Financial News 9/10/12 – US sells AIG stocks, Aseem Trivedi, Clint Eastwood Defends Speech


Financial News 9/10/12 – US sells AIG stocks, Aseem Trivedi, Clint Eastwood Defends Speech

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    The Treasury Department said it would sell $18 billion of AIG stock in a public offering, slashing its stake by more than half, and making the government a minority shareholder, for the first time since the financial crisis was roaring in September 2008. The sale will mark a step, that seemed hard to imagine four years ago, when the New York insurer was effectively nationalized, as part of a very controversial financial-industry bailout. U.S. officials four years ago said the rescue of a teetering AIG was necessary because the company was so entangled with other financial firms around the world via complex instruments that its collapse could have unpredictable effects including possibly bringing down many other firms. A near-exit by the government from one of the most controversial bailouts is widely considered a significant accomplishment for the Obama administration.

    And from the world of anti corruption movements, it turns out, Russia is not the only one who knows how to tackle its opposition. India cartoonist Aseem Trivedi’s recent arrest, sparked outrage through the Indian nation. Aseem Trivedi appeared in court in Mumbai and was held in custody until 24 September on charges of sedition, for cartoons that are allegedly mocking the constitution. Trivedi is demanding the charges be dropped. Many Indians see his arrest as an attack on freedom of expression. The cartoonist has been participating in the anti-corruption movement led by campaigner Anna Hazare, and refused to apply for bail at today’s hearing, saying if telling the truth made him a traitor then he was happy to be described as one. Indians have condemned Trivedi’s arrest, calling it a “wrongful act”. Protesters on social networking sites, said it was shameful that corrupt politicians were being let off, while those who highlighted corruption were being jailed. Story of our lives.

    After delivering his rambling speech, that drew widespread criticism, with some commentators saying it had damaged Romney’s campaign, Actor and Director Clint Eastwood is now trying to defended his widely mocked appearance, at the Republican National Convention, saying criticism has come “from the left”. The 82-year-old conducted an imaginary conversation with Barack Obama at the convention, where he was endorsing Presidential candidate Mitt Romney.I’m sure you all know what I am talking about, and if you don’t have a look at the news we aired on September 4th. He admitted it was “unorthodox” but called the crowd “super enthusiastic”. The Oscar-winning director said campaign aides had asked for details about his speech in advance, but Clint Eastwood told them, they couldn’t do that to him and he didn’t know what he was going to say yet. The idea to deliver a speech to an invisible Obama only came to him 15 minutes before he stepped out on the stage in Tampa, Florida, when in fact he saw the empty chair next to the podium. Well there you have it, this is what happened when 82 year old actors decide to take their rusty improvisation skills for a spin. However, we will still love you Mr. Eastwood.

    The US Open Final is on today folks! Will Murray bring honor to Great Britian? Will he be able to shake the curse of always the bridesmaid never the bride, that had also tortured Tim Henman? We shall see today – as the match for the 2012 US Open title kicks off at 4pm. Personally I think we will potentially see a great match, but in the end Djokovic will take this one home.

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