On December 11, 2012, Jim Puzzanghera writes in the Los Angeles Times that the Treasury Department’s sale of 234 million shares will pad the $15.1-billion profit it has made already from the bailout of the giant New York insurer.
The U.S. Treasury said it is selling the rest of its stake in American International Group Inc., in effect closing the books on one of the biggest and most reviled bailouts of the financial crisis that engulfed the world four years ago.
The sale of the Treasury Department‘s remaining 234 million shares in an offering announced Monday would wipe out the government’s 15.9% stake and pad the $15.1-billion profit it has made already from the giant New York insurer.
What a shame that our leadership is so blinded to the idea of extending ownership opportunity to EVERY American and/or the employees of AIG.
Our leadership should get their heads out of the sand and rally support for employee ownership of the profitable AIG, which was bailed-out with taxpayer dollars.
Sign the Petition at http://signon.org/sign/reform-the-federal-reserve.fb23?source=c.fb&r_by=3904687
Sign the WhiteHouse.gov petition athttps://petitions.whitehouse.gov/petition/reform-federal-reserve/PhY3Jswk
AIG should initiate an Employee Stock Ownership Plan (ESOP) to extend ownership to ILFC employees and offer other ownership shares to ordinary Americans through a IRA-type financing mechanism as outlined in the Capital Homestead Act.
The Just Third Way system is available under present Federal laws encouraging ESOPs, but it is limited to workers in the for-profit private sector. We now want to get the same changes to the tax, financing and inheritance systems for enabling every man, woman and child in America to become owners through capital credit for buying new capital growth shares in the private sector that would be repaid with the earnings of the new productive assets (“future savings”) represented by those shares. Today over 11 million workers have become owners without requiring them to reduce their consumption to buy the new shares. That helps grow the wealth-producing economy. We now want to do the same for 310 million citizens, including the disabled, to make the free enterprise economy grow faster without inflation, create millions of new growth jobs, and radically shrink the economic power of government and the need under the current system for government to redistribute incomes and wealth of current owners.
Support the Capital Homestead Act athttp://www.cesj.org/homestead/index.htm andhttp://www.cesj.org/homestead/summary-cha.htm
http://www.latimes.com/business/la-fi-us-aig-sale-20121211,0,6266000.story
http://www.latimes.com/business/la-fi-mo-aig-bailout-treasury-department-20121211,0,3388388.story
