Billions More For AIG

reply to post by kosmicjack


Interesting but now the CEO of the FDIC came public to announced that they "may also be in trouble" as they will have to start charging higher fees to smaller banks for the increase of coverage to customers mandated by the government.

They also hinted that they may need money from the tax payer to cover the increasing growing numbers of banks that defaulted last year and already in the last two months of this year.

As more banks default their funds will be depleted faster than they can manage.

Interesting.

reply to post by marg6043


Well then we should be clear about the dangers of capitalism if the CNBC folks want AIG to go Bankrupt, then they also need to say what the ramifications of that are for all of the people in the USA who have insurance through them is. Not only that, but the wider ramifications on the quality of life for everyone involved...


People through that "Let them go bankrupt" around rather easy when it has to do with large companies, but when it has to do with the American Population you don't see anyone saying LET THEM GO BANKRUPT... but that is in effect what will happen without gov bailouts.

The reason why we are in this to begin with is because of the blind faith in capitalism without controls....

That's what the CNBC people need to be explaining...

The U.S. government rescued giant insurer American International Group in part because its collapse would dramatically hurt European institutions, a senior Democratic lawmaker said on Thursday.

From Guardian U.K.

Read the entire article.

Looks like propping up AIG has more than the domestic audience in mind. Take from it what you will. Personally, I don't intend on purchasing any long-term investment as long as the upper levels of AIG and some other institutions remain un-indicted. The previous and current administrations in their ineptness, and refusal to hold criminals to account, are driving generations of people away from the markets.

Congrats Obama! You've succeeded in making this mess worse and now own part of it yourself. You could've stormed into office and took a baseball bat to the knees of these thieves, and been cheered for it no matter the consequences. Instead, you hired one of the crooks for Sec Tres that I firmly believe would have been Sec Tres in a McCain admin as well. You pussyfooted around with some feelgood mortgage crap that panders to your base and doesn't fix the problem in housing, while expecting the markets to fall for your smooth tongue as easily as the sheeple. How'd that work out?Now we're going to get the collapse anyway.


TOO BIG TO FAIL =TOO BIG TO REGULATE=TOO BIG TO SAVE

According to Wikileaks, this document was produced by AIG and circulated around the office corridors in D.C. This is why they got their money - extortion:

88.80.13.160.nyud.net...