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MANAGING PARTNER
R.G. BAKER & SOLICITORS
415 ROYAL LIVER BUILDING,
PIER HEAD, LIVERPOOL L3 1LL,
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On behalf of the T... |
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Johnnie | AIG gets more of $40 billion more of our money-What is this crooked company doing? |
http://biz.yahoo.com/ap/081126/aig_investment.html |
 |
 
Ron Akia
|
They're paying their day to day operations including bonuses with your tax dollars. Once the government can't afford to pay anymore bailout funds they, and others, will fail and declare bankruptcy.
Guess who will be left holding the bag? You and your future descendants. |
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radioplug14
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Well you really have to understand why AIG is getting so much money from an economic standpoint. When I had a lecture by one of my economics professors, he basically laid out how the economy works - dealing with the economic collapse.
A bank gives a loan (mortgage) to someone for their house. Ideally, they shouldn't get a mortgage because they have bad credit, but it is still given anyway. This someone eventually defaults on their mortgage, they are not able to pay it. The bank forecloses on the house to capture some of the lost revenue. AIG offers insurance to the banks for defaulted mortgages, etc.
So actually, AIG's only issue is the fact that they're insuring banks that screwed themselves over. Then the banks come to AIG asking for cash because of their insurance policy. Things like this wouldn't have happened 10 years ago. Deregulation basically sunk AIG, but without them knowing.
Now, obviously all of us think that those big executive parties are absolutely unnecessary, especially when they're asking for a bailout. However, you cannot place the blame on AIG. And we absolutely cannot consider not giving AIG a bailout. AIG is the world's largest insurer. How do you think we would fair in the world without insurance? Exactly! No car insurance, no home insurance, no life insurance. Out of all of the companies that are getting bailouts, this is the one company that ACTUALLY affects main street. But people wouldn't understand that until they went belly up and couldn't get claims on insurance.
The point is, the problem with AIG was just one sector of its entire company that essentially drained its funds for all. Look at the banks who gave mortgages to people who couldn't afford it. Look at the 10 idiots in AIG that couldn't see the fact that banks were giving out these mortgages. But that's as far as the blame can go.
As I said earlier, my economics professor told us this in great detail because I once thought exactly like you did. But it has become apparent to me that this is absolutely necessary. |
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NERDGASM
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There CEO is only getting paid one dollar a year now to cut down on costs. |
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zeldar
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PARTYING LIKE ROCK STARS.
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Happy Enzyme
 |
I just mailed the company my child's weekly milk money. It is a matter of priorities. |
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Obamabotication Nation
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They should be absolved and everyone fired. |
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sophist
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The US is using AIG to funnel money to the foreign investors that bought our bogus paper. We have to redeem ourselves somehow or they will never invest in us in the future. Our system unintentionally marketed worthless paper to them that was generated by the surge fund operatives. Now we need to buy it back and the sad thing is that because the funds were not regulated, no one will be held accountable for it. This will of course change in the near future and many of the schemes they participated in will disappear. |
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