Page 5 of 7 FirstFirst ... 34567 LastLast
Results 41 to 50 of 68

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

  1. #41
    Banned
    Join Date
    Oct 2012
    Last Seen
    09-18-16 @ 03:33 PM
    Gender
    Lean
    Progressive
    Posts
    12,029

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

    Quote Originally Posted by PirateMk1 View Post
    Primarilly the depositors into the bank. They may lose a portion or all of their deposite. Satified?
    Read up a bit about the Depression and you may come to understand that banks and credit are not like other businesses that we can blithely let go under.

  2. #42
    Banned
    Join Date
    Oct 2012
    Last Seen
    09-18-16 @ 03:33 PM
    Gender
    Lean
    Progressive
    Posts
    12,029

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

    Quote Originally Posted by Henrin View Post
    The government is in breach of the fifth amendment pretty blatantly here. Just like they breached the fifth amendment by taking up shares of GM when they bailed them out.

    They didn't waste the money either considering the taxpayers came out ahead.
    Since the shares were worth nothing, your argument doesn't hold water. Nobody was willing to buy GM stock; it was going to be sold off in an asset sale and disappear. So the government "took" worthless stock and made it valuable again.

  3. #43
    long standing member
    justabubba's Avatar
    Join Date
    Dec 2005
    Last Seen
    Today @ 12:50 AM
    Gender
    Lean
    Independent
    Posts
    36,173

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

    Quote Originally Posted by Henrin View Post
    The government is in breach of the fifth amendment pretty blatantly here. Just like they breached the fifth amendment by taking up shares of GM when they bailed them out.

    They didn't waste the money either considering the taxpayers came out ahead.
    here is the complete text of the fifth amendment; please share with us the blatant breach committed by the US government:
    No person shall be held to answer for a capital, or otherwise infamous crime, unless on a presentment or indictment of a grand jury, except in cases arising in the land or naval forces, or in the militia, when in actual service in time of war or public danger; nor shall any person be subject for the same offense to be twice put in jeopardy of life or limb; nor shall be compelled in any criminal case to be a witness against himself, nor be deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use, without just compensation.
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    once you're over the hill you begin to pick up speed

  4. #44
    Banned
    Join Date
    Mar 2010
    Last Seen
    07-19-17 @ 03:51 PM
    Gender
    Lean
    Libertarian
    Posts
    60,458

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

    Quote Originally Posted by head of joaquin View Post
    Since the shares were worth nothing, your argument doesn't hold water. Nobody was willing to buy GM stock; it was going to be sold off in an asset sale and disappear. So the government "took" worthless stock and made it valuable again.
    My argument is not dependent on the value of the stock, but instead the existence of the stock being taken by the government. I'm sorry, but the government did not have the authority to take the stock, period.

  5. #45
    Sewer Rat
    Risky Thicket's Avatar
    Join Date
    Apr 2011
    Last Seen
    Today @ 01:17 AM
    Gender
    Lean
    Independent
    Posts
    23,820

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

    Quote Originally Posted by head of joaquin View Post
    Read up a bit about the Depression and you may come to understand that banks and credit are not like other businesses that we can blithely let go under.
    They did in Iceland.










    "When Faith preaches Hate, Blessed are the Doubters." - Amin Maalouf

    When trouble arises and things look bad, there is always one individual who perceives a solution and is willing to take command. Very often, that person is crazy. ~Dave Barry



  6. #46
    Educator
    Join Date
    Sep 2012
    Last Seen
    02-08-13 @ 10:14 AM
    Lean
    Libertarian - Left
    Posts
    843

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

    Quote Originally Posted by Henrin View Post
    My argument is not dependent on the value of the stock, but instead the existence of the stock being taken by the government. I'm sorry, but the government did not have the authority to take the stock, period.
    First off, they were purchased, as in funds were paid AKA invested. Second off, loss of ownership (stock) by stockholders is standard, and zero payout common, when a company goes bankrupt. They are last in line for payout. Are you seriously questioning the Constitutionality of bankruptcy law via the 5th?

    Cripies on a bike.
    Last edited by Dwight; 01-09-13 at 11:51 AM.

  7. #47
    Educator
    Join Date
    Sep 2012
    Last Seen
    02-08-13 @ 10:14 AM
    Lean
    Libertarian - Left
    Posts
    843

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

    Quote Originally Posted by Risky Thicket View Post
    They did in Iceland.
    In Imaginaryuniverse, maybe. Not so much here in reality.

  8. #48
    Banned
    Join Date
    Mar 2010
    Last Seen
    07-19-17 @ 03:51 PM
    Gender
    Lean
    Libertarian
    Posts
    60,458

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

    Quote Originally Posted by Dwight View Post
    First off, they were purchased, as in funds were paid AKA invested.
    It doesn't matter if they were purchased. The terms of the sale was forced on the seller.

    Second off, loss of ownership (stock) by stockholders is standard, and zero payout common, when a company goes bankrupt. Are you seriously questioning the Constitutionality of bankruptcy law via the 5th?
    Yes. Without a choice to accept their compensation they are just getting whatever they desire from me by throwing cash in my direction regardless if I want to sell or not.
    Last edited by Henrin; 01-09-13 at 11:59 AM.

  9. #49
    Global Moderator
    Bodhidarma approves bigly
    Andalublue's Avatar
    Join Date
    Feb 2010
    Location
    Granada, España
    Last Seen
    12-16-17 @ 01:21 AM
    Gender
    Lean
    Libertarian - Left
    Posts
    26,111

    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
    You know they wrote a song just for them?

    "The crisis will end when fear changes sides" - Pablo Iglesias Turrión

    "Austerity is used as a cover to reconfigure society and increase inequality and injustice." - Jeremy Corbyn

  10. #50
    Sage
    Dittohead not!'s Avatar
    Join Date
    Dec 2009
    Location
    The Golden State
    Last Seen
    Yesterday @ 08:40 PM
    Gender
    Lean
    Libertarian
    Posts
    41,596

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

    Just a couple of observations:
    The government can force a sale. It is called imminent domain.
    The government did not decree that GM sell stocks to Uncle Sam or go bankrupt. Market forces and dunderheaded management mistakes did that.
    There are plenty of real attacks on the Fifth Amendment without inventing some that don't exist.
    "Donald Trump is a phony, a fraud... [he's] playing the American public for suckers." Mitt Romney

Page 5 of 7 FirstFirst ... 34567 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •