NOT AGAIN! Feds Bailout AIG for $85 BILLION

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  • PornMogul
    Confirmed User
    • May 2007
    • 1495

    #1

    NOT AGAIN! Feds Bailout AIG for $85 BILLION

    Breaking news: The Federal Reserve says it is taking over crumbling insurance giant AIG in an $85 billion rescue plan.

    Cnn.com

    NOT AGAIN!!
  • xmas13
    Confirmed User
    • Dec 2004
    • 5176

    #2
    ICQ 557504926

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    • Pornstuck
      So Fucking Banned
      • Sep 2008
      • 67

      #3
      So what's the reality of these bank takeovers are like 34% of american's losing all but 100k of their savings?

      Comment

      • Lane
        Will code for food...
        • Apr 2001
        • 8496

        #4
        shareholders are losing big

        Comment

        • GatorB
          The Demon & 12clicks
          • Oct 2001
          • 18208

          #5
          Originally posted by PornMogul
          Breaking news: The Federal Reserve says it is taking over crumbling insurance giant AIG in an $85 billion rescue plan.

          Cnn.com

          NOT AGAIN!!
          technically it's a loan. To me a bailout is giving someone money and not expecting it back. if I loan someone money I expect to be paid back.

          Comment

          • DateDoc
            Outside looking in.
            • Feb 2005
            • 14243

            #6
            This is a bridge loan to get AIG enough time to sell some assets and get some cash in the bank. AIG has a trillion dollars in assets and while they fucked up through bad mgmt to end up with not enough cash on hand this loan will get paid back and AIG will move forward.

            Comment

            • ADL Colin
              Too lazy to set a custom title
              • Feb 2001
              • 11929

              #7
              They called me for a loan but I could only get half the money together.


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              • GetSCORECash
                Confirmed User
                • Mar 2008
                • 5527

                #8
                Originally posted by DateDoc
                This is a bridge loan to get AIG enough time to sell some assets and get some cash in the bank. AIG has a trillion dollars in assets and while they fucked up through bad mgmt to end up with not enough cash on hand this loan will get paid back and AIG will move forward.
                3-month Libor plus 8.5%, which totals 11.31% at today's rates... Not bad. Looks like the Fed will make a good profit on 85 billion.
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                • ADL Colin
                  Too lazy to set a custom title
                  • Feb 2001
                  • 11929

                  #9
                  Originally posted by SCORE-Cash
                  3-month Libor plus 8.5%, which totals 11.31% at today's rates... Not bad. Looks like the Fed will make a good profit on 85 billion.
                  And yet another problem. So many ARMs based on Libor.

                  "The London interbank offered rate, or Libor, that financial institutions charge each other for loans soared 3.33 percentage points to 6.44 percent today, according to the British Bankers' Association. The increase was the biggest in its history. The rate was as low as 2.07 percent in June. "


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                  • NickPapageorgio
                    Confirmed User
                    • Apr 2004
                    • 8323

                    #10
                    I'll scratch your back, but you scratch mine with interest. ;)

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                    • Darkland
                      Confirmed User
                      • May 2002
                      • 1488

                      #11
                      Originally posted by GatorB
                      technically it's a loan. To me a bailout is giving someone money and not expecting it back. if I loan someone money I expect to be paid back.
                      Every bit of currency that comes OUT of the Federal Reserve is a loan WITH interest waiting to be paid back. They are one of the big reasons we are so far in debt to begin with and them bailing these people out is just another powerplay to stabilize their already ironclad grip on our country.


                      "The towers are gone now, reduced to bloody rubble, along with all hopes for Peace in Our Time, in the United States or any other country. Make no mistake about it: We are At War now -- with somebody -- and we will stay At War with that mysterious Enemy for the rest of our lives." H.S.T. 09/12/01

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                      • UniversalPassLorence
                        Confirmed User
                        • Dec 2004
                        • 3721

                        #12
                        Stocks will probably be up tomorrow at the opening, but who knows what will happen during the day


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                        • pocketkangaroo
                          Confirmed User
                          • Jan 2005
                          • 8452

                          #13
                          Originally posted by GatorB
                          technically it's a loan. To me a bailout is giving someone money and not expecting it back. if I loan someone money I expect to be paid back.
                          A loan to a failing company that no other financial institute would go near. We'll see if we ever get it back.

                          Nonetheless, our tax dollars should not be used like this. It gives AIG a huge advantage over their competitors. It sends the signal to other businesses that if their risks don't work out, the government will fix it. This concept of free market for profits but socialize losses is not something that can continue.

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                          • aico
                            Moo Moo Cow
                            • Mar 2004
                            • 14748

                            #14
                            Welcome to the Machine... All your monies belong to us.

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                            • RTP
                              aka Jimmy James
                              • Nov 2006
                              • 1335

                              #15
                              Failure of AIG is not an option at this point, the system would buckle like it would have Bear Stearns went down, sad to say but they had too
                              Jimmy James ATKingdom/AMK Empire Since 1996 - My Movies
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                              • NickPapageorgio
                                Confirmed User
                                • Apr 2004
                                • 8323

                                #16
                                Originally posted by Darkland
                                Every bit of currency that comes OUT of the Federal Reserve is a loan WITH interest waiting to be paid back. They are one of the big reasons we are so far in debt to begin with and them bailing these people out is just another powerplay to stabilize their already ironclad grip on our country.
                                Exactly. The Fed is sitting back rubbing it's hands thinking about how it's got another bunch in their back pockets. "Oh...late on the rent are we lad? Well...that's not a problem...but see...we need this little political favor done..."

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                                • Kudles
                                  Confirmed User
                                  • Feb 2003
                                  • 5477

                                  #17
                                  Oh geez!!!!
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