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AIG begs Fed for Loan

Discussion in 'Political Discussion' started by PatriotsReign, Sep 16, 2008.

  1. PatriotsReign

    PatriotsReign Rookie

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    AIG Fights For Survival

    With time running out on its finances, American International Group continues to plead for assistance in a meeting at the Federal Reserve Bank of New York.

    Scrambling to raise as much as $75 billion in capital, the giant insurer needs either a bridge loan from the Fed itself or from a lending pool organized by a consortium of banks.

    AIG (nyse: AIG - news - people ), with 103,000 employees and more than $1 trillion of assets, is more than an insurance company. It is arguably the biggest player in the financial services industry; a collapse, many fear, could be catastrophic.


    AIG Fights For Survival - Forbes.com

    Cry me a river...another mega-corp "begging" for our money:rolleyes:

    The good 'ol USA, Inc.
  2. IcyPatriot

    IcyPatriot ------------- PatsFans.com Supporter

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    #87 Jersey

    Let the weak ones fold ... we'll survive even if we go into a recession. Recession here and there and sloppy companies going out of business are natural events that should have no interference.
  3. Run DMC

    Run DMC Rookie

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    I hope Hank Greenberg is losing his ass as his AIG holdings dwindle down to zero. Couldn't happen to a nicer thieving prick.
  4. Holy Diver

    Holy Diver Rookie

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    Not sure if thats the attitude I would take, from those I know who work in this sector, this is not a good sign....Infact the keep using the phrase "We're fukced"

    I'm sure we will 'survive' but.....this $h!tstorm of financial collapse keeps getting worse.

    After rereading your post......I hope you are being sarcastic, if not......I applaud your optomism when the ship seems to be sinking....Stay up, playah.
  5. PatriotsReign

    PatriotsReign Rookie

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    It has been the American way since the revolution. Survival of the fittest...rake out the dead weeds to let the grass grow. We have to stay positive and believe in our ingenuity and work ethic.

    We've had the highest rate of productivity for decades...we'll make this work HD!
  6. STFarmy

    STFarmy Rookie

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    Giving loans to bail out incompetent/corrupt financial institutions seems to just make them more brazen to be incompentent/corrupt. We can't legislate idiocy. The question is, if we let them fail, how negatively will it affect us overall? Hopefully there's some solutions we can think without allowing their ineptitude to go unpunished.
  7. Run DMC

    Run DMC Rookie

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    It's not "ineptitude". Call it by it's proper name, GREED!
  8. IcyPatriot

    IcyPatriot ------------- PatsFans.com Supporter

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    #87 Jersey

    i don't have the software to do it but i know how it works. Take the value of houses @ 1990 or so and increase the value annually by the historic average. Go all the way to 2008. Take the value of housing say 6 months or so ago and subtract what the value should be with what the value was 6 months ago.

    All that money ... the difference has artificially been keeping the economy going ... all paper, all loans, all credit cards ... all fake. Bush is happy because he looks good and he can keep his war going so he's not going to change anything.

    Suddenly the price of oil shoots through the roof ... raising the price of everything ... economy goes south ... people who were barely paying their mortgage can't pay them anymore. the houses become worth less than the amount of the mortgage so people just lock the door and walk away.

    Housing disaster, all the greedy people who's portfolio's were too much tied into equity and not enough in Treasury bonds and conservative investment vehicles are screwed ... and that includes the brokerage houses who were not liquid enough. Nobody wanted conservative investment vehicles because the Treasury rate is too low for their greed.

    they deserve their fate, the economy will be stronger for their demise. these people through their greed screw up our economy over and over ... we'll be better when their greed is out of our lives.
  9. IcyPatriot

    IcyPatriot ------------- PatsFans.com Supporter

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    #87 Jersey

    I didn't want to make this part of my last post.

    We used to grow and hunt for our own food, build our own houses and make our own clothes. We used to teach our own children and we used to look out for our neighbor without Obama or McCain asking us to do so.

    Greed has made society less human ... less social ... less caring. We grew up being taught to save our money and we taught our children to save money. banks don't pay crap for saving money anymore so the greedy people look for where they can make a buck and others figure why save money I'll just spend it. Our government does not encourage saving money ... it penalizes us. How about not taxing interest earned in banks up to a yearly limit ... say $10,000 - $25,000 tax free? More people would save money which would lessen stress on the entire system.

    We could use a moderate recession just to get people more grounded ... more human again. I thought 9/11 would accomplish that but it did not last too long.
  10. Holy Diver

    Holy Diver Rookie

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    I agree with that 100%.....

    We we told to spend money, travel, and even got a tax rebate after 9-11. I've stated before that I am not a financial expert, but none of that madre sense to me. We are programmed to spend money and collect debt, buy things we can't afford, and want more of it.

    It took me a while to journey to a debt free life, but I did. If I don't have the money for it...I don't buy it. Its a simple philosophy.

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