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$85 Billion Bailout
Filed under: Icky Icky Poo > Hot Mess > Business Blitz
Our tax dollars 'hard at work'!
The government has agreed to bail out the 'world's largest insurer' - AIG - for $85 billion.
We don't get it!
AIG paid almost a billion dollars to have their name on the jersey of English soccer giants Manchester United a few years ago.
Then the company goes on to make more shitty business decisions AND then they get 85 BILLION as a hand out from Uncle Sam?
Will the U.S. tax payers get the profits of AIG since we're bailing them out?
Life is so unfair for the regular guy!
This was probably for the best, though. Right?????
[Image via WENN.]
Posted: September 17, 2008 at 9:15 am
Ridiculous!!! First we pay OUTRAGOUS premiums for insurance that BARELY covers our asses after an accident and we get penialized with HIGHER premiums….NOW OUR TAX DOLLARS ARE BAILING THEM OUT….WHERE THE FUCK DID OUR MONEY GO???????
It's bullshit!
THE GOV'T MUST HAVE SOME SORT OF INVESTMENT IN AIG OR THEY WOULDN'T DO THIS! BUT YAH YOU ARE GOING TO PAY FOR IT, WHILE THEY GET RICHER!
GET RID OF THAT BACKGROUND hard to read the comments Perez!!! sheesh
I am an AIG worker and let me tell you everyone was very scared.
…. I for one am very happy that I can continue to work and have food on my table.
There are thousands of people that could of lost there jobs the ones that have to work to pay there rent
Love you perez!!!
It does indeed suck for the average joe, but necessary to save the economy from tanking even further. AIG would have had a ripple effect across the nation economically if it had died.
That is a load of crap. Figures.
i don't get that one either.
It's called CORPORATE WELFARE.
I work for AIG in New Jersey. They are done as they will never be able to pay this back. Vote McCain/Palin
I doubt this was the best move for the taxpayers of America….let's remember this when we ALL go to the polls this November!
Bullshit..Oh it wasn't Uncle Sam it was our good ole boy Prez. Bush..wonder what he will get in return??
For the best? Sure, if you consider the Fed could bail out all enroled postsecondary students in the US to the tune of $4210 for the cost of trying to save AIG…
YES! its a good thing
Welcome to America. Land of the blue collar support system! We also bailed out mortgage companies to those who lost their homes due to poor financial decisions… I, personally, didn't commit to a mortgage I knew I couldn't afford. I'm sick of paying for other people. As a working class citizen, you pay for other people's children, health care, food stamps etc… all while not being able to afford your own children, buying your own health care(if your company pays for it, chances are you have a lower salary than you should have), and buying your own outrageously priced foods. Speaking of food.. gas prices are the cause of that. This war is the cause of ludicrous gas prices… and, yep… you're footing the bill for that war too, support it or not.
WHERE ARE OUR BENEFITS?!
companies as large as AIG going belly-up would have serious repercussions for the economy, which would essentially only hurt the "regular people." Additionally, an incredible amount of people would be out of jobs… I feel like governments should do everything possible to help maintain a stable economy (especially if they have the dollars to spend as much as they have on this murderous "War on Terror!"
Ummmmm…. Is my $85 million check in the mail?? Cause I haven't recieved it as of yet…..
This is all fucking bullshit. They're throwing money around like we have it. I want Obama to win in November but as fucked up as our economy is right now neither of these candidates are qualified for the position we're in.
Their bankruptcy would cripple our economy because of the ripple effect it would have. The loan is against their assets, so the taxpayers aren't at risk for that money being lost. This is a good thing for the economy. There's plenty of actual bad things the government is doing. Bitch about that, not this.
First of all its a bridge loan and in exchange the Fed gets warrants to purchase stock which equates to 80% of the company.
Re: Hard-On –
you said it, toots!
