Ping!
Expect more of this.
Off topic, the term “black hole” will be changed to something like “dense dot”, mark my words.
No where in this article does the writer lay any blame with Congress or the Bush administration for implementing this socialist bail out plan. If they had let AIG wither on the vine then the economy would have eliminated an inefficient group of people who would not be asking for more. This socialist thinking only creates more takers which cannot be sustained over the long term.
Just like the real thing, no bigger, just the continual sucking of taxpayers’ cash and kids’ futures into the unknown.
“They compared the loan’s terms with the 5 per cent interest rate paid by the banks that recently sold preferred shares to the government.”
Which is another piece of trash. We, the taxpayers, got approximatley half the deal that the Brits or Buffett got.
It shames me that this gargage is going on under a Republican administration. Every right thinking person knew that AIG was a black hole. I say no more money - the Feds should seize their assets and parcel out the remains. No compensation for the upper management and certainly no dollars for the shareholders. The bondholders simply have to stand in line like the rest (or go to the Plan B proposal of turning those bond holders into equity holders of the company, after we get repaid of course.
This is insane. Industry needs to fail then self correct.
Printing more money which is becoming worthless, artifically inflating the economy with rate cuts, housing bubble etc. Plans to overtax the nation when noone has money. I really see hard times ahead. I think things are going to get worse. Tell Prozac Pelosi no.
Put those Dastards in jail and auction the companys assets.
I’m thinkin’ that if AIG wants to re-negotiate it’s gonna have to improve its FICO number.
Now that the banking system has been stabilized, it’s time to let AIG go under.
Dude. Where's the party this time.
they didn’t want maurice greenberg back at the company he built to help out.
Is this part of the “spread the wealth” agenda?
Looks like they need more cash for the Christmas bonuses.
Its sad when 90 percent of Americans see their own government vote against them. But much sadder when the American people lay down and take it.
We need a national campaign where everyone sends a bucket to New York City to help the Bailout. Think what 100 million buckets would piling up on Wallstreet.
Man walks into pawn broker. He says to the person behind the counter, “You know that watch I brought in two weeks ago? I know you lent me $85, but now I need another $50. And I will tell you why you will give it to me. I have a gun with me. I will blow my brains out here, right now. With your nice carpet, I guarantee it will cost you more than $50 to clean up your store. And that's before we get into the cost of keeping your store closed while you clean my grey matter off your walls and what my suicide might do to your store's reputation.”
Worth repeating.... outstanding.......this is the strategy banks worldwide are now using.
We need to shoot the gentleman in this example in the knee, put it on video and keep our door open for business with a big sign that says, “ Don't mind the guy screaming and bleeding to death - he tried to rob US....TWICE, so lets show him and his kind, how we treat scum sucking banking vipers and thieves.....WE ARE OPEN FOR BIZ!”
Write your Congressman and say NO. Not with my dollars.