Friday, January 16, 2009

Treasury Announces B of A Bailout, What Next the Bailout of the Plane that Landed in the Hudson River?

Quite possible.

Bank of America will on Friday receive $20bn in fresh capital from the US government and a guarantee on most of a further $118bn of potential losses on toxic assets.

The package is on top of the $25bn BoA received from Tarp funds last October.

And while you weren't looking, GW insured the entire US airline industry.

According to the PEU Report, the US Airways Flight 1549, that lost power to both engines after striking a flock of geese,and the glided into the Hudson River, maybe be bailed out by the government:

President George W. Bush put the taxpayer at risk with his December 23 memo to Mary Peters. He ordered the Transportation Department to insure U.S. flagged air carriers. Did Uncle Sam insure US Airways?
Not out of the realm of possibility.

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