DESPITE THE CORPORATE WELFARE, it is definitely necessary for the government to bail these companies out. First of all, these predatory lending tactics, which basically charged POOR PEOPLE exorbitant fees on standard loans and included ballooning interest rates on everything from cars, mortgages, and encouraged second mortagages and pay day loans that poor people can't even afford, is the cause for the collapse of our economy. Credit lenders tried to screw the poor out of their pennies and guess what? Poor people DEFAULTED on said loans. The banks thought they could not only collect the money owed, but confiscate any collateral in the form of houses, cars, etc and did. However, they were unable to sell them OR collect said funds and didn't recoup the money they loaned out. So they went under.
The poor are the backbone of our economy and the second our government and banks realise this, the better off we'll be. Those companies would be standing today had they given normal loans with normal interest rates.
GREED caused this.
They're also bailing out people who took out mortgage loans they couldn't afford….or agreed to take out loans with terms they didn't understand. So what's the difference? Apparently, stupid behavior is rewarded in this country.
Bankruptcy will be common for small businesses if Barry Obama is elected.
@#%* that bullshit! AIG screwed us over after Katrina and now we have to bail them out??
This is why we need change people.
Obama/Biden 08
we have to bail them out
itz not just them, if they
fail, thousandz of otherz
fail..thiz company must at all costz survive..
HOWEVER,
I WANT TO CUT HIM A SMILE AND SHUCH HIS EYEBALLZ OUT.
LIKE NOW…
These mother effers.
We need CHANGE people…
OBAMA
Re: Kell – He gets nothing in return you meat head. This had nothing to do with President Bush as the President does not have the purse strings. He can only advise. This was all the liberals in Congress. Geesh read and learn something.
Re: sashita858 – THAT'S VERY TRUE! EITHER WAY IT'S THE "LITTLE PEOPLE" WHO PAY!
Re: annalove65 – I feel you honey! I work for them too and it has been a very scary week here in boston! All i hear is chatter and worries that we are closing! Think god for the government for once! granted we now work for them…p.s. Perez you looooook FABULOUS!!!!!!
Seems as if the Bush administration/McCain are trying to buy electors' VOTES thru this!! Showing how much they CARE ….It s a rather OLD and known "method" of conservative parties, using catastrophies like that….I m afraid the U.S. population will be too DUMB to even notice this "trick" by the Republicans….yes, of course, the TAX PAYER pays! And unfortunately not only the US tax paywe! Today in Germany s BILD tabloid: "…Million transfer to bankrupt bank. Germany s finance minister Steinbrueck/Social Democrat Party threatens with consequences for Germany s state-owned bank KfW and he s pissed off: Shortly before Lehman-Brothers investment bankd collapsed, the state-owned KfW "subsidy bank" (there s no American equivalent to this kind of banks in Europe, KfW= "recostruction loan corporation") transferred 300 Millionen Euros to the already struggling Lehman Brothers bank. Taxpayers' money!
A catastrophe: Steinbrueck threatens them with consequences for the "more than astonishing and infuriating transaction". KfW bank sais this was "a technical error"….
THANK YOU, America!! eh…I mean thank you, American Bush ADMINISTRATION maffia!
Bundesregierung und Finanzexperten im Bundestag forderten Aufklärung – Union, FDP und GrĂ¼ne sprachen von einem schweren Versagen des Risikomanagements und forderten Aufklärung Ă¼ber den Verbleib der Steuermittel.
Re: Exiegurl – SO THAT'S THEIR INVESTED INTEREST, I KNEW THE GOV'T HAD TO HAVE ONE IN ORDER TO DO THIS!
Re: UrJustADayLate –
People like you are what's wrong with this country. You are so worried about "paying' someone else's way with your tax dollars, which .08 cent goes to the poor, about 10 dollars of your tax dollars will go to this corporate welfare.
The poor didn't cause this. These are normal working class people who wanted houses, but were screwed with bad contracts by greedy companies. These people were taking advantage of people who wanted homes and often presented the loans with a low amount.
Other companies that are responsible for this collapse are pay day loan "sharks" who charge an average of 400% on loans to working class and middle class people who couldn't afford to pay them back.
Had their fees been more reasonable and not greedy they would have gotten their money.
Creditors spent 300 million dollars lobbying to have the credit laws changed so they can screw the poor out of their money and this bill was BACKED and lobbied by the Republicans. The current administration knew the poor were being screwed out of their money and did nothing. Now all of us have to pay for it. I do not blame a single homeowner for what happened.
