Feds Bail OUT AIG Insurance
Not only did they bail them out….they did it with your tax money to the tune of 85 B-B-B-B-B-B-B-B-BILLION DOALLRS!
WTF???????
www.foxnews.com/story/0,2933,423785,00.html
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16 Responses to “Feds Bail OUT AIG Insurance”
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September 17th, 2008 at 10:41 am
Of course now that the governement owns AIG it’ll be run soooo efficiently…
September 17th, 2008 at 10:55 am
I want what Yarbz is smoking.
September 17th, 2008 at 11:14 am
I hope the CEO and other big wiggers get squat not that they have farked up the whole company…
September 17th, 2008 at 4:14 pm
So…
Let me understand this. The Government has created 85 billion of dollars out of thin air and given it to a failed corporation that deserves to go out of business.
It wouldn’t be so scary if it weren’t the 12th time it’s happened this week. Artificially propping up the economy will have catastrophic ramifications long term. Economies go up and down…that’s the nature of the free market system. Let it happen! The more we avoid the inevitable downturn, the louder the crash will be when it comes. And come it will - it cannot be avoided!
I’ve already apologized to my 12 and 9 year olds for the shitstorm we’ve left for them to clean up…if it’s even possible to ever do so. We’re living in a very sad time.
September 17th, 2008 at 4:26 pm
The way I figure this is that AIG needs to insure all of our cars / homes/ whatever
FREE
September 17th, 2008 at 5:27 pm
Agreed CinLin…looks like we’ve already paid for our policies.
September 17th, 2008 at 5:34 pm
I just sent them this email from their “questions” section:
“I’m just curious about how huge of a discount I’m going to get since my tax dollars just paid for your failure of a company. I would guess at 85 BILLION dollars worth I should receive a check from you along with a free policy.’
September 17th, 2008 at 5:38 pm
And someone help me please. Just WHO in government approves this shit? What office is responsible for this that I can voice my extreme displeasure to?
September 18th, 2008 at 8:06 am
Really good questions, but the issues are deep and complex. I like the fact that the stock of Small Cubicle Insurance Company (SCIC) went up drastically with this news.
I agree that companies that deserve failure should fail. We should NOT have propped up Bear Stearns. Lehman got what they had coming and that is exactly what should have happened to Bear and AIG. That is the heart of capitalism, the strong prosper and the weak die. Unfortunately, the death of AIG has only been prolonged for a couple of years and te rumors of their death are premature.
They should have stuck with what brought them to the dance: insurance. Instead, they got into “credit default swaps” (whatever the fuck they really are) and the entire banking system on the planet was in jeopardy of failure if AIG went down swiftly. Let’s see if they can pay back the $85B over the next two years. I doubt it and really want some free insurance like CinLin. I also don’t mind some cast off business coming to SCIC…
September 18th, 2008 at 9:25 am
Bad investments. Greedy leaders who took too much risk. They should get nothing but asphalt burns on their asses as they’re thrown out the door.
September 18th, 2008 at 11:53 am
Does this mean that “W” will be starring in the next round of A.I.G. commercials???
September 18th, 2008 at 2:10 pm
The affects of massive deregulation are coming back to bite us in the ass.
Free market capitalism at its finest.
September 18th, 2008 at 5:14 pm
McCain just answered my question about who is responsible. He says the head of the SEC should be fired for this. I agree.
September 18th, 2008 at 9:16 pm
McCaint supported the Gramm-Leach-Bliley Financial Modernization Act of 1999 which broke down the walls between commercial and investment banks and insurance companies, and lead to the deregulation we now have in place. In March of this year he said, “Our financial market approach should include encouraging increased capital in financial institutions by removing regulatory, accounting and tax impediments to raising capital.”
So let me get this straight - he supported and voted for the bill that lead to MASSIVE banking deregulation, but now that the very policies he supported and voted for have lead to disaster he wants the guy in charge of putting those policies into practice fired?
And this coming from the guy who put Gramm from the Gramm-Leech-Bliley Act, and THE leading banking lobbyist in DC as the co-chair for his campaign?!?!?!
Seems to me McAint is as responsible for this as anyone. Only he doesn’t seem have the balls to own up to it. I guess they were removed when he was a POW.
September 21st, 2008 at 8:43 am
Pretty cold CD. The evidence is clear that he fathered children post POW time, so his balls are clerly in tact. His mind however, may not be the clearest since he is runnning for POTUS. I think that would cloud almost anyone’s thinking.
You are right about de-regulation running amok (amok, amok, amok) but re-regulation is going to take some time and we need to make certain that oversight is done right, without overtaxation. Whoever came up with “credit default swaps” in the firt place is the guy (or gal now that the glass ceiling is seriously cracked) who neeeds to fry.
September 22nd, 2008 at 6:59 pm
I hate regulation as much as the next capitalist, but sometimes ya gotta do what ya gotta do. And I think we agree on this. It’s not going to be easy, and there’s no quick fix, but something has to happen.
And as far as McAint goes - I call it like I see it. I used to like the guy, but the more I hear him talk the more I realize how out of touch and ignorant he truly is. And he’s turned into a big pussy too.