El Filosofo Liberal

Fuente: http://www.nypost.com/seven/09182008/postopinion/opedcolumnists/why_bailouts_scare_stox_129619.htm?page=0 WHY BAILOUTS SCARE STOX LOCKING IN EQUITY LOSSES Paulson: Too confident he knows better than the market. Last updated: 6:46 amSeptember 18, 2008 Posted: 4:06 amSeptember 18, 2008 THE federal bailout of insurance giant AIG is the latest in a series of panicky interventions that add a capricious element of political uncertainty to the market for financial stocks. In essence, these bailouts give bondholders more protection than they'd otherwise see - at stockholders' expense. It's probably true that "something had to be done" in the case of AIG, the nation's largest insurance company with operations in 130-plus countries. But doing something could have meant doing something else - such as offering a secured bridge loan while AIG engaged in some orderly asset sales. As it is, the US government is charging AIG an interest rate above 11 percent for a wel...