Comments on: U.S. Announces $85 Billion Bailout Of AIG

Federal Reserve Makes Emergency Loan To Keep Global Insurance Giant Afloat, Avoid Deepening Financial Crisis

[brianbwb-2009]

"I support the steps taken by the Federal Reserve tonight to assist AIG in continuing to meet its obligations, mitigate broader disruptions and at the same time protect taxpayers," Paulson said in a statement."

Paulson is now confirmed as a lying, flip-flopping sycophant, who has been converted over the weekend to the reverse of his previous position. How much did the sale of your remaining credibility get you, Paulson? I suppose you''re going to be voting Republican then.

Any person with real honor would have told the truth, "I was against using your money to bail out private firms, but those higher up than I have told me to suck it, swallow, and act like I like it, so I have no choice." Then such an honorable person would have resigned.

Put the gun to the roof of your mouth Paulson, it may leave a mess, but at least we won''t have to pay while you linger in ER, and later as an okra.

[element51]

kassandrasdu.....Do you remember where you read about Palin being groomed? I would like to have access to that information. From the moment I heard of her I have thought that something was not quite right. You know, that feeling you have that something is out of place but you just can''t put your finger on it? It just seemed odd to me that here comes this woman, right out of left field, who has never been mentioned on the national scene and suddenly she''s sitting on the right hand of God. I''m tellin you people, something is rotten in Denmark!

[brianbwb-2009]

"It might not just bring down other financial institutions in the U.S. It could bring down overseas financial institutions," said Timothy Canova, a professor of international economic law at Chapman University School of Law. "If Lehman Brother''s failure could help trigger AIG''s going down, who knows who AIG''s failure could trigger next."

But Mr. Canova doesn''t show why we should care what happens to these "other financial institutions in the US," or those abroad, or why we should allow the corruption that got AIG, and those businesses connected to it, into this situation to go unpunished.

If we pay for it, we own it, so we should now be 79.9 percent owners of the company, and so have the right to vote out the corrupt upper management, and require a return of performance bonuses, indeed even salary retroactive to when the business first deceived the public about the health of the company.

[harrymorley]

It alls boils down again, to idiots lending idiots money. When greed and an unbridled desire to make obscene profits clouded good judgement, the house of cards became unstable and collaped. Was it any wonder?

[donlb-2009]

My advice is to be afraid of politicans who say one thing and do another. McCain is de-regulator, and all of his rhetoric about how we need to get the govt off our backs is just plain hogwash. WE ARE THE GOVT. The govt serves us, and not us them. Please remember what Lincoln said at Gettysburg, that a govt "of the people, by the people, for the people shall not perish from the earth." It is still true?? What do you think??

[element51]

DonLB.....Don, I remember just after Reagan was elected and started de-regulating everything in sight. I said at the time that it was a big mistake and would cause some major problems. I was laughed at and people said I was just being paranoid. Then, as time progressed and the Soviet Empire imploded everyone was quick to give all the credit to Reagan. It was Russia''s war in Afghanistan that brought them to their knees, not Reagan. They simply spent themselves into oblivion...just like we are doing in the middle east now. It was government regulation that brought us out of the Great Depression and we need to take a look back at some of those policies and apply them today. But you are right. Palin/McCain will do everything they can to destroy any regulation that still exists because that opens the door to the greedy right wing elites who want to destroy the middle class. Frankly, for the first time in my life I''m afraid and I''m not even sure what I''m afraid of. Very confusing times.

[harp1963]

We have become the laughing stocks of the entire world under the leadership of George Bush.

[harp1963]

I wonder who the unlucky President will be in the future who will have to tell retired Americans that the money that they have been sending the government out of ever paycheck for the last 30, 40, or 50 years of their working life, is gone and they have no idea where it went?

