Praise from the thrifty

Amid the gloom of last week’s financial fall-out and industry turmoil, a statement from AIG brought a smile to Backchat.

“We commend the Federal Reserve and the Treasury Department for taking this decisive action to address AIG’s liquidity needs and broader financial market concerns. We thank them for their leadership during this critical time for the global financial markets. We also thank Governor Paterson, Commissioner Dinallo, Commissioner Ario, the other state Commissioners, and the Office of Thrift Supervision for their willingness to assist AIG.” The Office of Thrift Supervision seemed like an unusual and slightly wordy name for the government department that assisted AIG after it hit financial difficulty. It sounds like a parent watching how their kids spend their pocket money, well quite a bit of pocket money actually.