• This is a political forum that is non-biased/non-partisan and treats every person's position on topics equally. This debate forum is not aligned to any political party. In today's politics, many ideas are split between and even within all the political parties. Often we find ourselves agreeing on one platform but some topics break our mold. We are here to discuss them in a civil political debate. If this is your first visit to our political forums, be sure to check out the RULES. Registering for debate politics is necessary before posting. Register today to participate - it's free!

AIG sells $39.3 billion in assets to NY Fed's fund

J

Jackboot

Banned
Joined
Sep 1, 2009
Messages
744
Reaction score
144
Gender
Undisclosed
Political Leaning
Undisclosed
What do you think is wrong with this picture?:confused:

NEW YORK (Reuters) - American International Group (AIG.N), the insurer bailed out by the U.S. government in September, said on Monday it sold $39.3 billion of assets to a fund established by the Federal Reserve Bank of New York.
The new fund, Maiden Lane II, was created to hold mortgage liabilities from an AIG securities lending portfolio that caused huge losses to the troubled insurer, the company said in a press release.

The New York Fed extended the loan to Maiden Lane II to enable the purchase of the securities for $19.8 billion.

AIG, once the world's largest insurer, said it agreed to add $5 billion in cash to the fund, which will eliminate liquidity issues associated with the company's securities lending program and facilitate the repayment of its debts.

The deal is part of a plan to clear the insurer of its obligations on mortgage debt.

The need to post increasing amounts of collateral to counterparties for other mortgage assets held by a financial products unit left AIG with $42.5 billion in losses over the last year.

AIG sells $39.3 billion in assets to NY Fed's fund | Reuters
 
Still selling bad debt......;)
I want to see how long the house of cards can last....;)
 
Oh....they are indeed selling, and you are close my friend, but who is doing the buying, and with what?:confused:
 
They are paying off bad paper wiith more bad paper....;)
Bonney Fwank & co. really stuck it to us....:(
Wait 'til the tax increases hit....:shock:
 
Partisan said:
They are paying off bad paper wiith more bad paper....;)
Bonney Fwank & co. really stuck it to us....:(
Wait 'til the tax increases hit....:shock:
Click to expand...

Indeed, and they told us they would not monetize the debt, they lied, the fed lied to the american people, to congress, and no one is discussing this!

WTH?:confused:
 
Jackboot said:
Indeed, and they told us they would not monetize the debt, they lied, the fed lied to the american people, to congress, and no one is discussing this!

WTH?:confused:
Click to expand...

Honestly, what did you really expect?......:(
 
Jackboot said:
Indeed, and they told us they would not monetize the debt, they lied, the fed lied to the american people, to congress, and no one is discussing this!

WTH?:confused:
Click to expand...

WTF are you even talking about? The debt monetization that is illegal, and dangerous is when the Fed buy's the debt DIRECTLY from the treasury....

This is nothing more than a new tool used in open market operations....
 
Today's media is not what it used to be. Journalism was considered a high calling that was impartial with opinions limited to the Editorial or Op-Editorial pages only (or its equivalent). Unfortunately everything in the media is opinion based now. Part of the reason my wife quit the field and gave it up.
 
Goldenboy219 said:
WTF are you even talking about? The debt monetization that is illegal, and dangerous is when the Fed buy's the debt DIRECTLY from the treasury....

This is nothing more than a new tool used in open market operations....
Click to expand...

Some people just cannot be reached..........:doh
 
So, what is the true value of these 'assets'?
 
Goldenboy219 said:
Do you have the slightest idea what you are actually ranting about?
Click to expand...

I do, do you?

What money is the fed using to buy these assets, do you even realize we are broke, we do not have money to buy assets, do you know this, this glaring obvious fact, do you know we are 100 trillion dollars in debt, when you add the promises this government has made, do you know this is the longest run on sentence in the history of run on sentences?:lol:
 
Jackboot said:
I do, do you?

What money is the fed using to buy these assets, do you even realize we are broke, we do not have money to buy assets, do you know this, this glaring obvious fact, do you know we are 100 trillion dollars in debt, when you add the promises this government has made, do you know this is the longest run on sentence in the history of run on sentences?:lol:
Click to expand...

The Fed has the ability to create money out of thin air, and the way they increase the money supply/lower interest rates is buy purchasing (with newly created dollars) assets. Due to the new facilities created, the Fed can now purchase various MBS's which is what they are describing in the article.

BTW, please elaborate on that $100 trillion dollar comment. This ought to be good!
 
Goldenboy219 said:
The Fed has the ability to create money out of thin air, and the way they increase the money supply/lower interest rates is buy purchasing (with newly created dollars) assets. Due to the new facilities created, the Fed can now purchase various MBS's which is what they are describing in the article.

BTW, please elaborate on that $100 trillion dollar comment. This ought to be good!
Click to expand...

Sure, from the federal reserve themself, read it, I know it may be frightening, it is, I agree, but read it carefully.......

Storms on the Horizon - Richard Fisher Speeches - News & Events - FRB Dallas
 
Goldenboy219 said:
LOL, you really do not understand do you?



Thanks for playing.... :2wave:
Click to expand...

A word of advice, remove the "libertarian' tag from your bio, you are not intelligent enough to even be considered for the party.
 
Now, for the rest of the adults here, how long can we possibly expect this ponzi scheme to operate, before the rest of the world calls in their chips?:shock:
 
when tarp was rejected in the house, stocks fell 777 points.
 
Jackboot said:
Now, for the rest of the adults here, how long can we possibly expect this ponzi scheme to operate, before the rest of the world calls in their chips?:shock:
Click to expand...

Do what North Korea just did, make some new bills & say the old ones are worthless & can't be traded in.....
Same thing with T bills.....:)
 
the financial crisis started when paulson decided to let lehman evaporate.
 
Jackboot said:
A word of advice, remove the "libertarian' tag from your bio, you are not intelligent enough to even be considered for the party.
Click to expand...

You ought to be quite careful about throwing stones when your proverbial house of intellect is made of glass.

Regardless, you have failed on all accounts here, and your fear mongering only further illustrates your lack of knowledge in regards to the political economy.
 
Partisan said:
Do what North Korea just did, make some new bills & say the old ones are worthless & can't be traded in.....
Same thing with T bills.....:)
Click to expand...

Give that man a prize, this is what is coming, now what do you think we will get for our old bills, how much on the dollar, a dime, if we are lucky, I am thinking more like pennies!:shock:
 
scottsoperson said:
the financial crisis started when paulson decided to let lehman evaporate.
Click to expand...

You are quite correct. That started to put pressure on a serious run on our financial system (and all international integrated systems for that matter).
 
Goldenboy219 said:
You ought to be quite careful about throwing stones when your proverbial house of intellect is made of glass.

Regardless, you have failed on all accounts here, and your fear mongering only further illustrates your lack of knowledge in regards to the political economy.
Click to expand...

"political economy"

There you go folks, feel free to point and laugh, if you dare!:shock:
 
You must log in or register to reply here.
Back
Top Bottom