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...

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...

I mean left and right...seems my edit button is gone..

save your scrap metal! It could be the thing that pays your land taxes!..lol..(not a joke)

The Gov is going to bail out three mega-corporations now, more to possibly follow.

I'm going to blame Bush.

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

Originally posted by Jack Daniels
what? not been following news on it but I thought they were just gonna bail out AIG and not set that pattern of bailing out big business...man the feds change like the weather reports..lol

Bear Stearns, Freddie Mac, Fannie Mae are on the list too. We're talking (possibly) trillions of $$$ here in bail-out money.

Edit: The Gov has taken control of Freddie and Fannie and booted their top execs.

boy they are going to track down everyone and call in some debts..lol

I believe that is called the free market regulating itself. Or regurgitating on itself. Something like that.

If the government bails out AIG would they then have control over the company?

Originally posted by Devil King
I believe that is called the free market regulating itself. Or regurgitating on itself. Something like that.

It has returned.

Some on the Right side of the spectrum are trying to lay sole blame on the Clinton Admin for this. Poor Bill.

Originally posted by Symmetric Chaos
If the government bails out AIG would they then have control over the company?

Possible, at least they get to remove and possibly position in top Execs of their choosing.

Hmmm, I wonder how low the Stock Market has to drop before we go into a real Depression or how many companies have to go belly up..

Originally posted by Robtard
It has returned.

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.

Originally posted by Robtard
Possible, at least they get to remove and possibly position in top Execs of their choosing.

Well, with an outgoing administration of this size, there's going to be a lot of people who'll need a job.

Originally posted by Robtard
It has returned.

Some on the Right side of the spectrum are trying to lay sole blame on the Clinton Admin for this. Poor Bill.

How the ****?

Originally posted by Deja~vu
Hmmm, I wonder how low the Stock Market has to drop before we go into a real Depression or how many companies have to go belly up..

This depressing, or?

Originally posted by chithappens
How the ****?

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.

So a conservative president is advocating bailing out businesses? Seems off.

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.

Hilarious.

Originally posted by KidRock
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.

Hilarious.

😆 😆 😆

I hate ignorant people. 😐