http://www.freep.com/article/20090302/BUSINESS07/903020376/AIG+to+receive+$30B+more+in+aid

Some of the highlights:

The new infusion is intended to prop up AIG -- once the world's largest insurer -- as it is expected to announce $60 billion in quarterly losses early today (Ouch!, wonder how they'll survive?)

The company, which is considered too large to fail, previously received about $150B in loans from the government, which now has an 80% stake in the company. (Wait the government has an 80% stake in the company, surely it can't fail, what do we do?)

The decision to approve a third revision of the AIG bailout is a continued bet by the federal government that there would be even greater risk to letting AIG fail (And there we have it, give them more money to **** away).

Sure, lets blindly throw more money at businesses that have already proven they can't make $150B in loans work. A stable company like AIG that is going to report a $60B quartlerly loss today. LET THEM ALL FAIL I say, but if you're gonna bail these companies out, at least play fair and quit making the big 3 crawl on their hands and knees for their handout (excuse me, their "loan"). What a joke.

 

All of these bailouts are bad news long-term for the economy. We would be in the process of recovery if they were allowed to fail last September. As I said last fall, this will drag on for years with zombie banks and companies.

 

this was once a profitable company. the premiums are based on the risk. because of that insurance companies never lose money. there have been no super large catastrophies that would have prompted loses that would decimate a company to this degree. so what happened? i wonder if the government even tried to figure that out or just pumped in the cash.

i think we are in a heap of trouble as a nation.

 

AIG's losses are mainly from CDS's and other derivatives. They are going to be a money-pit for years.

 

Sub-prime Loans.

http://www.marketwatch.com/news/stor...A822E5F4509%7D


...originated subprime home loans that were inappropriate for some borrowers, and the firm didn't properly consider their ability to repay the debt. Some were adjustable-rate mortgages with low "teaser" rates and the OTS was concerned that once the rates reset, borrowers would be unable to afford the payments and could lose their homes to foreclosure,

 

2 words: Barney Frank

 

Hell, it's just money. Give em more.........the government seems to like printing the stuff.

 

Hibbs is reporting what is reported in the mainstream news. Loans are part of their losses. Do some research and you will see that AIG is part of the 'shadow banking system' of derivatives. AKA, "off balance sheet" assets. They 'insure' large masses of CDS's and other credit instruments.

Keep in mind derivatives sunk Lehman, Bear Stearns, etc.

 

How?

 

That's not difficult to extrapolate, if you try hibbs.

 

I mean, he's only been in charge of the Financial Services Committee for a couple years now??? He did all this damage, and caused a Financial Meltdown in a Year?

Seriously, please explain.

 

I've got time to play. Extrapolate away...

http://www.businessandmedia.org/prin...924145932.aspx
http://www.usnews.com/blogs/sam-deal...ie-muddle.html
http://www.boston.com/bostonglobe/ed...ancial_fiasco/

Even though we all know you could never admit defeat...

 

Three Right Wing Conservative Editorials... It Must be true!



That's OK, I still read them. All pretty weak.

First one, he caused the crisis because he's gay and may have been dating a guy from Freddie Mac 20 years ago. Opposed Regulation?

Second one a squabble over who wanted more regulation. (Still don't see how he caused anything.)

Third one CRA, which we've already debunked, and he "complained" about stuff.. Of course all he Could do was complain as the Republicans controlled the Presidency, House and Senate.

I don't see how he actually Caused anything. Saying "Fannie Mac is looking good" while in a position of Minority Power (Office OR Committee) doesn't Cause the largest Financial Crisis we've had since the Great Depression.

 

i heard that a.i.g holds the pensions for the united stated congress...so no a.i.g no pensions. this is what?? the third bailout for them??

 

You think this is just getting stupid now?

I think it's been stupid for the last few months.

Everyone says that Obama is so smart and Bush was so dumb. Personally I haven't seen any difference between the two of them when it comes to bailouts and more government give-aways.