AIG Rescue at Hand: Government to Take 80% Stake in Exchange for $85 Billion

September 16, 2008

  • September 18, 2008 at 8:46 am
    Mike says:
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    So free market – You think we should get rid of the FDA and the FAA?

    And you believe monopolies should be legal?

    You dont even understand our own system.

    I think pure capitalism can work. But only if there is a bloody uprising by the workers every 20 years when they realise how they are getting screwed by the rich and powerful who control the FREE MARKET.

    Pure Capitalism is brutal, and we can use govt as a tool to soften the blow. We just need a more open, honest, and dependable govt. We dont have that because of corruption.

    So I vote 3rd party.

  • September 18, 2008 at 9:00 am
    Joe Mama says:
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    Mike–

    I’m a complete moron and even I realize that if you vote 3rd party, you’re throwing away your vote. You might as well write in Mickey Mouse.

    Please–can you give me an example of when a 3rd party has ever gathered more than 5% in a national election?

  • September 18, 2008 at 9:09 am
    Mike says:
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    Thanks “complete moron” for your comment. First of all understand that with the electoral college the winner of each state takes all the delegates. So if McCain is projected to win your state by 10% in the polls, then indeed it is your vote that is wasted, not mine.

    On the other hand if a third party candidate can get a lot of votes, they can influence the policies of the mainstream candidates.

    The reason third party candidates don’t get more votes is because of morons like you who dont think it will make a difference.

    If more people got off their but and actually did something like me, and actually understood the system, then things would change, and third party candidates would get more votes, and thus gain more power.

    Its people like you who are part of the problem and who enable the corruption that we see.

  • September 18, 2008 at 9:25 am
    Joe Mama says:
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    apparently I struck a nerve, Mike, which was not exactly my intention. I see your point, though you still weren’t able to answer my question.

    Why not try to influence either of the two candidates AS they’re running, that way they hear your voice during the campaign and not afterward?

  • September 18, 2008 at 10:37 am
    Peon... says:
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    Wow …way to make your case. I guess your statement settles it, huh?

  • September 18, 2008 at 10:39 am
    FOWIF says:
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    I’m sorry I started the “political” blame for this since it simply brought in all of the usual rhetoric of Dems v. Reps.
    From Googling “Who’s to Blame for the Subprime Crisis”, here is a brief list I found:
    Hedge Fund investors, homebuilders, post 9/11 agenda’s, homebuyers, investment bankers, Sen Phil Gramm’s Commodity Futures Modernization Act 12/2000; Michael Greenberger of the CFTC, Sen Christopher Dodd (Senate Banking Comm Chair with ties to Countrywide Financial), Rep Barney Frank (House Financial Svcs Comm Chair, who in 2003 rejected Bush’s 2003 regulatory effort to bring F Mac & Mae under Treasury Dep’t control), and the 4 different Treasury Secretary’s since 2000(Henry Paulson now appears to be trying to do something).
    There are plenty of Dems and Reps in this mix to blame.
    The greedy simply took advantage of those who were asleep at the wheel – homebuyers, lazy bankers & investors and yes, politicians and regulators. AIG benefited until it caught up with them.
    Most of us probably profited with our mutual funds if we are blessed enough to have some extra $.
    The bottomline – government can’t regulate ethics as long as the greedy and prideful are among us. Don’t be so naive to think that any President can cure this or prevent it from happening in the future.
    Congress can’t either, which proves my point that government, especially bigger government, is not the answer.
    The snowball of gov’t bailouts is possibly too large now to stop or control.
    And perhaps insurance companies should stick to what they do know how to do – insurance.

    “We can draw lessons from the past, but we cannot live in it”
    Lyndon B. Johnson, December 13, 1963

  • September 18, 2008 at 11:47 am
    Peon Agent says:
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    Well, we have definitely veered from the topic …but, since we’re on a roll, I’d like to add my 2 cents.

    Both of you have legitimate points …isn’t that very democratic of me?

