Gender: Male Location: I know where I would like to be
AIG (AMERICAN GENERAL)
As we all know AIG is going down for the moment I have mine and my families life insurance through them but they do much more than life insurance...MANY people are going to suffer...the feds are currently offering to bail them but does anyone understand what that means..the government taking control of AIG... ...I already know a few bad things as the government has access to things on YOU they previously didnt have...etc...but they will save many people this way temporarily ANY AIG issues please discuss here....I'm not going to make a full page first post...let's all contribute...
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Last edited by Jack Daniels on Sep 17th, 2008 at 11:42 AM
The Stock Market is throwing us into a depression. I just know it. Companies like Meryl Lynch and others are like WOW! Bankruptcies just everywhere. People are losing their homes life and right...
__________________ Deja Moo: The feeling that you've heard this bull before.
Gender: Male Location: I know where I would like to be
what? not been following news on it since real early but I thought they were just gonna bail out AIG only and not set that pattern of bailing out big business...?...man the feds change like the weather reports..lol
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Last edited by Jack Daniels on Sep 17th, 2008 at 05:42 PM
Yeah, sorry you got called a lackey for pointing out the obvious to everyone. I checked back in a week or so later and saw that anyone who's ever even remotely agreed with me about anything had been banned.
Well, with an outgoing administration of this size, there's going to be a lot of people who'll need a job.
Billy Boy signed the repeal of the Glass Steagall Act in 1999, which allowed the Gov to force (and they did) mortgage lenders to lend out to high risk ventures, which put those lenders in return at risk. Edit: I should also add, lenders were given out loans they knew would default to people during the housing boom to turn a quick dollar. Look how many foreclosures we have.
Thing is, this was in the works long before Clinton and parts of the Glass Steagall repeal where done by Republicans, ie it was a bipartisan movement, not just Clinton signed the repeal (which if he didn't, congress would have most likely vetoed his ass anyway, but that's a guess) and hell followed a decade later. It was greed across the board and many hands getting rich off it, now we, the tax payers have to pay to refill the cookie jar.
__________________ @nus.
Last edited by Robtard on Sep 17th, 2008 at 09:49 PM
Gender: Male Location: The most liberal and accepting stat
Well what have we learned kids? Thats right, dont give out mortgages to people with a shitty credit history and record of ****ing up.
You know what the sad thing is? I read online that the majority of these people that defaulted on their mortgage were black or minority, and I heard some black person blaming white people for causing it all because instead of giving the minorities regular mortgages they were racist and made them get sub prime loans.
KMC Community Forums
AIG (AMERICAN GENERAL)
...I already know a few bad things as the government has access to things on YOU they previously didnt have...etc...but they will save many people this way temporarily ANY AIG issues please discuss here....I'm not going to make a full page first post...let's all contribute...
Sep 17th, 2008 11:32 AM
