Chicago’s Mayor Hits AIG Bailout; Other Midwest Officials More Positive

September 19, 2008

  • September 19, 2008 at 1:33 am
    Ohioan says:
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    Where is the bailout money coming from? Since there’s a deficit already, is it being borrowed from China? I don’t understand how the U.S. Govt. has the credit rating to bankroll half a trillon dollars???

  • September 19, 2008 at 1:54 am
    David says:
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    The money is a loan from the Federal Reserve. The US government is not simply handing over the money to AIG. It’s a loan, stupid…at over 11%. If it is paid off in the required time period, the Fed will actually make out on the deal. It’s a lot better than the consequences that could have happened. When did the Federal Reserve Bank ever consider giving money to education? Mayor Daley sounds like a grand-stander like his old man.

  • September 19, 2008 at 2:44 am
    Scandal says:
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    Mayor Daley’ reaction is nothing more than a polital manuever to create something that props up Obama. Sheer nonesense. Check out the url/link below if you want to see what scandals this same mayor has been involved and where Obama fits into that scandalous picture:

    http://www.newsmax.com/politics/obama_daley_chicago_elect/2007/10/11/40228.html

    To see the real truth read Insurance Journal’s article (September 18, 2008) “State Regulators: Insurer Groups Must ‘Stick to Facts’ on AIG”.

    Compare this to Mayor Daley and his Obama connection, then you see real scandal!

  • September 19, 2008 at 2:45 am
    Pops in Dallas says:
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    First of all, AIG’s problem was not SOLVENCY it was LIQIDITY. Simply means they have assets which can be sold but not fast enough to solve their cash crunch. So, Uncle Sam in effect makes them a bridge loan until they can liquidate sufficient assets to pay off Uncle. O.K.?

  • September 19, 2008 at 2:51 am
    Ohioan says:
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    David, you are the stupid one. You didn’t understand my question. I’m asking where our broke fed is getting to cash to loan out. In case it escaped your attention, we have a massive deficit right now. In other word, we spent more than we took in. Moron.

  • September 19, 2008 at 3:21 am
    bob says:
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    have you ever heard of Treasury Bills and Notes? billions of them are sold everyday. people and institutions buy them from the govt and get paid a low rate of interest for loaning their money to the feds. in this case, the feds are pledging money to help AIG (if needed; probably won’t be – it’s on paper so trust is instilled back in the company) The good ol taxpayers will make money on this deal, so relax – and educate yourself a little bit in the mean time. who says we are broke? we (U.S.) can borrow as much money as we want by selling those treasury bills to China and Japan. they love ’em.

  • September 19, 2008 at 3:52 am
    Ron says:
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    Daley is a career politician who hasn’t done a damn thing for his city in years. As a descendant from a long line of old puss bags, he is uniquely qualified to comment on nothing. It’s funny he didn’t object to the government squandering billions in foreign aid to 3rd world countries. Now it’s helping it’s own economy so Daley needs to shut the
    _ _ _ _ up.

  • September 19, 2008 at 5:00 am
    earlybird says:
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    This is a great service! We can actually get someone to read what we think about this and other important issues. Now, take my word for it, if AIG didnt get the loan, there would be a lot of us, that get this email news, that would be reeling from the impact. There are world wide implications. As it is, there are a lot of AIG employees refreshing their resumes right now! I feel for them.



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