Question: Why is it that the press, paper and internet not reporting that AIG is selling viable assets to come to some form of solvency? All we hear is they want more money which of course the good ole boy network is more then happy to comply, with a wink and a nod 🙁 AIG as stated is a multinational corporation that does business in over 100 countries and blah de blah. It would have been cheaper to buy the company then to now throw katrillions at them hoping against hope that their fiscal malefesance suddenly morphs into fiscal responsibility. That is like giving alcohol and the keys to your car to a bunch of teen boys 🙁
Originally posted by KatonahYes, especially since they took the last xxx billion dollars and gave their people huge bonuses, huge severance packages and had a huge celebration somewhere out of the country, and are still not on the hook for where that money went or how it was spent.
Question: Why is it that the press, paper and internet not reporting that AIG is selling viable assets to come to some form of solvency? All we hear is they want more money which of course the good ole boy network is more then happy to comply, with a wink and a nod 🙁 AIG as stated is a multinational corporation that does business in over 100 countries and b ...[text shortened]... responsibility. That is like giving alcohol and the keys to your car to a bunch of teen boys 🙁
I don't care if they sink into the ocean, never to be heard from again (although prison sounds even better)... hopefully BEFORE we give them another xxx billion dollars.
AIG, list some banks and Madoff. Guilty of a Ponzi scheme of stealing 50 Billion, 50 with a capital B and is on house arrest in his multi million dollar mansion. Do you also suspect something wrong here? You and I could knock off a local 7-11 and get 30 years and this )&*(^&*^^&#(&* steals the life of thousands and ??? He must have some dirt on some powerful people! As for AIG the government are a bunch of fools. If a depression hits this country may I remind the Gov's that people have guns now. I will not be a bread line but a blood line 🙁
Originally posted by KatonahNo educated answers yet. Still waiting😴
AIG, list some banks and Madoff. Guilty of a Ponzi scheme of stealing 50 Billion, 50 with a capital B and is on house arrest in his multi million dollar mansion. Do you also suspect something wrong here? You and I could knock off a local 7-11 and get 30 years and this )&*(^&*^^&#(&* steals the life of thousands and ??? He must have some dirt on some powerful ...[text shortened]... ay I remind the Gov's that people have guns now. I will not be a bread line but a blood line 🙁
Originally posted by wormwoodNaw, but I'm willing to bet the 666 mark is coming soon to a government near you.
if AIG goes bankrupt?
well, surely the evil evolution will promptly corrupt the innocent creationists, who will instantly flood the streets in an immoral wave of godless frenzy of sodomy and murderous rage.
KJ
Originally posted by uzlessAIG is the counter party on most of the Credit Default Swaps out there (CDS).
Who here knows and can provide a good answer?
A CDS is a form of derivative and is colloquially referred to as "bond insurance"
It isn't actually insurance and AIG doesn't have to carry these as liabilities like other insurance contracts.
A large part of the initial government cash infusion into AIG was paid out immediately to holders of "bond insurance" on Lehman Bros. bonds.
Paulson felt it was essential to keep these Credit Default Swaps in place. The argument was that the ailing credit markets would suffer further if they were removed.
CDS's exist on almost every bond issued, including those issued by GM, Ford, Fannie, etc.
Geithner and the new administration have continued the practice of giving money to AIG without any real debate. Talk show hosts whine and moan, but you don't see any real debate out of congress.
Originally posted by Red NightSo really, AIG's CDSs are a vehicle for reducing the risk in individual bonds... ...or at least a vehicle for concentrating that risk in one entity (AIG).
AIG is the counter party on most of the Credit Default Swaps out there (CDS).
A CDS is a form of derivative and is colloquially referred to as "bond insurance"
It isn't actually insurance and AIG doesn't have to carry these as liabilities like other insurance contracts.
A large part of the initial government cash infusion into AIG was paid out imm ...[text shortened]... ate. Talk show hosts whine and moan, but you don't see any real debate out of congress.
That still leaves the open question, what happens if AIG goes away? What happens if CDSs are banned entirely? Bondholders have to shoulder the risk of their investments the same as stockholders. People start making better investments, maybe.... Is this oversimplifying it? I'll be the first to admit that I know next to nothing about this. I'm at a loss as to why we are giving hundreds of billions of dollars to these crooks.
Originally posted by leisurelyslothYeh, at least you can see the death blow coming rather than being secretly bankrupted and starved to death by some sinister invisible enemy that you are legally obliged to do business with! I remember when you used to be able to get paid in cash (yeh, real money! who'd have believed it) Now of course all your pay HAS to be paid into a bank. Errr, why? Personally i've never trusted the theiving little leaches. Why the hell should my money be held by these people anyway? They make money off the backs of the entire population while charging them through the nose for the 'service'. Not content with this licence to print money they effectively burn thousands of people retirement savings just for good measure. They shouldn't get a penny for what they've collectively done. Taking public money to increase their market share by buying failing banks is just OUTRAGEOUS! I claimed the first dole check of my life the other day. I've never EVER been out of work like this before. What little savings i had are all gone, i'm unemployed and really very very angry! It's about time people told these crooks where to go! 😠
That doesn't sound so bad....
maybe BHMO is not as stupid about policy as we suspect? Maybe by doing exactly what will harm the free markets and to bring down the economy is his devious plan? The more the markets fail, the banks, insurance, etc; the more the hands our out for a bailout and the more the gov takes over which is what the communists want!