Lesbian finance guru Suze Orman praised the Federal Reserve Board's decision to bail out troubled insurance giant American International Group Inc. when she appeared on Larry King Live Tuesday.
Larry King asked Orman: "A few months ago, you said on this very show that you would be worried if there was another big government bailout. It's now happening. Should the government be helping AIG?"
"Well, in this particular case, I have to tell you they should. Bear Stearns, very different. Lehman, very different. AIG is an international giant that just doesn't have ramifications here in the United States. It is worldwide. They're like in 130 countries. They have 100,000 employees. Everybody has an AIG insurance policy. So in this particular case, my opinion, thank God, they bailed out AIG," Orman replied.
Orman also said she believe gas prices are going down, giving relief to many who are now struggling economically: "Gas prices probably will go down, I hope, to essentially $3 a gallon. What you're essentially seeing here is like a tax rebate for everybody. That's a lot of people that will help them a lot. Lehman, AIG -- I get that's all bad news, but the good news is for the main people that have to get by every single day. Your gas bills, in terms of what you put in your cars, aren't going to be as high. Your heating bills aren't going to be as high. To go from $150 a barrel down to $91, that's significant."
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