Get two movies to understand our credit system: MAXED OUT and IRAQ FOR SALE are must see movies.
So not proud to be a citizen of the Divided States of Embarrasment
Re: LettyB –
Letty, you re right, I guess the Bush Republican "clan" has some stake in AIG…It s always THE SAME sleaze Republicans - business men!
HELLO
Re: annalove65 –
So, you NOW will vote REPUBLICAN, now that they "bought" your vote with ALL taxpayers' money? it s all so OBVIOUS what the Republicans are trying to achieve….are Republicans "buying" ALL US Banks now that DEFINITELY WILL GO BANKRUPT over the next few months or even years?
Dont forget: It was the REPUBLICAN Administration that has let bankers act in such criminal ways for YEARS now and led to the - sad - situation you all are in now!
lol expect more government bailouts and welfare handouts from YOUR tax dollars if America is naive enough to elect Obama in November.
"[John McCain] said on NBC's "Today” show that taxpayers should not be "on the hook” for AIG, which may be on the verge of collapse. He praised Treasury Secretary Henry Paulson for denying requests for a bailout, saying Paulson "has been correct” in asserting taxpayers aren't responsible for business failures. "
Of course, the Obama fans don't like to mention this when they're trolling the internet.
Re: Sukiyumyum – Not just the nation, but the world economy also.
Re: LettyB –
Hi LettyB,
whatz up…?
zzzzzzzzzzzzzzzzzzzzzz
cockz run thiz company and you wonder why shit alwayz failz?
zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
they are connected to so many other businezzez..itz crucial
that they are up and running..don't u love how everyone lozt
their 401kz yezterday….it waz never there anyway..only on paper..which alwayz later turnz out to be a lie…
zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
hey LettyB…
ever heard of Casey Anthony from Orlando that killed her kid?
well, the monterz in the morning radio show
said that she fed that
baby TO AN ALIGATOR TO DISPOSE OF THE BODY
and so far the whore has been fukin 3 copz that we know of
2 lied for her and got fired and
now the ”monzterz in the morning” say that she is screwin
her lawyer..she spendz 4 hourz a day at his office…
what a ho…
what should we do about her…?????
maybe o.j. would kill her..hez going to prizon for life anywayz.lol
zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
Well, what do you expect? The democraps have control of congress. If Osama is elected, the democraps will have control of congress and the white house, expect to see a whole lot more of the giant corporations bailed out while the small business owner is left to die out.
There is more to this election than gay weddings and abortion, which is all Hollywood cares about.
Re: tamar –
LOL…"United States of Embarrassment"?? That sounds GOOD and really fits like a glove (for European ears)…I ll have to keep that in mind in future when talking with my US colleagues…*GG*
…and as far as I know it is one of the few industries who do not have to open their books like the rest of us business owners do. "This Masquerade" of an ass kissing is disgusting and unfair…
Re: annalove65 – (sp) there =their
Perez you are such a retard…it isn't a bailout it is a loan backed by more than $1 TRILLION in assets…and an 11% interest rate. You make statements about politics and business, you should stick to celebrity gossip…cause your a mental midget. You never get the facts straight. If AIG had gone under, everyone would have felt the results…try getting a car loan, mortgage or credit card if that had happened. Dumbass.
Re: LettyB – Letty your back.Its good to see my little head again. What did they do with all the multi billions they made in the past !!
Re: njpaul0129 –
Wrong - your President DOES HAVE the "purse strings" of taxpayers' purses! (a LOT of his rich friends in legislature and administration will be pleased to pull them open for him!)
All of their management is being replaced…
You people are sooo stupid. This was all Clinton's fault. he was the one who reduced regulations on mortgage companies that allowed them to do this type of stuff by letting them give home mortgages to people who could not afford it. How dumb are you MF'ers. Clinton did all of this back in the early 90's. God damn you people are dumb.
