Financial industry rescue criticized as double standard
Congressional leaders and the Bush administration have stressed that the industry's $25 billion must be the automakers' last word on government help. Yet two of the largest financial institutions are on their second and third serving of government bailout funds; The Treasury had put $25 billion into Citigroup, while privately held AIG has now drawn $150 billion in loans from the government.
"It's a double standard, basically," said Sen. Carl Levin, D-Mich. "Holy cow, AIG gets $150 billion for one insurance company that not only made mistakes but engaged in very dubious practices ... and they're bailed out? I'd love to see what their financial plans are, but I doubt they were even asked for them."
