As the Great Recession continues around the world, the Central Bank of the Republic of China (Taiwan) cuts its required fractional reserve ratios for the first time in eight years.  CBRC(T) also adds 3,590,000,000 “dollars” worth of foreign-currency into its commercial banks.

       NOTES:

• AIG’s common stock (having voting rights, but paying no guaranteed dividends) closed the day at 2.05 “dollars” per share, down from 3.75 “dollars” per share at the opening bell, down from 19.87 “dollars” per share the previous month, and down from 67.65 “dollars” per share the previous year.
• This is the further realization of plank number five of the “Communist Manifesto” by Karl Marx.

       [added 5/25/2021] Thanks to Freedom’s Phoenix for this entry.

       The second AIG bailout: While the United states Armed Forces (private mercenaries) are stationed at 737 bases, in 130 nations around the world, defending “all freedom-loving people everywhere in the world,” at 10:PM, on a Sunday night, Benjamin S. “Helicopter Ben” Bernanke, Chairman of the Federal Reserve Board of Governors (a Federal agency) that oversees the privately owned Federal Reserve System of (central) Banks, announces the purchase of 85,000,000,000 “dollars” in preferred stock (paying a guaranteed dividend, but having no voting rights) in the American International Group, the nation’s largest insurance company.  This gives the FRSB an 80% share in the ownership of one of the world’s largest insurance companies.  This is the first time the FRSB have purchased ownership of a private corporation.  Over the previous nine months AIG has lost 123,000,000,000 “dollars.”

       [added 5/25/2021] Thanks to Freedom’s Phoenix for this entry.

       Henry M. Paulson, Jr., secretary of the treasury—in violation of a conflict of interest agreement he made a condition of his appointment—accepts a telephone call from Chairman Lloyd C. Blankfein, Paulson’s successor at Goldman Sachs investment bank.

       [added 5/25/2021] Thanks to Freedom’s Phoenix for this entry.

       The Reserve Primary Fund, the oldest and one of the largest money market mutual funds, at 62,500,000,000 “dollars,” “breaks the buck” (meaning its share price has fallen below its normal 1.00 “dollars”) after writing off 785,000,000 “dollars,” in losses due to the Lehman Brothers (investment bank) bankruptcy the day before.

       [added 5/25/2021] Thanks to Freedom’s Phoenix for this entry.