michal1980 said:IMHO, anyone claming to be a conservativ]e, and is for these massive bailouts. Should have there conservative title taken away.Only social conservatives have voices now.

DavidScubadiver said:nycll said:Hank G also said AIG was a national treasure. Whatever works I guess.With warrants for the government to own 80% of AIG, isn't it in effect, a national treasure? National money pit?

ppatin said:DavidScubadiver said:nycll said:Hank G also said AIG was a national treasure. Whatever works I guess.With warrants for the government to own 80% of AIG, isn't it in effect, a national treasure?

Isn't a national treasure supposed to have value?

shhhh! don't burst the new bubble of national treasures!

Something ELSE to simmer on...

Guess how much MONEY the people in charge made while making all these Terrible decisions and SCREWING all this crap up?

We are bailing out Millionaires who were purposely ignorant in some cases.

Weeeeeeeeeeeeee!

FatFreddie said:Hank Greenburg just said, "Your future and your children's future depends upon our ability to make the financial system sound."

Translation: YOU are going to pay for all our worthless toxic paper that cannot be sold to anyone else because that market is dead. UFB in your face racketeering. Now they are going to try to herd all our moron congresspeople into a stampede to hand over another trillion dollars of our money before they leave office.

CALL OR WRITE YOUR SENATORS AND REPRESENTATIVE!

U.S. Senators Contact List

Find Your Representative

I sent the following message which is not perfectly written and has too much emotion in it. If someone wants to adjust it or provide us with a more lucid letter to write our reps, please do so!

----------

Hello,

As one of your constituents, I'd like to express my grave concern over the government's handling of our current financial issues. Why would we use taxpayer dollars to bail out obviously poor financial decisions made by supposed financial experts? This is a slap in the face to responsible citizens who practice sound financial management and save for the future. We need to be willing to go through economic troubles in order to purge privately made decisions.

Executives continued to receive their multi-million dollar compensation even though their institutions performed horribly. Now, I am having to pay for the mistakes of financial "experts" and those individuals who spend irrationally, even though I am innocent.

I hope that you will vote for accountability, and not burden those of us who are responsible with the negative outcomes of others' poor decisions. Please do not support bail outs like we are seeing here. You have to take downturns in stride with upturns, and sometimes these downturns will be severe.

michal1980 said:Higher home prices (we cant let them fall in value)

Plus harder to get loans/ higher interest rates. (You want to borrow money, LOL you can but it will cost you)leave it to michal to post that two competing interest will simulateneously occur. If interest rates go up, that drives home prices down as loans get more expensive. If loans are harder to get, that means fewer people can buy homes, demand falls, prices go down. But magically, you state prices will go up.

get a clue.

We don't really live in a capitalistic economy. Its capitalism for the poor/middle class & Socialism for the Rich.

"The government is likely to turn a nice profit on the AIG deal, at an 11.5% interest rate"

Yeah right, when was the last time the government made any money?

Remember Savings & Loan "The ultimate cost of the crisis is estimated to have totaled around USD$160.1 billion, about $124.6 billion of which was directly paid for by the U.S. government—that is, the U.S. taxpayer—which contributed to the large budget deficits of the early 1990s. - A similar "fund" was setup then - but its much bigger now"

http://www.gao.gov/archive/1996/ai96123.pdf

arun44445 said:We don't really live in a capitalistic economy. Its capitalism for the poor/middle class & Socialism for the Rich.
Some people like to call it trickle-down economic theory.

"Capitalism without failure is like Christianity without Hell." - Warren E. Buffett

Per Suze Orman, for what it's worth:

" King: Republicans on the Hill today are blasting the Treasury Department and Federal Reserve for orchestrating that $85 billion bailout of AIG. What do you think of that?

Orman: I think that's a great thing for them to yell about. Of course, we had to do that. What is the matter with them? Don't they understand? I get that the taxpayers are going to have to pay for it but do you have any idea -- do they have an idea -- what would have happened if that institution had gone down? That was a massive institution within 130 countries with about 113,000 employees in every aspect all over the world, so I don't know. I'm personally grateful that they bailed them out. It was a deal. The government is going to make a serious sum of money on that. The taxpayers will, in the end, make money -- 80 percent of this company for $85 billion for one of the biggest insurance company out there. Again, I have to say that was one of the best business deals I've ever seen in my life."