[donlb-2009]

It is not $155 billion but currently $223 billion - $85 billlion bailout of AIG, $87 billion that JP Morgan loaned AIG and was immediatly repaid by the Fed and then another $51 billion from JP Morgan loaned to AIG that the Fed will probably repay tomorrow. When it is all over, I would not be surprised if Goldman Sachs fails and we round out the bailout to an even $1 trillion. We can all kiss universal health coverage goodbye. What do you say???

[hermitdave]

If republicans prove anything it is that life is so much better for the rich and they want to keep it that way.

[shanev137]

We are powerless against the will of our government.

Posted by Sky_Five at 12:09 AM : Sep 17, 2008


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Actually we are not.

What we''re powerless against are all the hundreds of millions of Americans who are absolutely 110% completely head-over-heal in love with the way our government currently functions.

Most people in America love the feeling of being a victim and being beaten down.

What''s happening in our government right now is the complete and total will of all Americans.

[chyenna-2009]

who''''s next? how many more are we going to bail out?


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Posted by bushisadik at 09:57 PM


How about bailing out "we the people".

[shanev137]

Republicans are the masters of corporate welfare.

[Frankie58]

Answer me this, in the last 48 hours, the government has mysteriously "found" $155 billion dollars. Where did it come from???

[stn_sage]

As Nancy Pelosi said today, "The Bush administration has found a way to privatize the gains of financial institutions and nationalize any losses."

Posted by mtracy99 at 11:56 PM : Sep 16, 2008
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I don''t care what she says about it! I care what she''s going to DO about it! And that means, she''s probably going to bend over backwards AGAIN---and take it up the you-know-what! Which, isn''t going to help the public one iota!

Hey, you Californians! How about doing the rest of the country a big favor and voting her the h3ll out of office!

[arthurcl1]

Privatizing social security- "I''''m John McCain and I aproved such lunacy."
Now I want you to believe I''''m going to shake up the crooks on Wall Street. No more Casinos with your money.
Thank God he and Emperor Bush didn''''t get their way or we would already have panic in the streets

[closethippy1]

what was called "strategic deficits" in reagan/bush time is now coming to pass. i read an interview of a rep. that listed all the possible thing that had to be cut by the next president, but at least reagan had common sense and raised taxes the highest in history to correct the damage.
bush/cheney however either are utterly incompetant or devilishly extremist. you decide. all i know is the represenative laid out exactly what faces government in the future. what will be cut? Something has to be
to damage the economy to force cutbacks like republicans say they want.
Posted by egresor at 11:48 PM : Sep 16, 2008

That''s exactly what I''ve been saying about Republicans since Reagan got to power: They want to spend tax money to make wars and to give it to their corporate buddies to force the US to give up public schools, welfare, health care, etc.
But instead, they''ve destroyed the economy and now the US is about to implode.
What a disaster this has become.

[stn_sage]

Posted by wjksea at 11:48 PM : Sep 16, 2008
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GOOD! I''m glad it''s sarcasm. Because we''ve got enough
dummies who don''t understand that McCain-Palin will be almost exactly like Bush! T-R-O-U-B-L-E! And that spells trouble! We don''t need anymore!

[dewain4]

Insurance companies traditionally like to reduce moral hazard, which is the increased likelihood of insured individuals to engage in risky behavior. This and other recent bailouts will increase moral hazard, as companies will take more risk, and large investors will encorange riskier behavior, since they know that Uncle Sam can bail them out. Moreover, the ill-defined reasoning behind bailing out AIG and Bear Stearns but not Lehman will encourage more failing companies (e.g., auto makers) to seek government help.

[stn_sage]

The Federal Reserve needs to be brought into receivership or conservatorship for bankruptcy re-organization by Congress.

Posted by whitemale08 at 11:15 PM : Sep 16, 2008
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That''s an excellent suggestion! IT can be part of the new plan to NATIONALIZE the banking/investment industry! GREAT! We''re on a roll, here!

Look, if our elected public officials won''t do the job, than maybe WE the public better start coming up with the ideas and taking ACTION!

The first thing we can do, is start voting some of these DO-NOTHINGS out of government!

At least they''d no longer get paid for bungling almost everything!