Congratulations to You (and me)!!!!

steelies_R_US · 09-16-2008, 04:26 PM

You are now an 80% owner of AIG the world's largest insurance company...........Govt agreed to an $80billion loan to AIG in exchange for 80% interest. Just goes to prove their are companiest too big to fail. I am actually happy we bailed them out. Try to imagine a world without insurance companies..........I'd be afraid to do anything

Just_learning · 09-16-2008, 04:29 PM

i am .... ecstatic.... I guess they knew someone where it counts.

yep...throwing money at all the problems is going to solve all the problems. They mismanaged their own money...not they can mismanage yours.

butwhymalemodels · 09-16-2008, 05:21 PM

I'd expect rates to increase by about 80% if I was insured by AIG!

Catching Nemo · 09-16-2008, 06:56 PM

We live in a current "blank" economic society but are becoming more "blank" as time goes on . (Select the correct answer(s))

A.

Socialist: An "economic, social and political doctrine which expresses the struggle for the equal distribution of wealth by eliminating private property and the exploitative ruling class. In practice, such a distribution of wealth is achieved by social ownership of the means of production, exchange and diffusion."

B.

Capitalist: Capitalism is an economic theory which stresses that control of the means of producing economic goods in a society should reside in the hands of those who invest the capital for production. It is a system based on the production of goods and services for exchange rather than use. Private ownership and free enterprise supposedly leads to more efficiency, lower prices, better products.

C.

Fascist: "A philosophy or system of government that is marked by stringent social and economic control, a strong, centralized government, and often a policy of belligerent nationalism."

D.

FaSoCapitalism: Sounds like all 3 at the same time.

E.

Who cares the Biggest Loser is on.

twobullz · 09-16-2008, 08:07 PM

No different then other industries in the past, IE the airlines that are constantly being bailed out and then raising rates and reducing what they offer, just the american way.

someguy29187 · 09-17-2008, 12:05 PM

80 billion here, 50 billion there, another 150 billion over there. Where is all this money coming from? We can't keep doing this or were going to call up France and ask for another loan, except we don't have Ben Franklin to sweet talk them.

Incredible_Bulk · 09-17-2008, 12:21 PM

We just keep printing it.

That's the reality of it. That's the reason we're seeing the rates of inflation. The dollar is worth less and less the more money we print. Or we have China take on some of our debt, which they've done.

I read somewhere that they own a 45% stake in the U.S. Economy. Ouchies.

maniacmikey · 09-17-2008, 12:28 PM

Well I'm off to the dollar store to make a small dent in my families debt to china.

butwhymalemodels · 09-17-2008, 01:04 PM

I think this is a huge first step toward government sponsored health insurance. We'll be like the Canadians, the Cubans and the French!

Uncle Milty · 09-17-2008, 01:13 PM

Quote:

Originally Posted by steelies_R_US

You are now an 80% owner of AIG the world's largest insurance company...........Govt agreed to an $80billion loan to AIG in exchange for 80% interest. Just goes to prove their are companiest too big to fail. I am actually happy we bailed them out. Try to imagine a world without insurance companies..........I'd be afraid to do anything

For the record, AIG is not the world't largest insurance company.

Chrome Bumper · 09-17-2008, 01:28 PM

Nothin' from nothin' leaves nothin'
You gotta have somethin'
If you wanna be with me
Nothin' from nothin' leaves nothin'
You gotta have somethin'
If you wanna be with me

I'm not tryin' to be your hero
'Cause that zero is too cold for me, Brrr
I'm not tryin' to be your highness
'Cause that minus is too low to see, yeah

Nothin' from nothin' leaves nothin'
And I'm not stuffin'
Believe you me
Don't you remember I told ya
I'm a soldier in the war on poverty, yeah
Yes, I am

Eagleclaw · 09-17-2008, 01:29 PM

Quote:

Originally Posted by butwhymalemodels

I'd expect rates to increase by about 80% if I was insured by AIG!

Which i am

gr8outdoors · 09-17-2008, 03:15 PM

This is the start of the insurance market hardening... rate increases for everybody!!!

BeaverBoy · 09-17-2008, 07:14 PM

It truly amazes me that the government continues to bail companies. Hopefully the money printers dont break down because we wont have the money to replace them. Actaully I can sum up what is happening with 2 words; CORPORATE GREED

husker · 09-18-2008, 06:15 AM

Quote:

Originally Posted by BeaverBoy

It truly amazes me that the government continues to bail companies. Hopefully the money printers dont break down because we wont have the money to replace them. Actaully I can sum up what is happening with 2 words; CORPORATE GREED

its not corporate greed.....it CEO greed.

the guy from leyman? or the other 1 that went bankrupt got 100,000,000 over the last 3 years but his company went BK....

theres something wrong with that.

the lady who almost ran HP into the ground got 19 mil to leave.

Clownahan got 3 mil to leave my Huskers and all he did was kill us for the last 3 years.

Just_learning · 09-18-2008, 02:57 PM

Quote:

Originally Posted by husker

the lady who almost ran HP into the ground got 19 mil to leave.
.

And guess who is being looked to as an economic advisor....

ampersat · 09-18-2008, 03:04 PM

Something about a fox and a henhouse come to mind here.

codyor448 · 09-18-2008, 03:04 PM

Gee i guess that would explain the almost 1/4 loss in my pension this week, went to buy AIG.... I'm so proud.. NOT!

