Originally posted by SquelchbelchIf US companies keep asking for taxpayer money like this you guys should just take every industry over.
The 4th largest US securities firm doesn't get a bail-out from Bush & Co.
Is the US Government running out of cash?
(btw it's not a recession)
"Meanwhile, American International Group Inc., the largest insurance company in the world, is asking the U.S. Federal Reserve for emergency funding as it works on a restructuring"
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Originally posted by knightwestBut not in the case of Merrill Lynch bailed-out to the tune of $50 billion?
Bailing out Lehmans?
Every bloody company in trouble would run to the Governement for a handout.
Let nature take its course.
Also, what are your views then with regard to the trillions in financial guarantees given to Fannie May & Freddie Mac by expanding their access to credit and permitting the Treasury to buy shares in the companies if needed?
How the Free-Marketeers must change their tune once the wheels start to fall-off!
By rights, yes these companies should be allowed to fail in the laissez-faire of competition.
Only trouble is, in this case it would mean financial meltdown on a scale that would dwarf even the Great Depression if the Government did not intervene.
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Originally posted by SquelchbelchUm, Merrill Lynch is being bought out by Bank of America, to be paid for with BOA stock. It's not a government bailout, nor is it a corporate bailout. I'm sure BOA has every intention of this purchase working out profitably.
But not in the case of Merrill Lynch bailed-out to the tune of $50 billion?
Also, what are your views then with regard to the trillions in financial guarantees given to Fannie May & Freddie Mac by expanding their access to credit and permitting the Treasury to buy shares in the companies if needed?
How the Free-Marketeers must change their tune on ...[text shortened]... tdown on a scale that would dwarf even the Great Depression if the Government did not intervene.
Fannie and Freddie are quasi-governmental agencies. While I think these two agencies were horribly mismanaged and the government and agency corporate heads should have never allowed themselves to get in such a horrible position, keep in mind that Warren Buffett has stated that the Fannie/Freddie situation was handled in the best way possible, given the present conditions.
Oh, and BTW, Lehman stock is down to 21 cents per share at the moment. What a deal, what a deal! 😉
Originally posted by uzlessHooray!! Now what about AIG? You know, there is no end to this stuff.
Merrrill was bought buy a private company called Bank of America (not the US Central Bank)
There was no bailout here...at least no details about gov't financing have been provided, yet.
Originally posted by whodeyEventually, there will be an end to the credit unwinding (sub-prime mortgages, derivatives, etc.), but, yeah, it's painful while it's happening. I have a fund that owns a little AIG (a very small position), unless it's been sold recently and not yet reported in the quarterly reports. I wouldn't want AIG to be bailed out either. If they go under and I lose a little money, hey, that's the breaks.
Hooray!! Now what about AIG? You know, there is no end to this stuff.
Originally posted by der schwarze RitterIt's not.
Why is it the responsibility of the government to bail out a private company?
The point here is that Lehmans tried to get bailed out. Just like Bear Stearns...and now AIG.
I love how your big corporations say "Get the government out of our lives, give us less regualtion!" and then the moment things go bad because of their own stupidity, they come running back to the taxpayer hat in hand.
Originally posted by uzlessMaybe there is a need for less government intervention.
It's not.
The point here is that Lehmans tried to get bailed out. Just like Bear Stearns...and now AIG.
I love how your big corporations say "Get the government out of our lives, give us less regualtion!" and then the moment things go bad because of their own stupidity, they come running back to the taxpayer hat in hand.
At least, that's how some will try to spin it, I'm sure.
Originally posted by knightwestI agreed (for once), bailing out all companies would not be good and devalue the dollar more so ......nature is the best course.....but how many more bumps on the road
Bailing out Lehmans?
Every bloody company in trouble would run to the Governement for a handout.
Let nature take its course.
Originally posted by Mad RookWhat fund do you have ? Type ?
Eventually, there will be an end to the credit unwinding (sub-prime mortgages, derivatives, etc.), but, yeah, it's painful while it's happening. I have a fund that owns a little AIG (a very small position), unless it's been sold recently and not yet reported in the quarterly reports. I wouldn't want AIG to be bailed out either. If they go under and I lose a little money, hey, that's the breaks.