It's Good to See Concenses Are Building to Rescue Banks
While Treasure Secretary Henry Paulson and Fed Chairman Ben Bernanke are working on putting together a plan to rescue banks from their bad debts, Sen. Charles Schumer urged Congress to offer a financial lifeline.
However, I feel that the punishment on AIG of taking a 79.9% stake in return for just extending a loan was too harsh. The shareholder has been punished hard enough. I hope there isn't a socialist agenda behind Sen. Schumer when he wants govenment to take equity stakes in return of capital infusion.
The government should dispose any equity stake as soon as feasible.
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