Typical tax-and-spend (or worse- borrow and spend) Republican welfare state mentality. When will the Republicans learn that the government can't take care of everyone and that big government isn't the answer to everyone's problems? I guess they were for the free market economy before they were against it.
I am sure there is authority for it since the federal government does anything it wants to, but can anyone explain to me where the federal government gets the authority to bail out AIG? I think the lead guy pushing for fed involvement is the Gov. of New York and I think his political affiliation (D) is irrelevant. If the feds bail out AIG it will be because they think our economy will crumble if it falters - again the political affiliation is irrelevant. Partisan politics suck.
i hold both parties responsible for this mess....they have to loan the money to AIG, if it fails, then you can start wiping your *** with dollar bills.
We cannot afford to let AIG fail as it is now. Too much risk. The issue is that we let it get to this point. Regulations are required in any interconnected system. Pure free market, like pure socialism, only works if everybody have good intentions.
Dumb question here. AIG is subject to regulation. Was their failure a matter not covered by the current regulation they are subject to? Edit: Nevermind, I found he answer.
Bear Stearns bailout = 29 billion AIG bailout = 85 billion Fannie Mae Freddie Mac bailout = 200 billion 2008 Stimulus check totals = 152 billion OK, I know these bailout numbers are technically "loans", but the totals are really starting to stack up. Do I need to be a patriot and return my stimulus check?
the fed has given them time to wind down their assets in an orderly manner. AIG can't save themselves, but it will be orderly. AIG can never pay back the LIBOR + 8.5 in the next 2 years for the $85B
I like how we can't afford health care for America but we can afford corporate bailouts and wars, which are far more expensive. Republicans like big government, too. Their corporate welfare encourages irresponsible behavior just like the social programs they accuse of doing the same thing.
Sad thing is had the Bush Administration been able to amke the decision over the weekend we probably could ahve saved about $40 billion in taxpayer monies. Or had Paulson been more oblique in his news conference as much as 10-15 billion. What's worse than a gutless wonder, is a gutless wonder who is so gutless they can't make a decision they need to until they are actually forced to make the decision. The same support action could ahve been taken this weekend, the stock price woudl not have cratered to the point it did and the protection woudl have been stronger for much less cost. Just ******* stupid.
Didn't you know? Giving money to poor people for health care or economic security is socialism, the worst example of a nanny state gone amok. Giving $300 billion to a few large companies-the very bedrock of sound free market capitalism, the epitome of good government in action.
Summer for once in your life can you please shut the hell up about Bush. Seriously- if he had jumped in on Saturday like you wanted, you would have been screaming that he stepped in on Saturday and didnt let AIG fail. And dont freaking say otherwise- that would insult both of our intelligences. its old, its tired, and its stupid. Both sides of the aisle are equally to blame here. Yet you blame one freaking person. For the love of god -stop it.
