On December 11, 2012, Arthur D. Postal and Elizabeth Festa writes on LifeHealthPro.com:
The Treasury Department is selling its remaining 16 percent of the common shares of American International Group (AIG), hopefully putting paid to its tumultuous 50-month shotgun financial tryst with the global insurer.
Industry officials, financial analysts and Washington insiders speculate that the sale of its remaining 234 million common shares of AIG through an initial public offering will set the stage for Thursday’s designation of AIG as the first systemically significant non-bank (SIFI.)
That is expected to take place at a closed meeting of the Financial Stability Oversight Council (FSOC).
My colleague in the Coalition for Capital Homesteading (http://www.cesj.org/fedrally/coalition.html) Guy C. Stevenson writes:
Since September 2008, America committed a total of $182.3 billion in connection with stabilizing AIG during the financial crisis. Since then, through asset sales and other actions by AIG, America has not only recovered all $182.3 billion but also earned a combined positive return of $22.7 billion.
Soooooo, . . now where does the MONEY go?
Where does the profit go?
Does it go to pay off the national debt – it created ?
Does it go back into the hands of the tax-payers – whose credit funded it?
Does it go to more spending by Washington bureaucrat?My guess, would you like that with ‘Lube or no-lube’.
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
