AIG should not have been bailed out

[puddlemonkey]

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!

 

[Arabian]

Well how did they go bankrupt if they are into everything.. seems to me theres alot of mismanagement at higher levels

 

[Razorguns]

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

 

[puddlemonkey]

I love Monopoly! I'm always the thimble.

 

[75th]

Well how did they go bankrupt if they are into everything.. seems to me theres alot of mismanagement at higher levels

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]

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.

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

 

[goin on 4T]

Hey the Fed's are charging over 11% interest on the money and they took 79% of the company as collateral...

 

[walliwalibus]

I just read the topic, and I can say I agree. I think its putting a bandaide on a huge problem.

 

[puddlemonkey]

I think its putting a bandaide on a huge problem.

As long as they used neosporin everything should be ok.

 

[75th]

As long as they used neosporin everything should be ok.

They have the new spray.