AIG sidles up for another pull at the govt teat

[TexianPatriot]

yummy. government nationalizing bubble economy/faux wealth and bad debt left and right as a means to bring prosperity across the land. Idiots...

[Vinegaroon]

Originally Posted by Humanoid

Obama hasn't done anything yet, so its a bit hard to make any claims what he is setting up as for wouldn't you say?
So far Obama has surrounded himself with some pretty good economists.

"Economic common sense" is rarely correct....economics is often counter-intuitive.

Why is it we have moved to expecting the executive to solve all of our problems? We have 3 branches of government, and the legislature is actually the branch I would expect to cause the most change. Does anyone really believe the president can control corporations. I certainly do not. I don't care what Obama promised in his campaign, he can only do so much, and it is going to take a long time.

[floridasandy]

Originally Posted by Humanoid

The bailouts seem chaotic because we aren't seeing (and most aren't even paying attention) to what going on behind the scenes. There is really no time to sit around over beers and discuss matters, they have to act fast. The initial bailout plan has changed a lot and that seems chaotic but really they are just responding to what economists are saying in response to their solutions. Ultimately its a sign that they are listing to economists outside of those officially at the government/fed.

The the bailout 2.0 for AIG is pretty different than the initial one, which was obviously a failure. This time they are taking partial ownership which is something that Paulson and friends seem not to like. This bailout is much more inline with the majority of what economists suggest will work than the previous one.

Anyhow, they aren't trying to bailout bad businesses they are trying to fight deflation and prevent the entire system from collapsing.


Sure, but letting it fail will likely cost us much more. There is too much systemic risk involved in letting AIG fail. There is no real way to predict what would happen if you let AIG fail.

this was not an emergency that required a quick fix. they knew that they were going to be bailing out the wall street merchants back in february. (obama and the derivative merchants). this is not a quick fix for the american taxpayer at all. the reason americans don't want to invest in the country anymore is because they don't trust their government, nor should they at this point. the bailout destroyed american trust and that is probably causing more economic repercussions. look at the businesses that are doing well on wall street and you will see businesses that have been bailed out with taxpayer dollars. our currency, without gold backing, is simply based on trust and where is the trust now?

[sterlinggirl]

Originally Posted by trishguard

I'm not in debt and have a great deal of savings. I don't see why I should have to suffer devaluation of my dollar to save the dead beats and spend thrifts.

.....and when you invest your savings to protect it from devaluation, they tax you on the 'capital gain'.

[trishguard]

Originally Posted by sterlinggirl

.....and when you invest your savings to protect it from devaluation, they tax you on the 'capital gain'.

That's what I was thinking earlier this morning. Even if I find a vehicle to protect what I have, which is mostly my wages that I've already paid taxes on, they'll tax me on it again!!!

[TexianPatriot]

Originally Posted by trishguard

That's what I was thinking earlier this morning. Even if I find a vehicle to protect what I have, which is mostly my wages that I've already paid taxes on, they'll tax me on it again!!!

physical bullion. it wouldn't surprise me to see a tax on physical precious metals in the near future, as I know of absolutely no one that would pay capital gains them.

[runningncircles1]

Can we just make a subsection of the Business/Finance forum for AIG already? Seems a new story comes out every hour...

[trishguard]

Originally Posted by TexianPatriot

physical bullion. it wouldn't surprise me to see a tax on physical precious metals in the near future, as I know of absolutely no one that would pay capital gains them.

Since it was once confiscated, I can imagine that they would now make it illegal for anyone to buy bullion from an individual.

[floridasandy]

it is amazing how many hidden taxes, in addition to the obvious ones, that we pay daily.


if you make any money, the government shoves you in the creek once a year with it in your pockets, and all that don't get wet you can keep. ~Will Rogers

[Humanoid]

Originally Posted by trishguard

I'm not in debt and have a great deal of savings. I don't see why I should have to suffer devaluation of my dollar to save the dead beats and spend thrifts.

Inflation should be the least of your worries. The FED/treasury are trying to fight a deflationary spiral, inflation is not even a concern anymore.

Originally Posted by trishguard

I see these people on the same level as some here see welfare queens and poverty pimps.

Letting an individual fail or a small business fail involves no systemic risk. A number of large businesses are failing right now and nobody is bailing them out. Why? Because they don't pose any systemic risk. The failure of AIG can potentially bring down the entire system. Those dollars you saved up are part of the financial system, if it goes they go with it.