– Another day another bailout. At 6:30pm yesterday evening on Capitol Hill the government’s plunge protection due Hank Paulson and Ben Bernanke announced to lawmakers a plan to plunge $85 billion of taxpayers’ money into insurer AIG (NYSE:AIG) to prevent it from going under. In return, the government will take a 79.9% stake in the company.

– Interests of taxpayers “protected,” according to Fed statement. “Loan is collateralized by all the assets of AIG.” “Loan is expected to be repaid from the proceeds of the sale of the firm’s assets.” 

– “The US government will receive a 79.9 percent equity interest in AIG