Re: Bavaria –
lol where did she say ANYTHING about how she's voting? You rabid Obama-lovers will make any excuse to talk down to people, won't you? The only thing Obama would do in this situation is tax the fuck out of an already weak corporate sector and then hand out the proceeds to all the lazy shits around the country who expect the government to pay for their 6-packs of Budweiser. Forget the companies failing on their own..Barack wants to do everything he can to kill corporate America because he apparently skipped Econ 100 the day they did ↓companies = ↑unemployment = ↑prices.
Perez not a bailout…a loan backed by more than $1 TRILLION in assets and at an 11% interest rate, plus the Fed received at 79.9% interest in the company…dumbass get the facts straight or stick to celebrity gossip.
Re: Sensitivity – OFFSHORE ACCOUNTS! LOL!
AIG wasn't the world's largest insurer.
From Tim Wise:
Sep 13, 2008 By Tim Wise
Tim Wise's ZSpace Page / ZSpace
For those who still can't grasp the concept of white privilege, or who are constantly looking for some easy-to-understand examples of it, perhaps this list will help.
White privilege is when you can get pregnant at seventeen like Bristol Palin and everyone is quick to insist that your life and that of your family is a personal matter, and that no one has a right to judge you or your parents, because "every family has challenges," even as black and Latino families with similar "challenges" are regularly typified as irresponsible, pathological and arbiters of social decay.
White privilege is when you can call yourself a "fuckin' redneck," like Bristol Palin's boyfriend does, and talk about how if anyone messes with you, you'll "kick their fuckin' ass," and talk about how you like to "shoot shit" for fun, and still be viewed as a responsible, all-American boy (and a great son-in-law to be) rather than a thug.
White privilege is when you can attend four different colleges in six years like Sarah Palin did (one of which you basically failed out of, then returned to after making up some coursework at a community college), and no one questions your intelligence or commitment to achievement, whereas a person of color who did this would be viewed as unfit for college, and probably someone who only got in in the first place because of affirmative action.
(continued)…
White privilege is when you can claim that being mayor of a town smaller than most medium-sized colleges, and then Governor of a state with about the same number of people as the lower fifth of the island of Manhattan, makes you ready to potentially be president, and people don't all piss on themselves with laughter, while being a black U.S. Senator, two-term state Senator, and constitutional law scholar, means you're "untested."
White privilege is being able to say that you support the words "under God" in the pledge of allegiance because "if it was good enough for the founding fathers, it's good enough for me," and not be immediately disqualified from holding office–since, after all, the pledge was written in the late 1800s and the "under God" part wasn't added until the 1950s–while believing that reading accused criminals and terrorists their rights (because, ya know, the Constitution, which you used to teach at a prestigious law school requires it), is a dangerous and silly idea only supported by mushy liberals.
(continued…)
White privilege is being able to be a gun enthusiast and not make people immediately scared of you. White privilege is being able to have a husband who was a member of an extremist political party that wants your state to secede from the Union, and whose motto was "Alaska first," and no one questions your patriotism or that of your family, while if you're black and your spouse merely fails to come to a 9/11 memorial so she can be home with her kids on the first day of school, people immediately think she's being disrespectful.
White privilege is being able to make fun of community organizers and the work they do–like, among other things, fight for the right of women to vote, or for civil rights, or the 8-hour workday, or an end to child labor–and people think you're being pithy and tough, but if you merely question the experience of a small town mayor and 18-month governor with no foreign policy expertise beyond a class she took in college–you're somehow being mean, or even sexist.
(continued)….
White privilege is being able to convince white women who don't even agree with you on any substantive issue to vote for you and your running mate anyway, because all of a sudden your presence on the ticket has inspired confidence in these same white women, and made them give your party a "second look."
White privilege is being able to fire people who didn't support your political campaigns and not be accused of abusing your power or being a typical politician who engages in favoritism, while being black and merely knowing some folks from the old-line political machines in Chicago means you must be corrupt.
