The simplest answer to your question is this: the decision is made by that group of people that is able to wield violence on a large scale most effectively. That’s not what you were told in school for the simple reason that it is true.
Ok, all you smart guys, tell me this, Why is the US government (me and you the taxpayer) bailing out AIG, an international insurer? Where is the all worshipped United Nations?
And, prosecute the bums that mismanaged the company, make a law retroactive if you must to do this. Stop paying MILLIONS to executives who are only looking out for themselves.
Since AIG screwed up well beyond any reasonable measure, they should suspend writing new business until the government debt is repaid. Renewals okay, new business, not so okay.
Has anyone blamed the President yet? I guess they’re still too busy blaming him for Katrina and possibly now Ike.
BTW: Bush 7, Terrorists 0.
Frankly, everyone (even the small employees of AIG) must look out for themselves and prepare accordingly.
We have the greedy corporate elite’s of NY (as one of you said) fouling up this huge hunk of money and now our “well equipped” government bureaucracy entering the mix….good grief. Does this fall under FEMA’s control?
Time to move your policies elsewhere.
Perhaps we should let the hard working janitors of the world take a turn at running things…..us eensurance perfessionals soor aren’t dooing veery goooood.
We all had better be praying for our kids and grandkids who will be cleaning up not only our own fecal matter someday but our financial crap as well.
I’ve spent a good part of the past 30 years of my life competing against insurers like AIG trying to earn business working through independent insurance agents and brokers. The world is in a very different place now. My only advice to hard-working Americans like me would be to (1) get your financial house in order as quickly as you can and as best you can (2) develop a good prayer life. There are no trustworthy institutions run by men and women in our country any more….
Granted, I don’t know that much about economics, but if it’s The Fed’s money, how does it exactly affect the taxpayer? Seems like it’s still OUR money. This can’t be good for the federal deficit.
Also, what happens if AIG DOESN’T pay back the fed in 2 years?
Finally, I saw that AIG has over $1 trillion in assets in equity. Why then do they need a bailout? If I get really in debt, I just sell either my house or car and downsize. Why can’t they?
I must be missing something really obvious here…please pardon my ignorance.
Gollly! I’m shor feeling better now that them thar Harverd gradeeates are running things! As I write this, the Dow is down 258 points. Guess us here normal folks don’t know nothing do we?
We have updated our privacy policy to be more clear and meet the new requirements of the GDPR. By continuing to use our site, you accept our revised Privacy Policy.
Wants to Know,
The simplest answer to your question is this: the decision is made by that group of people that is able to wield violence on a large scale most effectively. That’s not what you were told in school for the simple reason that it is true.
Ok, all you smart guys, tell me this, Why is the US government (me and you the taxpayer) bailing out AIG, an international insurer? Where is the all worshipped United Nations?
And, prosecute the bums that mismanaged the company, make a law retroactive if you must to do this. Stop paying MILLIONS to executives who are only looking out for themselves.
Since AIG screwed up well beyond any reasonable measure, they should suspend writing new business until the government debt is repaid. Renewals okay, new business, not so okay.
Has anyone blamed the President yet? I guess they’re still too busy blaming him for Katrina and possibly now Ike.
BTW: Bush 7, Terrorists 0.
Frankly, everyone (even the small employees of AIG) must look out for themselves and prepare accordingly.
We have the greedy corporate elite’s of NY (as one of you said) fouling up this huge hunk of money and now our “well equipped” government bureaucracy entering the mix….good grief. Does this fall under FEMA’s control?
Time to move your policies elsewhere.
Perhaps we should let the hard working janitors of the world take a turn at running things…..us eensurance perfessionals soor aren’t dooing veery goooood.
We all had better be praying for our kids and grandkids who will be cleaning up not only our own fecal matter someday but our financial crap as well.
I’ve spent a good part of the past 30 years of my life competing against insurers like AIG trying to earn business working through independent insurance agents and brokers. The world is in a very different place now. My only advice to hard-working Americans like me would be to (1) get your financial house in order as quickly as you can and as best you can (2) develop a good prayer life. There are no trustworthy institutions run by men and women in our country any more….
The republicans got what they wanted – No Regulation, no oversight – Now look whats happened. Oh, now what are they gonna do?
So yea, I will blame Bush and the Republicans, look at all that has happened on his watch.
Mike, the Demon-crates have been running Congress. Blame them.
Granted, I don’t know that much about economics, but if it’s The Fed’s money, how does it exactly affect the taxpayer? Seems like it’s still OUR money. This can’t be good for the federal deficit.
Also, what happens if AIG DOESN’T pay back the fed in 2 years?
Finally, I saw that AIG has over $1 trillion in assets in equity. Why then do they need a bailout? If I get really in debt, I just sell either my house or car and downsize. Why can’t they?
I must be missing something really obvious here…please pardon my ignorance.
Gollly! I’m shor feeling better now that them thar Harverd gradeeates are running things! As I write this, the Dow is down 258 points. Guess us here normal folks don’t know nothing do we?
It really didn’t help him run the country very well, did it…