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AIG should not have been bailed out
- Thread starter Arabian
- Start date
They had no choice...
AIG going under would have knocked the entire world into a Depression that would have made the 30s look like a cake walk.
And not only do Bush's friends own a lot of shares in it, but you, I, and 95% of those who invest all around the world do, too.
AIG? never heard of 'em.
Bro, AIG isnt just an insurance company.
Its one of the largest companies on the planet that has a hand in almost all lines of business.
Porn industry? I'd risk my life to save that!
Razorguns
Well-known member
All the shit around you is insured by this one big monolith. What do you think will happen when buildings and the homes you're in and banks are no longer insured?
Maybe you like to see the stock market crash.
the ins. industry needs a major overhaul and federal oversight so monopolies don't exist. Imagine all oil sold by ONE company. But too late now.
r
Maybe you like to see the stock market crash.
the ins. industry needs a major overhaul and federal oversight so monopolies don't exist. Imagine all oil sold by ONE company. But too late now.
r
I love Monopoly! I'm always the thimble.
They didnt go bankrupt.
The thing people dont understand about AIG is that only it's holding company (that invested primarily in CDS securities) was in trouble. Its insurance, annuity, lending, aircraft, etc divisions are all still doing extremely well.
Hence the loan. The Fed knows that people will pay big money for each of these divisions because they are so profitable, which in turn will allow the holding company to get back on its feet.
Razorguns
Well-known member
lol @ Fed being investors. The goal of the govt sure has changed nowadays
Your dollars in your pocket are backed by foreign loans, financial investments and mortgage based securities! Sweet.
r
Hey the Fed's are charging over 11% interest on the money and they took 79% of the company as collateral...
walliwalibus
New member
I just read the topic, and I can say I agree. I think its putting a bandaide on a huge problem.
As long as they used neosporin everything should be ok.
75th does make a case (of sorts) for supporting a federalized bail out....but i STILL maintain that the boys at the top need to suffer also...it was THEIR bad actions and decissions that made this mess happen...a condition of bail out acceptance should be a cut of thier salaries, benefits and retirement packages.
anyone else agree with me on this point?
anyone else agree with me on this point?
In the bailout proposal they did include some compensation "adjustments" for CEOs of the companies that will accept the federal funding.
I personally think a fair way to do this going forward is make sure CEOs are paid more in stock than cash.
so, the bottom line is we the taxpayers will pay for THEIR (CEO's) bad business decissions?
we are setting a dangerous pattern here...............
Just think how much money the CEO's would get paid if they had the luxury of hindsite. Just sayin
so, the bottom line is we the taxpayers will pay for THEIR (CEO's) bad business decissions?
we are setting a dangerous pattern here...............
Its not really only the CEOs fault.
The people who bought more house(s) than they could afford, the loan officer who sold the loan to them, Alan Greenspan, and to a lesser extent the Democratic congress:http://http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aSKSoiNbnQY0
People forget that these types of investments were doing just fine for an extended period of time until retards started buying multiple $500,000 homes on a $50,000 annual income.
Listen 75th no ones to hear that crap! Even if its the truth...
I do have to wonder if anyone in that organization is collecting now and will in the future continue to collect a salary/compensation package worth, ummm, say anything from $100k a year and up.
I think the resentment is that plenty of little people have debt and their lives are a continuing cycle of sucking it up and working longer hours and giving up on luxuries like clothing that comes from somewhere other than Goodwill or furniture that you buy at a store instead of pick up on the curb, and they just equate their problems with the people who are running THAT company, who live in mansions and rake in 7 figure salaries, that's all. Granted, a lot of that is because average people don't understand micro/macro economics and worldwide ramifications but the truth is, the majority of people don't care. They care about their backyard and their kids and hearing that you and your kids are probably taking it up the ass in taxes because of something a bunch of someones who own yachts and ride in limos did does stick in one's craw, just a bit.
I think the resentment is that plenty of little people have debt and their lives are a continuing cycle of sucking it up and working longer hours and giving up on luxuries like clothing that comes from somewhere other than Goodwill or furniture that you buy at a store instead of pick up on the curb, and they just equate their problems with the people who are running THAT company, who live in mansions and rake in 7 figure salaries, that's all. Granted, a lot of that is because average people don't understand micro/macro economics and worldwide ramifications but the truth is, the majority of people don't care. They care about their backyard and their kids and hearing that you and your kids are probably taking it up the ass in taxes because of something a bunch of someones who own yachts and ride in limos did does stick in one's craw, just a bit.
Thats the thing...it was a team effort between the averages joes and the rich folks that people seem to hate these days.
"Rich" has become the new "racist."
75th good thing you arn't all in on the Jets tonight!
I actually am lol.
Well, I do say all that shit about buying houses that will eventually be way out of your financial league but you can pull it off because of adjustable mortgages was just the dumbest fucking thing I'd ever heard of, seriously. But who was dumber? (or more wrong) Joe Jackass who believed what the mortgage broker, the professional person, told him? Or Sammy Sleazeball, the mortgage broker who KNEW that the mortgage was a nightmare but wanted that commission and it wasn't his problem anyway because the thing would be sold to some other company within a month.
Now as to "Rich" being the new Racist, I'm not sure if I understand what you're saying, unless it's an allusion to the fact that Rich bashing is now okay. Frankly, rich bashing has ALWAYS been okay
When people perceive that an unreasonable amount of resources are being funneled to a disproportionately small percentage of the population, they get resentful. That resentment gets big enough, and people start to talk. They talk loud enough and long enough, eventually someone starts doing shit and then the mob joins in. That's the way civilization has worked for a very, very long time. It's only been recently, with the advent of stricter laws, powerful weapons and security measures, that the privileged few have been able to get away with shit relatively unscathed.Similar threads