(continued)…
White privilege is being able to attend churches over the years whose pastors say that people who voted for John Kerry or merely criticize George W. Bush are going to hell, and that the U.S. is an explicitly Christian nation and the job of Christians is to bring Christian theological principles into government, and who bring in speakers who say the conflict in the Middle East is God's punishment on Jews for rejecting Jesus, and everyone can still think you're just a good church-going Christian, but if you're black and friends with a black pastor who has noted (as have Colin Powell and the U.S. Department of Defense) that terrorist attacks are often the result of U.S. foreign policy and who talks about the history of racism and its effect on black people, you're an extremist who probably hates America.
White privilege is not knowing what the Bush Doctrine is when asked by a reporter, and then people get angry at the reporter for asking you such a "trick question," while being black and merely refusing to give one-word answers to the queries of Bill O'Reilly means you're dodging the question, or trying to seem overly intellectual and nuanced.
(continued) WHEW…
White privilege is being able to claim your experience as a POW has anything at all to do with your fitness for president, while being black and experiencing racism is, as Sarah Palin has referred to it a "light" burden.
And finally, white privilege is the only thing that could possibly allow someone to become president when he has voted with George W. Bush 90 percent of the time, even as unemployment is skyrocketing, people are losing their homes, inflation is rising, and the U.S. is increasingly isolated from world opinion, just because white voters aren't sure about that whole "change" thing. Ya know, it's just too vague and ill-defined, unlike, say, four more years of the same, which is very concrete and certain.
White privilege is, in short, the problem.
If any of you would have read up on this you would realize that if AIG went under, the economy that everyone is bitching about would get wayyyy the fuck worse. Everything would be even more ridiculously priced.
Maybe someone should ask Obama how he plans to regulate these corporations. Afterall, he has gotten thousands of dollars in contributions from Freddie Mac and Fanny Mae. BUT he would like you to think he's going to regulate them???? Yeah right, their in his pocket.
dear Perez,
you clearly do not comprehend the economical point of view of this issue - it is NOT a bad thing and nonetheless unfair for taxpayers. In the long run all you Americans WILL benefit from this.
GO BACK TO SCHOOL PEREZ!
To Urjustadaylate….if Obama wins get used to supporting the lazy. He is a radical liberal Demo who believes in taking from the people that have (ie. people that work and pay taxes) and giving handout to the havenots (those who don't work, have babies they can't afford, etc.). McCain will provide tax cuts for EVERYONE…including corporations/small businesses…helping to grow the economy…McCain/Palin 08!
Re: JembaBemba –
OOps, I meant they're in his pocket.
It's in the best interest for me. I am a teacher and our retirement is a program under AIG. I was really worried that all the money I have been paying into my retirement would be gone if they had gone bankrupt.
ugh!! it's BULL! bull bull bull!!
sure, i feel bad for the workers but comeon!!
it was AIG's and all those investment companies FAULT!!!!!
dont give loans and insure people who cant buy a house! that simple!
Hey folks, the evil GOP are at it again! LOL
"The Obama campaign and the Democratic National Committee have filed a lawsuit in federal court in Michigan over the Michigan GOP's plan to use foreclosure lists to challenge voters at the polls, as first reported by the Michigan Messenger.
Bob Bauer, general counsel for the Obama campaign, and Mark Brewer, chairman of the Michigan Democratic Party, announced the lawsuit in a conference call with reporters this afternoon. It was filed on behalf of the campaign, the party and three Michigan residents who have had their houses foreclosed upon in recent months.
Bauer called the GOP plan to use foreclosure lists "a new and especially repellent version of caging." Caging is a technique of challenging voters where they take lists of addresses, mail to them with a "do not forward" marking and if for whatever reason those mailings are returned, they use this as a basis for claiming that the voter no longer lives at the address at which they are registered. "
Re: loribaby1 – Why do they need this 85 billion bale out if they have 1 trillion in assets?
Re: kitten poo –
And we're supposed to take someone serious that calls themself "kitten poo" . Give me a break, go study for your algebra exam sweetie.
Re: kitten poo –
paranoia will destroya
Re: kitten poo –
Hey everyone, this outrageous situation is all about lack of control, extreme deregulation, and terrible corruption in US government. Start reading between the lines and hold the government accountable! American taxpayers are paying up the arse right into the pockets of major private interests. The current government favors the rights of the rich corporate coffers. An economy should be able to run without these sorts of bailouts and corruption.