SlamminKokes · 09-18-2008, 04:39 PM

Quote:

Originally Posted by butwhymalemodels

I'd expect rates to increase by about 80% if I was insured by AIG!

I just dropped them 2 months ago because the rates went up so much for my renewal!

Half fast Toyn · 09-18-2008, 08:16 PM

As long as we have faith in the $$$ its all good.

jfa686 · 09-19-2008, 10:34 AM

well with 150 million a day going to the UAE and the lord knows how many trillion going after WMD we can afford to bail out the upper 1%ers...isn't it great to be middle class.

Just_learning · 09-19-2008, 11:03 AM

Quote:

Originally Posted by jfa686

well with 150 million a day going to the UAE and the lord knows how many trillion going after WMD we can afford to bail out the upper 1%ers...isn't it great to be middle class.

If rich is making more than $5 million a year I dont know how you would consider yourself middle class...I dont know you...but I am just making a wild assumption.

Chrome Bumper · 09-19-2008, 11:36 AM

Quote:

Originally Posted by jfa686

well with 150 million a day going to the UAE and the lord knows how many trillion going after WMD we can afford to bail out the upper 1%ers...isn't it great to be middle class.

1% of Americans would be 3,000,000 people, if I am supporting them I will use them as dependents on my next IRS filing

jfa686 · 09-19-2008, 12:24 PM

1% income earners....ceo's etc..i just heard it on the news man????. sorry for the misunderstanding..also heard the ceo of AIG took home over 1 billion w/a B...over the last 3 years..of course it was on the news too so maybe I'm misinformed again..ok and I guess I'm WAAAAY on the lower end of middle class....wheres poverty at

BARCHASER · 09-19-2008, 04:11 PM

This is what governments always do, its called monetizing the debt. When there is too much debt, both private and public, just put off paying the bill until years later, ramp up inflation and pay the whole mess back with cheaper dollars. Kind of hard on the average guy when the inflation hits.

Its part of the other practice, make profits private for the rich but losses, well the public gets to eat that one.

I'm a complete cynic.

BalouSC · 09-19-2008, 10:37 PM

Maybe later I will post a picture of the huge AIG building in the skyline that I took this last weekend in Hong Kong.......Hmmmm where is our money going again?

Smoked Salmon · 09-19-2008, 11:21 PM

Must be nice to have friends in government that will buy you out if you run your business into the ground by taking risks not normally considered reasonable. Must be nice to not have to cover your obligations with real currency, just like some pension funds. Must be nice to know that you are too important to fail, even when a demonstration of failure is what is necessary to correct the exact types of behavior which created the current problem.

What will be next?

Will China insist on having representation in our government so that they can monitor the governance of their asset? That is a common practice when one company invests a low of money in another.

skybuster · 09-19-2008, 11:43 PM

I would encourage anyone with any money in insurance stocks to start asking questions. These large national companies have been making very poor business decisions for several years now.

I have done work for most of these companies at one time or another, and have recently shifted to trying to work for none of them.

The fact of the matter is that several of these companies have made very poor business decisions regionally, and it is obviously affecting them nationally.

Ask yourself this...

If your insurance company has a claim to investigate in Seattle, Washington, does it make sense that the manager of that claim is in Jacksonville, Florida?

You call and try to offer the administrator of the claim some pertinent info, but they can't begin to comprehend that Aberdeen and Montessano are only about 30 minutes away from each other.

This happens on a daily basis right now. If you are in the industry and want further info, feel free to pm me.

If you have stock in these companies and want to scare them with questions, feel free to pm me.

Bait Bucket · 09-20-2008, 04:50 AM

Better to bail out our country than another.

BARCHASER · 09-20-2008, 11:38 AM

Two things bother me about this bailout. The sheer enormous size, they are talking a trillion dollars??!!

The other is how unanimous they all are. Republicans, Democrats, Bush, Paulson, Bernanke, Reid, Pelosi etc, these people hate each other. And yet, they all line up with long faces and talk about how it is all absolutely necessary. And they all look more than a little scared. There has been little or no debate about the necessity of it just who is to blame.

So far this mess has been confined to Wall Street, housing, AIG, S&Ls etc. Everything is linked in this economy. Maybe they think (know?) the contagion will hit the rest of the economy and thats what makes them all so unanimous.

Eagleclaw · 09-20-2008, 01:20 PM

Quote:

Originally Posted by BARCHASER

Two things bother me about this bailout. The sheer enormous size, they are talking a trillion dollars??!!

The other is how unanimous they all are. Republicans, Democrats, Bush, Paulson, Bernanke, Reid, Pelosi etc, these people hate each other. And yet, they all line up with long faces and talk about how it is all absolutely necessary. And they all look more than a little scared. There has been little or no debate about the necessity of it just who is to blame.

So far this mess has been confined to Wall Street, housing, AIG, S&Ls etc. Everything is linked in this economy. Maybe they think (know?) the contagion will hit the rest of the economy and thats what makes them all so unanimous.

well said.. they are worried about their jobs not about our money

Just_learning · 09-21-2008, 07:14 AM

Quote:

Originally Posted by BARCHASER

The other is how unanimous they all are. Republicans, Democrats, Bush, Paulson, Bernanke, Reid, Pelosi etc, these people hate each other. And yet, they all line up with long faces and talk about how it is all absolutely necessary. And they all look more than a little scared. There has been little or no debate about the necessity of it just who is to blame.
.

You know things are truly messed up when everyone in Washington agrees.