    Let me state for the record, I would like to vote for the most Conservative candidate in any election. On the National level, and on an “electable” basis, that has been a Republican as long as I’ve been able to vote. On a local level, there is an occasional deviation from that ticket, and I’m not a party staight-ticket kind of guy.

    I would LOVE to do better, however. If only there was a 3rd Party candidate that didn’t deserve a straight jacket. Ross Perot nearly fit that bill …until near the end when he did two things that changed my mind. He chose his VP, and I thought it did that hero a severe disservice to throw him ignorantly into that vicious arena with an apparent lack of preperation. Second, he started babbling like a crack-ho. What happened to his wisdom at the end, I still can’t explain.

    Prior to, and ever since, I have seen no option besides the Pachyderm and the Donkey. I can only wish for the day that will change, though. The Repubs have gone down the toilet since they tasted power and became corrupted. It’s easy to do, and the outside power-brokering influences have a game plan that rarely fails. I will definitely sign up for that 3rd Party candidate if he/she every arrives again!

    That brings us to the problem that both Mike and Joe Mama’s last postings demonstrate. Both of you are right!

    There’s a chicken and egg situation that’s very nearly impossible to solve …and the 2 parties know it. The only thing that’s going to give a 3rd Party candidate any chance is an intelligent and vibrant candidate. But, unfortunately, that takes years of focused grooming. Until then, all this theory is for naught. And, who’s going to do the grooming? There’s no legitimate organization to lead it. Ron Paul? As a fellow Texan, I think I have the right to say, yeah right.

    So, Mike, are you truly going to risk the highest National position, to such a liberal unknown as BO, in your zeal to have a 3rd party garner about 5 points? This is just my opinion, but a Liberal Congress, and a Liberal President, is NOT going to be influenced in the slightest by those kind of numbers. What more conservative folks need to realize is that for a majority of liberals, that is their religion. So, even if they are in a severe minority, they will do what they force their opinion of what is best on anyone possible. With that Congress and the President in their stable, the American peoples will is unimportant. In proof, all you need to look at is the drill for oil situation (and, I hope we don’t veer into whether that’s right or wrong because that’s not the point).

    Anyway, if the two parties don’t get back to the Constitution, there are limited options for us. Revolt or acceptance of an increasingly Socialist government and eventually a Dictatorship.

    Sad…

  • September 18, 2008 at 11:50 am
    Peon Agent says:
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    That’s about the size of it.

  • September 18, 2008 at 11:57 am
    Mike says:
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    Peon said:

    “What more conservative folks need to realize is that for a majority of liberals, that is their religion”

    Remember Jesus Christ was a bleeding heart liberal. Love your neighbour. The war in Iraq is unnecessary and wrong. Jesus would not approve. Polluting the environment is bad.

    Don’t drill for more oil, the price of gas wont come down much anyway, and that is a long way off, so lets put the environment first and find some alternatives that are cleaner and more sustainable. Jesus and buddha would support that…….

    Look at what’s going on in Congress right now. We’re in an energy crisis, and the burgeoning solar and wind power business is on the edge of shutting down—because Republicans are blocking the tax incentives they count on. Yet they’ll fight to the death for huge oil industry subsidies.

  • September 18, 2008 at 1:40 am
    Joe Mama says:
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    Sheesh, Mike…

    The war in Iraq. Yep, it sux, but instead of harping on “woulda, shoulda, coulda”, we should be focusing on doing what we can to WIN and bring our troops home SAFELY. It’s not the fault of the war that got us into this financial mess. Note: I’m not sure, but I don’t think AIG has a Baghdad office, so this is a moot point on this forum.

    Drilling for oil: ok, let’s not drill. Meanwhile, other countries will drill right off our coast for what we could get ourselves. Yes, other countries with lesser environmental standards than we have. Why not use our resources to drill here, drill now (SAFELY), and in the meantime work on making more fuel efficient cars?

    I’m done.



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