Welfare Queens Gone Wild!: They're lining up en masse for handouts.....

[marmar]

from NY Times:



Insurers Are Getting in Line for Piece of Federal Bailout
By EDMUND L. ANDREWS and ERIC DASH
Published: October 24, 2008


WASHINGTON — The chase for a piece of the Treasury Department’s $700 billion bailout program intensified Friday as the government considered extending it to include insurance companies as well as banks, and the auto industry stepped up efforts to secure a share of the money.

Even as the Treasury began approving capital injections for about 20 regional banks on Friday, including $7.7 billion for a merger between PNC Financial and National City, carmakers pressed for their financing subsidiaries to be eligible for a part of the bailout fund because they provide a major channel of credit to consumers through car and other types of loans.

Bush administration officials said they were not inclined to take equity stakes in auto companies, since Congress recently financed a $25 billion loan program to help the automakers develop fuel-efficient vehicles to meet new federal mileage standards.

“We are trying to focus on financial institutions,” said Michele Davis, a spokeswoman for the Treasury Department.

But the negotiations are unlikely to stop there. On Friday, a top economic adviser to Senator Barack Obama of Illinois, the Democratic presidential nominee, said Mr. Obama supported the auto industry’s request to be included in the bailout package. ......(more)

The complete piece is at: http://www.nytimes.com/2008/10/25/business/25bailout.html?_r=1&oref=slogin

[lonestarnot]

1. Oh sure, there they are! Fucking insurance co.s! AIG needes another manicure/spa treatment!

[midnight]

2. You know how the guys on wall street have been wining and

dining the washington insiders to get them to hand over lots of money to them.....Well, we just thought it was the Social Security. Those tricky rabbits found another honey pot.....

[Turbineguy]

3. They've killed the Market

they have to find another source for funding their yacht purchases.

[Union Thug]

4. Look, there they are! Our intrepid, would-be heroes lined up to save us all!

I'm so thankful for them being there for us.

:sarcasm:

[snappyturtle]

5. HOW is it that the insurance sector is suffering considering the fact

they suck the blood out of their customers? I don't want to offend any insurance people here but it seems to me the common man in the country needs help before the insurance companies put their hands out. Another attempt of the * administration to finalize the total destruction they have perpetrated.