GET RID OF THE REPUBLICANS!! OBAMA 08!
the most common misconception is that the federal reserve is part of the U.S. government….IT'S NOT! they are a private bank…our country sold us out years ago, they just let people keep thinking they control our money….look it up.
It should be known that AIG's holding company (the guys that invest all those premiums you pay) is at risk, not it's subsidiaries (the guy's that pay out insurance claims). And this Gov't 'bail-out' is not a play to save AIG, but rather a play to save the economy from complete ruin. Listen, AIG is caught between the proverbial "rock and hard palce". A portion of their investments were in mortgages…those defaulted. Now they are leveraged out. They have piles of debt, loads of assets and no cash, which means they can't pay their debt. So, they have two choices: 1) File for Bankruptcy (protection against their creditors) or 2) Deleverage their company by selling off their assets.
PROBLEM:
1) Filing for bankruptcy merely passes off the buck. Now the ppl that were owed money from AIG can't pay off their debt. Cycle continues, economy loses.
2) Selling of their assets devalues the entire market (companies have to 'mark to market'), economy loses.
Solution:
Gov't injects $85B into the economy through AIG. Now AIG can pay off their debts without devaluing the market…will this save AIG…No, they will eventually wind down and go insolvent…but this does save our economy…for now.
The sad thing is…all of these problems (sub-prime defaults, credit crunch, etc.)could have been avoided…
Pigs get fat and hogs get slaughtered.
First of all, this post is a PERFECT exemplification of why Perez needs to be mroe careful about his political postings. …I LOVE that people here are rushing to blame George Bush or Congress for the bailout. Clearly there's no understanding of how the FED works/its structure. Beyond that though, all these concerns for the "common man" and "regular citizens" noble as they are, are pretty blind to the fact that even though these people might not have investments in AIG or any overtly obvious stake in AIG/its multitude of subsidiaries(which are in industries outside of insurance and finance), AIG is the nation's largest insurance company, and one of the largest in the world. A fact which of course, makes everyone automatically say "but I have a difference insurance plan" I was watching a report on MSNBC yesterday where they very correctly said that despite it's size, most American had never heard of AIG…. A fact that matters very little b/c at the end of the day, familiar with it or not, its collapse would effect every single person/house hold. Immensely. Sort of in the same way even though not everyone had a subprime mortgage we're all dealing with the fall out. Except that the failure of AIG in the US as well as throughout the world would have such a far reaching economic effect it'd be ridiculous. And scary to picture.
Wise words from Mr. Wise. Thanks kitten poo.
I've always said MCO's/ Corporations run America NOT the people.
Unfortunately b/c of the GLOBAL stage of AIG we HAD to bail them out or face the dollar going weaker. What I DO NOT support however, is the US borrowing 1 billion from the Chinese in order to rebuild Georgia ( no, not down south Dixie Georgia) but Georgia that Russia attacked, We borrowed 1 billion to rebuild their roads. Corporate welfare is alive and well in America, this is why I stress government accountability when our $ is spent and before Obama bashers start it's fair to say this will still be an issue as McCain whole campaign is run by Lobbyists on "haitus" including Rick Davis who is definately one of the uber lobbyist of lobbyists. Both campaign have lobbyist issues, one more than the other… guess who
For all you genius' out there the bailing out of AIG is a Godsend. Yesterday they thought that they were going to go bankrupt. That would mean EVERY THOUSANDS of people who work for AIG would have been canned. Not only that but AIG does retirements for hundreds of thousands and these hardworking people would have lost what they so dearly have worked for. This is not about GOP versus the Dems its about trying to save this fucking country and all of us living in it. Love you Perez
Republicans and Alan Greenspan (fuck what's his name?) convinced Clinton in 1999 (who initially resisted) to deregulate the credit companies (who spent 300 million lobbying ) so clinton opened the door for this to happen. LETS BE HONEST folks and this is coming from a democrat. This is why Democrats shouldn't play the middle. The argument at the time was that Democrats were preventing "poor" and "working class" people from getting homes, credit, and loans. See why we should never work with the REpublicans? The plan backfired.
