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Bottomless Pit Companies - AIG - BofA - Citi Let'em Go into bankruptcy and reorginize...Also we're doing is putting off the inevitable one Q after the next.
How much of that 60bn was Tax dollars from Tarp! All of it?
Bottomless Pit Companies - AIG - BofA - Citi Let'em Go into bankruptcy and reorginize...Also we're doing is putting off the inevitable one Q after the next.
How much of that 60bn was Tax dollars from Tarp! All of it?
Desist, sir! As an enumerated Socialist and Human Resource pledged as collateral on the public debt, YOU are obligated to underwrite all manner of stoofidity.
You did volunteer, via Form SS-5, application for account and number, with Socialist InSecurity, didn't you?
As a "Contributor", equally liable for paying the debt, of course, your wealth is the government's to waste. It must jump in and pull AIG's chestnuts out of the fire. If AIG goes down, so the dominoes fall, pulling down more and more until we realize the unpleasant truth that usury was and is an abomination, intolerable, and should never be allowed.
because if we let them collapse the entire system would collapse and millions of jobs would be lost or so that is what they tell us. The bottom line is that we basically just wasted hundreds of billions of dollars that we could have invested in renewable energy, infrastructure or better yet - tax cuts.
The government thinks they can master plan an economy but in reality the free market reigns supreme. The customers have already voted that AIG, BOFA, Citi has got to go. They made stupid investments and now they are done. Nothing we can stop from happening eventually. The bailouts just extend their death sentence a little bit longer.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
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Unfortunately the US is trying to 'save-face' b-cuz AIG wrote insurance to foreign investors (Countries included) who had bought 'secure' US real estate securities as income producing investments for their national and private retirement programs as well as national investments.
Ironically it comes down to the underwriters (S&P and Moodys) who were very derelict on issuing AAA/AA ratings on garbage. The investors (and insurance companies) tend to have to rely on the credibility of the underwriter. We (USA) screwed up in many realms, but someone wasn't minding the store. It is evident the whole international finance system is based on 'funny money'. This ain't too funny...
Our own cites and towns bought the CDS's that AIG was selling as well as the foreign folks. It looks like we now own AIG. Too bad the stock is worthless. Once AIG spins off the profitable portions of the company to make money, we'll get stuck with the unprofitable portion.
Unfortunately the US is trying to 'save-face' b-cuz AIG wrote insurance to foreign investors (Countries included) who had bought 'secure' US real estate securities as income producing investments for their national and private retirement programs as well as national investments.
Ironically it comes down to the underwriters (S&P and Moodys) who were very derelict on issuing AAA/AA ratings on garbage. The investors (and insurance companies) tend to have to rely on the credibility of the underwriter. We (USA) screwed up in many realms, but someone wasn't minding the store. It is evident the whole international finance system is based on 'funny money'. This ain't too funny...
What a tragedy, ouch.
Moody's rating system is Aaa/Aa, just an FYI. Secondly if AIG goes belly up id get out your shotgun and sit at home because the world that we know would literally end. AIG is tied up into so many international business deals that it would cause a global collapse in literally a day. Secondly they are trying to sell their Asian Arm but i do not believe there have been any bids. Try to remember the government does hire MIT and Harvard grads to think of the consequences. Buy your ETFs boys and girls
The equity of the Asian arm (AIA) and the other profitible life insurance division (ALICO) was given to the government as partial repayment of the intial loan. The P&C companies re-organized. The most recent news included some very specific restructuring elements that have positioned AIG to get back on track and pay off their debts. Do a little research and you will find that there was more to Monday than the $30 billion, which is being used as a line of credit for AIG.
Quote:
Originally Posted by hamiltonra25
Moody's rating system is Aaa/Aa, just an FYI. Secondly if AIG goes belly up id get out your shotgun and sit at home because the world that we know would literally end. AIG is tied up into so many international business deals that it would cause a global collapse in literally a day. Secondly they are trying to sell their Asian Arm but i do not believe there have been any bids. Try to remember the government does hire MIT and Harvard grads to think of the consequences. Buy your ETFs boys and girls
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