interest in the next several yaers. The total budget deficit will soon exceed fifteen trillion. The projected deficit is above 4100 trillion if you account the failing medicare and social security safety nets.

Why should hedge funds not get there share? So Bush decided to hand over another 200 billion dollars to these low IQ investment fund managers. Soon Obama will join the bandwagon with $1 trillion more he will waste.

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