I'm blaming Bush for this. He knew what was happening for 8 years and DID NOTHING. He knew the poor were getting screwed by his friends, and did NOTHING. He knew a year ago about the foreclosures, and DID NOTHING.
In fact, Bush and the Republican congress let a CREDITOR write our last bankruptcy law, which they wrote to BENEFIT creditors and not American citizens, then the republican senator who lobbied for this bill QUIT his job as a senator and went to work in the private sector for the same creditor.
CONFLICT of interest. So now we have stricter bankruptcy laws which made it harder for home owners and working class/middle class people to get out of trouble. SO yes, bush is still the blame because in 8 years, this problem flourished and then he made it worse with the last bankruptcy law.
Re: MINXLIVES –
And you best believe that 1 billion dollars went to one of those private contractors they are paying billions to already in Iraq!
Yes, corporations run america now. In fact, the vice president and president were CEOS of oil companies and the "private contractors" that are now in Iraq.
Hmm, go figure!
Yet dumb ass americans support these people, not because they're any good, but because they're racist assholes.
They can't even say they support republicans because they are conservative. Republicans aren't conservative anymore with the trillions they've spent in iraq.
so where the fuck is my bail out of debt card? oh wait, im not corporate america and little people dont count for shit for people. except when corporate america needs my hard earned money.
I am going to say this one thing and then I am done with this tired topic.
IF ANY OF YOU vote for the evil of the Republicans, I can assure you you are are going to hell when you die. What you are supporting is PURE evil. To even think it is right to vote for these people — hell you ARE evil. So maybe hell is the right place for you.
Re: Sukiyumyum – People like you who swallow all the bull shit and go on your merry way are part of the problem. This bail out will do little more than lengthen this crisis!
i'm actually quite annoyed by peoples reactions, here in the UK our government had to help northern rock using tax payers money. yeah it's annoying, but at the same time it saved jobs and saved a bank. if the bank had gone it would have caused so many problems in the fincial markets. people in the USA may not like AIG being bailed out, but let me tell you this for every person who is annoyed you are totally uneducated and thick. if AIG was to suddenly close not only would it leave thousands of people in the US with no jobs, no insurance and basically no future it would throw the international ecomonies into a negative spiral. the world is in recession and we all need to hang in, and be sensible, then things will improve. we can't have large companies going bankcrupt or into liquidation, so please open your eyes, and think
Re: kitten poo – First of all AIG and the government are two seperate entities. Taxpayers money does not go to AIG and other private banking/lending corporations. And saying we only vote for these people because we're racist is ridiculous. I love the gays, believe in abortion and stem cell research. But I also belive that even though we choose sides we are all still individuals. It would be like me saying all democrats are tree hugging morons, who can't handle finances, want to take upper class people's american dream away. Also Barack would be the second president to have never severed his country in the armed services, drafting doging Clinton was the first. So lets not point fingers what the fuck will that help?
Re: kitten poo –
You lost all credibility with post 82.
Re: kitten poo –
Actually, you lost all credibility when I saw that Mahogany is your favorite movie.
Re: JoulesUK – Thank you Joules it only took someone from over the pond to make sense. And kittepoo your a piece of shit to even say all republicans will burn in hell what kind of Nazi mentality is that? Should we be packed in trains and sent to concentration camps. You are no one's judge, jury, or sentencer.
I pay my credit card bills IN FULL, monthly. I don't "max out" my credit card. I don't use my credit card as "money now" but for online bill-paying consolidation. I am financially responsible and hard working. I will save for that 20% down payment while RENTING because, at the time, I can't afford a home.
These people who couldn't pay their mortgages should have read the fine print. Their ignorance and money-management retardation shouldn't be taxpayers' problem.
Lesson here? Don't spend money you don't have. Save, then buy.
I don't have any sympathy for ignorance.
I've seen both films. I understand credit and I don't let it manipulate me or throw me into debt.
You don't blame home owners? I don't either. People who OWN their homes BOUGHT them. These people were paying mortgages they bought into with a low down payment and a FLUCTUATING APR.
