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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 iliveonramen View Post
    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.
    Actually...I dont split the bailouts. I was against all of them. I was against the Bush spending back when it wasnt 'cool' to be against deficit spending. However there are many that are very selective with their upset and outrage. Bank bailouts...bad, auto bailouts...good. Outrage over bank exec pay and bonuses, excuses and justification over auto industry bonuses. You know the drill.

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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.
    No, Its WAAAAAAAAAAAAAAAAAAAAAYYYYYYYYYYYYYYYYYYYYYYYYYYYY YYYYYYYYYYYYYYYYYY past time to have looked the "too big to fail" arguements and called them what they are, Bull****. With a capital B and a capital S.
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    Re: AIG: Thank You America, But We May Sue You

    Quote Originally Posted by ttwtt78640 View Post
    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?
    "This is Congresscritter Lotsabucks, speaking to the voters of my district. Don't forget, folks, in the next election, who it was that brought you job security through government subsidies of United Widgets, the main industry in my district.

    Moreover, I stand foursquare for a balanced budget amendment, cutting government spending, and the continued subsidies of United Widgets.

    This is Congresscritter Lotsabucks, and I approve this message (as do most of the voters who depend directly or indirectly on the continued pork... I mean bailouts of United Widgets. "
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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?
    Huge difference between AIG deal and GM/Chrysler; The later involved haircuts to all involved.

    Notice that part of the argument of the plaintiff here involves the fact that AIG debts [to other firms] were being paid off at 100 cents on the dollar.

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

    Quote Originally Posted by VanceMack View Post
    Actually...I dont split the bailouts. I was against all of them. I was against the Bush spending back when it wasnt 'cool' to be against deficit spending. However there are many that are very selective with their upset and outrage. Bank bailouts...bad, auto bailouts...good. Outrage over bank exec pay and bonuses, excuses and justification over auto industry bonuses. You know the drill.
    Sure that definately would be a case of hypocrisy.
    “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 PirateMk1 View Post
    No, Its WAAAAAAAAAAAAAAAAAAAAAYYYYYYYYYYYYYYYYYYYYYYYYYYYY YYYYYYYYYYYYYYYYYY past time to have looked the "too big to fail" arguements and called them what they are, Bull****. With a capital B and a capital S.
    1) What do you think the “too big to fail” position asserts?
    2) Exactly how do you propose to assert that it is BS?
    Last edited by Dwight; 01-08-13 at 01:43 PM.

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

    Against all bailouts. AIG can try to make a case, good luck getting a judge convinced they were harmed by the bailout plan put forth when there were no other options but bankruptcy. AIG shareholders saved a good deal of money by having a continuing valued investment instead of a one time payment.

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

    Quote Originally Posted by Dwight View Post
    1) What do you think the “too big to fail” position asserts?
    2) Exactly how do you propose to assert that they are BS?
    1) It asserts that there exists in our country businesses that are too large either physically or fiscally or both to be allowed to fail because of percieved negative effects on the national or state economy. Thats the nutshell version.
    2) I dont propose they are BS, they are in fact BS. There is absolutely no business too large to fail in this country. In fact I would go even further and say that no business can ever be to large to fail. Businesses fail primarily because they have cash flow and reserve problems. How they got to that state is immaterial. What is material is that bankruptcy is specifically for these sorts of situtations. Bankruptcies can either liquidate the company and its assets or restructure their debt such that they can feasably recover and pay back the debt they owe. Bankruptcy is opportunaty for other investertors to come in and purchace a company or its assets at a discount and take over the niche the company being liquidated formerlly occupied, or it allows the company to retsucture its debt obligations in such a way that it can keep operating and forseably pay back its creditors. Bankruptcy happens all the time in this country to very large corperations. The only difference were these corperations that were bailed out were politically connected and screaming bloody murder. There was NO reason at all to bail out ANY of these companies via the goverment. All of the whining about how the country would have went into a recesion if they were not helped is a crock. Most of those companies if not all of them would not have been liquidated but restructured. In other words they would still be in business. That whole bailout fiasco was a crock. Totally and completely unnesseary.
    Semper Fidelis, Semper Liber.
    I spit at lots of people through my computer screen. Not only does it "teach them a lesson" but it keeps the screen clean and shiny.
    Stolen fair and square from the Capt. Courtesey himself.

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

    Hooray for AIG!!! Bust that socialist pig out of office. Humiliate Obama and Biden every chance you get. Wall street rules! The "Great Re-Distributor of Wealth" made to look like that arrogant socialst swine that he is. God is a Capitalist. Money is to be earned not given.
    It's nothing more than X's and O's.

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

    No business (including our government) is too big to fail, and in many cases they need to fail, if the industry and or that company can be profitable, then it will be bought up by investors re-organized and be made profitable again. New management will avoid the same pitfalls that brought the company to it’s knees, and the cycle will begin again…. A government bail out only allows companies to be mismanaged and not worry about what could happen, because they know their actions hold no consequence to success or failure. Succeed and become a millionaire with bonuses and salary, fail and become a millionaire with bonuses and salary, because the government will guarantee it. That is what to big to fail promotes.

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