Fed bails out AIG, $85 billion to avoid the worst financial collapse in history..

Bloomberg.com: Worldwide

I swear.. does anyone else think we're living in the f*cking twilight zone? I swear, this is a dream... First, Fannie and Freddie- Merrill gets bought out by Bank of America, Lehman Bros. files bankruptcy.. now this.. (edit: the U.S. sector of Lehman has now been bought by Barclays)

Add to that the article on the front page of yahoo today..
Top Economist Americans Should Worry About Bank Deposits if Congress Doesn't Act: Tech Ticker, Yahoo! Finance

"That "run" could accelerate as people realize the FDIC fund has about $50 billion to "insure" about $1 trillion in assets at the nation's financial institutions, says Roubini. "They're going to run out of money" unless Congress acts soon to recapitalize the FDIC."
(oh but don't worry, "The banking system is safe and sound")



I really don't think people understand how f*cking bad things are.. all the dominoes are set.. and the first one is just tittering back and forth..

They're just rushing around trying to hold up a falling building with twigs..

hell yea man, the goverment is currpt, shit goin down in our life time look out for it

Don't kid yourself.. all these bailouts have been just printed money out of thin air- you didn't pay for it from your taxes.. you'll pay for it in inflation..

HotNSexyMILF said:

Don't kid yourself.. all these bailouts have been just printed money out of thin air- you didn't pay for it from your taxes.. you'll pay for it in inflation..

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oh thank god!

The List:
Bear Sterns
Lehman Brothers
Fannie May
Freddie Mac
Indymac
Merrill Lynch
AIG
& at least 20 other businesses well known have gone bankrupt, been bought out(think of that big beer company InBev bought), downsized & still downsizing, raising prices & so on & so on. All this has happened in about six months. Think it's bad now?
Just wait a little bit longer it's gonna get real exciting in the world.

Dfunk said:

The List:
Bear Sterns
Lehman Brothers
Fannie May
Freddie Mac
Indymac
Merrill Lynch
AIG
& at least 20 other businesses well known have gone bankrupt, been bought out(think of that big beer company InBev bought), downsized & still downsizing, raising prices & so on & so on. All this has happened in about six months. Think it's bad now?
Just wait a little bit longer it's gonna get real exciting in the world.

Click to expand...

my thoughts exactly..

just watching it acceleratingly more and more..

AIG is an insurance company. That makes me have a couple of questions.

What happens if people have a claim? are they just SOL?

Where did all the money from those insurance premiums go to? Do their CEO's just suck everybit of profits off the top of the company and keep it?

Shouldn't the CEO's start by emptying their own bank accounts back into the company first? I just don't think it's right for the rest of us to take it in the ass while they still lead their wealthy lifestyles.

On a side note, this country is so fucked.

I think how AIG happened the dumbasses borrowed money from themselves. Fraud!!!

Maybe this is the shake up we need to get out the corruption. This is just way wrong now & the President jackass has been asleep at wheel for long long time. Thats another reason to change from republican to democrat until we have a better choice!!!!! I am off my soap box. wheww i feel better thanks

All of Washington is asleep at the wheel. They only pay attention to their own bank accounts.

misshestermoffitt said:

AIG is an insurance company. That makes me have a couple of questions.

What happens if people have a claim? are they just SOL?

Where did all the money from those insurance premiums go to? Do their CEO's just suck everybit of profits off the top of the company and keep it?

Shouldn't the CEO's start by emptying their own bank accounts back into the company first? I just don't think it's right for the rest of us to take it in the ass while they still lead their wealthy lifestyles.

On a side note, this country is so fucked.

Click to expand...

this is the main reason that they gave up the 85 billion. The effects of AIG folding would have been felt much farther than anyone expects. They insure half the world, houses...homes...business...etc.
As for CEO and exec. stafff, they have all been replaced and the government now controls 80 percent of the company. The structure That of course is only if they can turn the company around...big if.

BTW all stockholders are out of luck as well which means the hundreds of millions that the CEO used to be worth are just pieces of paper now.

HotNSexyMILF said:

Don't kid yourself.. all these bailouts have been just printed money out of thin air- you didn't pay for it from your taxes.. you'll pay for it in inflation..

Click to expand...

GReat Point!!

That is the gonna be the real killer and nobody is even mentioning it!

Oops I meant to say that the structure of the deal could actually make money for the country...if they are able to turn the company around and make it profitable again.

Wow, wouldn't this be a great time to legalize weed? Whole new cash crop, entire new industry. It could do a lot to help. This country is going down hill so fast that it's actually making that whistling sound.

Daves not here man! said:

this is the main reason that they gave up the 85 billion. The effects of AIG folding would have been felt much farther than anyone expects. They insure half the world, houses...homes...business...etc.
As for CEO and exec. stafff, they have all been replaced and the government now controls 80 percent of the company. The structure That of course is only if they can turn the company around...big if.

BTW all stockholders are out of luck as well which means the hundreds of millions that the CEO used to be worth are just pieces of paper now.

Click to expand...

Dude the big ceo's will be getting their exiting "packages" worth multi millions and the working class will be stuck with nothing except trying to rebuild this country again. oops back on the soap box I have never been soooo upset with our country now and our politcians.

BTW all stockholders are out of luck as well which means the hundreds of millions that the CEO used to be worth are just pieces of paper now.
__________________
Does anyone believe this? The CEOs got theirs before they let it go south, you can "Take that to the Bank"

HotNSexyMILF said:

Don't kid yourself.. all these bailouts have been just printed money out of thin air- you didn't pay for it from your taxes.. you'll pay for it in inflation..

Click to expand...

Exactly.

Remember these names: Senator Chris Dodd, Senator B. Obama, Senator Barney Frank, Senator Joe Biden. These are folks who received the largest amount of BRIBE money from the financial institutions as payment for blocking legislation that would have placed regulations on these investment houses to avoid this crash.

By the way ... in case you didn't notice, they are all Demobats, the very same people elected two years ago on the promise that they would clean up the corruption.

Med ... how's your union pension doing?

Vi

medicineman said:

BTW all stockholders are out of luck as well which means the hundreds of millions that the CEO used to be worth are just pieces of paper now.
__________________
Does anyone believe this? The CEOs got theirs before they let it go south, you can "Take that to the Bank"

Click to expand...

actually they all hold huge amounts of AIG stock and they lost millions, ofcoarse they are still rich tho


the reason for all this shit is clinton wanted to increase home ownership and boy he did

letting people who cant afford it buy a home, sound nice and caring doesnt it???


well guess what this is what happens

and now these fucks want us to bail them out?


this is the governments fault for irressonsibly encouraging home ownership

guess it looked good on clintons resume, cost us $85 Billion dollars


this shit has been in the making for 20 years


i piss on these fucking turds

Yeah, what the hell ... let's turn our entire medical sytem over to them to run. They might as well completly screw that up too.

Vi

Seriously.. just like watching the Great Depression played out again....

The Federal Reserve is at fault.. as always...