U.S. Government bails out AIG with $85 billion loan For the second time this month, the U.S. government put taxpayer money on the hook to rescue a private financial company, saying the failure of the huge insurer American International Group Inc. would further disrupt markets and threaten the already fragiCommentsview comments in forum Page 1 You need to be a member of CKA and be logged into the site, to comment on news. |
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so much for free market capitalism, even better its a republican administration
running around bailing out all these private companies..
what a mess, and as usual the big boys are safe.
It's only paper folks.
wow, the US taxpayer is going to own half the financial markets soon..
so much for free market capitalism, even better its a republican administration
running around bailing out all these private companies..
what a mess, and as usual the big boys are safe.
corporate.gif
wow, the US taxpayer is going to own half the financial markets soon..
so much for free market capitalism, even better its a republican administration
running around bailing out all these private companies..
what a mess, and as usual the big boys are safe.
Actually the Democratic Congress has more to do with this. The economic downturn of the economy started about 2006, right when the Democrats took control, and it kept tumbling down. Remember, these bailouts are basically needed to pass, and the administration just signs it.
Though I agree with most of it, these corporations fucked up, and they SHOULD be punished. However, they can't be, because unlike GM or Ford, these companies actually own the shit that makes up the United States. Mortgages, bank deposits, commercial banking, etc etc. These companies go, all these other smaller businesses would go as their assets go bye bye
Actually the Democratic Congress has more to do with this. The economic downturn of the economy started about 2006, right when the Democrats took control, and it kept tumbling down. Remember, these bailouts are basically needed to pass, and the administration just signs it.
Though I agree with most of it, these corporations fucked up, and they SHOULD be punished. However, they can't be, because unlike GM or Ford, these companies actually own the shit that makes up the United States. Mortgages, bank deposits, commercial banking, etc etc. These companies go, all these other smaller businesses would go as their assets go bye bye
It's a house of cards.. pull the wrong one and the U.S. Economy is fucked.
In one month the United States has become more of a Socialist country than Canada, with the government owning 2 new mega coporations.
Actually the Democratic Congress has more to do with this. The economic downturn of the economy started about 2006, right when the Democrats took control, and it kept tumbling down. Remember, these bailouts are basically needed to pass, and the administration just signs it.
Though I agree with most of it, these corporations fucked up, and they SHOULD be punished. However, they can't be, because unlike GM or Ford, these companies actually own the shit that makes up the United States. Mortgages, bank deposits, commercial banking, etc etc. These companies go, all these other smaller businesses would go as their assets go bye bye
It's a house of cards.. pull the wrong one and the U.S. Economy is fucked.
In one month the United States has become more of a Socialist country than Canada, with the government owning 2 new mega coporations.
Bah, Fannie Mae and Freddie Mac were basically government run. Seriously, the Government fired their executives. Usually they retire or are removed by shareholders.
Second, Canada still has big ass corporations too. Hydro, Canadian Wheat Board, stuff like that. But yeah, the US might be slowly sliding into a very short depression where the next President needs to beat out the corruption in these companies. However, just like in the Great Depression, this wasn't just the bank's fault, it is ours too. We all fucked up, government, corporation, and individually. The only difference is now is that the government DOES do bailouts so the US economy, and the world economy in general doesn't topple on one another. It's a scary day to see that GM or Ford sounds more stable than these guys
printing new currency simply devalues existing currency.
Instead of runaway inflation, you get a gradual lowering
of the "Western" standard of living. That's what our
kids,grandkids, and future generations face.
It's not that "the Third World" will ever catch up to the
standard of living we enjoyed 1946-1996...it's us coming
down off the "Dream". Party over.
I am sick and tired of corruption and government bailouts. This is just ridiculous.
He also predicted that Atlantis would rise from the ocean.
However, just like in the Great Depression, this wasn't just the bank's fault, it is ours too. We all fucked up, government, corporation, and individually.
*I* Fucked up? Pardon? *I* don't carry any more credit that I can pay off in 30 days. *I* don't take out loans I cannot afford to pay back. *I* did not authorize $750k, 40 year, no down payment, interest only Mortgages to part time burger flippers.
The US government authorized such things, and they should have to deal with the consequences. It will suck, just like the great depression, but apparently the lessons learnt from that period in financial history were not well heeded.
I saw the writing on the wall two years ago. The first to go would be the Mortgage holders. The second to go would be the companies that insured these risky mortgages. The third will be the original issuers of the ABCP. . . if there is any justice at least.