Fed in AIG rescue - $85B loan

Now not only are we giving ourselves a mortgage for our new home but we are providing insurance for our new home too. Come to think of it, I need financial rescuing too!

http://money.cnn.com/2008/09/16/news/co ... tm?cnn=yes

No body has a problem with the government spending 85 billion dollars of tax payers money on this?

Yeah I have a problem with it but it happens so often anymore I'm just tired of b*tching about it. A lot of these investment banks made bad loans to people and companies that should have never received them. Now they are in trouble and need the government to bail them out. I thought the Republican mantra was rugged individualism. Take care of yourself and don't expect the government to help. Isn't that what they say to individuals with a mortgage that loses their job or can't afford health insurance? Let them fall on their faces like we would have to. There are profitable companies out there that would be more than glad to purchase their assets. I believe Bank of America just bought Merrill Lynch because ML got themselves in trouble.

Yes.....Socialism is evil......unless it's used to save big business......with MY money!! The2008 version of the Republican Party needs to change their name to the Hypocrite Party of America......Free American flag lapel pins for all!

I think that a name change is due, maybe something like "The French States" or maybe "China States" what ever it ends up being I'm totaly ****** off about it. Why didn't they bail out the mom and pop stores across the country when wally moved in, sure could of been a better deal than this.

Psst by the way if you look at the numbers the current stock market crisis has not been caused by housing defaults, that would be impossible. It would take the whole state of New York to default at the same day, same minute. Mortgages are insured, most mortgages are bought by foreign investors. I'm tired of hearing that this is about mortgages.

Adamiscold wrote:No body has a problem with the government spending 85 billion dollars of tax payers money on this?

Don't be happy that this had to happen... but do be happy that this happened.

-- MW

I'm very unhappy it happened, we have not been told why, how, or even when they knew things were bad for these companies...........the men with brains wearing there zoot suits should be the ones paying. There the ones walking out the doors with the money bags. How does the fed have the authority to bail out any company anyway. the way I see it since I am a tax payer is they should of bailed all the companies out or none of the companies should of been bailed out. I guess I'm a three musketeer, all for one and one for all, not ok you gave me this much money for my campaign so your off the hook, and you, well try harder next time to scratch my back. Just one more thing 11.5% on 85 billion wonder if thats compounded daily,weekly,monthly or yearly. Do they think that we are that stupid. They buy up a couple of more companies and maybe we can finally stop paying taxes for nothing.

This is exactly what happened in 1929. if the govt. bails out the banks to prevent total collapse of the market, then the bankers should be jailed. Also the repo man needs to visit these houses of defaulted mortgage holders and take away their motorcycle, boat, and suvs. They can go back to renting again until they have learned their lesson. All this is doing is causing a domino effect. If I don't have to fear the repo man, then mabey I won't make my mortgage payment this month and go buy a Harley. I know the govt. will bail me out. Why be responsible if I have no consiquences for my actions!!!!!!!

I knew it was going to happen because there was too great of an impact on the American people for AIG to just file for bankruptcy, Dow would have ended down at least 3 times as much as it has this week. I guess the only issue that comes up that my wife made was that they didn't even ask us the tax payers if we wanted to pick up the tab for it? They just went ahead and raised our tax's without even asking us first! She said she heard on the radio that we should be able to sue them for making decisions without our knowledge.


Since the mortgage for our home is run by the government and our mortgage insurance and life insurance is also run by the government that it seems only fitting that the government go ahead and take over the health care market too by buying up hospitals and regulating health care. It just seems like it's going to happen at some point down the road anyways so why not just go ahead and do it and get it over with?

Duengeon master wrote: Also the repo man needs to visit these houses of defaulted mortgage holders and take away their motorcycle, boat, and suvs. They can go back to renting again until they have learned their lesson. All this is doing is causing a domino effect. If I don't have to fear the repo man, then mabey I won't make my mortgage payment this month and go buy a Harley. I know the govt. will bail me out. Why be responsible if I have no consiquences for my actions!!!!!!!

There it is. The root of the problem. Credit is killing the country.

Ok now there talking about making a fund of 800 billion to buy back all the bad loans that everyone has made. Lets see how this works, 800 billion in fund. I'm going with a home value the government says is 300 thousand now there going to pay 30 cents on the dollar which makes it 90 thousand per home at 7 million homes sold roughly for the last couple of years that would just about pay for the last two years. now what about all the other hundreds of billions that the government has put in also the rest of the world sheesh are the banks in it that deep my gosh man thats a load of money.

And I'll bet the CEO and all of his people get to pop their golden parachute and bail without losing a dime. I came to the conclusion a long time ago it's not about dem vs repub. It's rich against poor and the rich are winning because they have the masses arguing over stupid sh#t like lipstick on pigs, preachers, and the like.

The Great Depression II is what this is starting to look like, I hope I'm wrong. The reason people didn't mind the bank robbers in the 30's is because they felt that the banks robbed the people first. They inflate the currency then deflate the currency. During the deflationary period the banks consolidate and buy everything at fire sale prices. Once they own everything they sell it back to us. The cycle continues and the only ones making out are the banksters. My opinion is that we should see more of this BS going into the future, we the middle class will get wiped while the elites run a scam on the bread and circus sheep.

"If the American people ever allow private banks
to control the issue of their money,
first by inflation and then by deflation,
the banks and corporations that will
grow up around them (around the banks),
will deprive the people of their property
until their children will wake up homeless
on the continent their fathers conquered."

Thomas Jefferson

If you don't believe the Federal Reserve is a private company then I invite you to find them listed in the Blue Pages of your telephone book.

We had a contract with the federal reserve. It's a weird setup. The employees are not government employees but their board members are political appointees.