They are suckers. And everyone has to pay for their stupidity.
We have to bail them out or the economy tanks - they stole our money, what is it, $205b this week? And it's only Wednesday? The CEO of Lehmen gave himself a $22m bonus…in March! He knew this was coming, they all did. So they steal our cash. And we have no choice but to give it up. Nationalize our fucking banks like communist tools.
.
But, we do have a choice of how to prosecute these bastards. They should be tried for theft and put in jail. Everyone on the boards of Lehmen, Fannie, Freddie, AIG; every CEO of all those subprime lenders, every politician who voted for deregulation of the banks, getting rid of the safeties put in place after the Great Depression - try them and lock them up for fraud. Liquidate their assets and use them to repay the Fed. Donate their McMansions and SUVs, which won't sell, to returning troops. I'm voting Obama, but lets face it, the Dems and Reps let this happen, and they aren't going to punish the guilty the way they deserve to be punished, because they are the guilty. We the people have to do something. Throw them in JAIL!
Re: loribaby1 –
Umm.. Right.
I've got one sentence for you:
OBAMA AND MCCAIN AREN'T THE ONLY PEOPLE RUNNING FOR PRESIDENT!
What's wrong with this country is that people like you see red and blue and don't give another party a chance.
I won't vote for either of them.
Thank God! I'm a single Mom and I have life insurance for myself and my 8yr old kid though AIG. I was really worried.
I'm sorry people but I'm an economics and finance major in college and the government just saved us from going into a HUGE depression. This is the best news we could have asked for. Would you guys like to see a repeat of the stock market crash of 1929? Because that's what would happen if the government didn't bail out AIG. So many businesses have already filed for bankruptcy in the past few months and AIG is the world's largest insurer. Do you people even KNOW the kind of effects that would have on the economy? So quit your whining because this money has been set aside for exactly the purpose it's being used for.
Re: Republican Bitch – Erm…the "hell" reference implies God would be the judge, jury and sentencer - and you know it, calling kittypoo a Nazi is just retarded. And kittypoo, this goes way beyond party lines. Laws have been broken, fraud committed, and our tax dollars stolen. We need an Earthly judge, jury, and jail for this one. These financial guys are smart, they're going to keep us taxpayers arguing about who is Republican and who is Democrat, like it even matters, then get off scot free - unless we stop with this partisan bullshit and put the criminals in jail, use their assets to pay back our massive federal debt to foreign countries, and re-regulate the banking system. Yeah, Joules, you're right - we do have to bailout AIG. This time. And it's up to us to make sure it never happens again.
First of all I think that the government did a good thing. The insurance company, AIG, took premiums and invested a larger portion of the in the subprime mortgages. AIG invested in stocks mainly to make a profit and to keep the average person's premium down. We all know what happened with the housing crisis in this country. AIG is a large shareholder in much of the stock market, if AIG goes under we would have been is a HUGE trouble. The government bailed them out for UP TO 85 Billion. They can borrow this money and repay in up to two years time. The government also has strings attached to this deal. They want control of 79% of the equity of AIG. So there you have it, the government helped to avert somthing that would have caused our already failing economy to really hit rock bottom.
Re: Anonymous – I completely agree, people need to at least research their facts a little before going off on some rampage about how "unfair" this is to all of them. The government just saved your asses people! Make an educated comment at least!
Re: friendlyskies – Calling some a Nazi and saying they have a Nazi mentallity are two differnet things. The fact that Kittinshit wants us all to die and burn in hell because of our right to choose is truly retarted.
x] Perez you keep posting these like it's just an American issue. Everyones stock markets went red red red because all these American companies keep dying. If these major American companies go down the world economy does.
Re: friendlyskies – Re: friendlyskies – Calling some a Nazi and saying they have a Nazi mentallity are two differnet things. The fact that Kittinshit wants us all to die and burn in hell because of our right to choose is truly retarted.
Actually the taxpayers money is not affected. It was a loan by the Fed and AIG has $1.1 in assets. AIG needs time to get rid of some of these assets. This was actually a good move by the Fed and it kept a lot of people in the U.S. from being in serious trouble.