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Thread: AIG: Thank You America, But We May Sue You

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    Re: AIG: Thank You America, But We May Sue You

    Quote Originally Posted by Helix View Post
    time to take a close look at "too big to fail, too big to exist" arguments. they seem to have some merit.
    Exactly. When any single business entity rises to the point of being so large (monoply?) as too "require" government (profit?) protection then that entity is dangerous to a "free" society. When a business is allowed to privatize its profits, yet spread its losses among the public it has, in essence, become part of the government in the form of crony capitalism.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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    Re: AIG: Thank You America, But We May Sue You

    Quote Originally Posted by VanceMack View Post
    So...Bush saved the auto industry?
    He laid the ground work but the bulk of the bailouts happened under his watch and were the policies of Bush and Paulson.
    “Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.” John Maynard Keynes

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    Re: AIG: Thank You America, But We May Sue You

    Quote Originally Posted by iliveonramen View Post
    He laid the ground work but the bulk of the bailouts happened under his watch and were the policies of Bush and Paulson.
    And you...were personally disgusted by the Bush bailouts of the auto industry which in reality 'saved' the auto industry?

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    Re: AIG: Thank You America, But We May Sue You

    Quote Originally Posted by ttwtt78640 View Post
    Exactly. When any single business entity rises to the point of being so large (monoply?) as too "require" government (profit?) protection then that entity is dangerous to a "free" society. When a business is allowed to privatize its profits, yet spread its losses among the public it has, in essence, become part of the government in the form of crony capitalism.
    No to mention beyond the spreading of losses the "too big to fail" entities generally receive lower borrowing costs due to the implicit government guarantee and resulting lower risk of default.
    “Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.” John Maynard Keynes

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    Re: AIG: Thank You America, But We May Sue You

    Quote Originally Posted by VanceMack View Post
    It would be interesting to see if the people that decry 'corporate welfare' also gave a kneejerk endorsement to the presidents bailout plans, especially for union strongholds like the auto industry.
    As long as the political slant of the administration is correct, it can be successfully "explained" by the MSM as "protection of the workers" or "saving the environment" rather than simply being more crony capitalism or corporate subsidies.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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    Re: AIG: Thank You America, But We May Sue You

    Quote Originally Posted by VanceMack View Post
    And you...were personally disgusted by the Bush bailouts of the auto industry which in reality 'saved' the auto industry?
    Of course not...I was challenging your "knee jerk support" assertion as if there was anything "knee jerk" about it. The first passage of the bailouts in September of 2008 was defeated and the markets went down 7% (778 points). The support of the bailouts were a realization something had to be done. I don't understand why you split the auto-bailouts from the bank bailouts. They are generally one and the same. One stabilized our financial industry the other stabilized the largest employer of American jobs. Both were passed to stem the downward spiral of the US economy. The string of bailouts were passed by two different administrations but were definately related.
    “Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.” John Maynard Keynes

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    Re: AIG: Thank You America, But We May Sue You

    Quote Originally Posted by ttwtt78640 View Post
    Exactly. When any single business entity rises to the point of being so large (monoply?) as too "require" government (profit?) protection then that entity is dangerous to a "free" society. When a business is allowed to privatize its profits, yet spread its losses among the public it has, in essence, become part of the government in the form of crony capitalism.
    Agreed, and the Solyndra debacle (as the flagship example of "green" subsidies) illustrates your point.
    "We the people are the rightful masters of both Congress & the courts, not to overthrow the Constitution, but overthrow the men who pervert the Constitution."
    - Abraham Lincoln

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    Re: AIG: Thank You America, But We May Sue You

    Quote Originally Posted by Mr. Invisible View Post
    I say we don't give them squat.
    Too late.
    Hail to the King baby!

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    Re: AIG: Thank You America, But We May Sue You

    Quote Originally Posted by justabubba View Post
    AIG: Thank You America, But We May Sue You - Forbes
    un****ingbelievable
    AIG would be nothing but a memory had the government not (wrongly) chosen to shore it up so that it could pay out the extensive claims due during the meltdown
    but now it is contemplating joining in a lawsuit filed by its former CEO (the one responsible for its financial quagmire) against the USA
    and here is the basis:
    the bailout provided funds so it could pay out is obligations 100 cents on the dollar (when it was over extended by Trillions)
    and
    AIG was forced to sell some of its prized assets

    how dare we make a loan to a company and also condition that loan such that AIG was required to sell something of its own to be able to afford to pay its just obligations!

    if AIG enjoins this suit against our nation, it will exhibit more gall than even charles degaulle
    Talk about ungrateful. I'd rather see corporations fail if they can't get it together.

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    Re: AIG: Thank You America, But We May Sue You

    Quote Originally Posted by Diogenes View Post
    Agreed, and the Solyndra debacle (as the flagship example of "green" subsidies) illustrates your point.
    ADM, GE and Lockheed Martin do as well yet they are supported, constantly, by both parties. We have long heard the "reason" (excuse?) is that since farming croporations, defense corporations and fossil fuel corporations get "subsidies" then it is only "fair" to give them to "green energy" corporations as well. Politicians (in both parties) always say that they are against these crony capitalism deals, yet make more of them instead of getting rid of any. Since we the sheeple re-elected 94% of these congress critters and the president in 2012, what could possibly make any of them feel the need for "change"? Pork and crony capitalism = jobs and votes; any questions?
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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