Better Rig Up Another Bilge Pump Boy's, We're Sinkin',

[seapower]

Well we've just given AIG another "few" billion $$$$. Other than taxes, does this make us share holder's now. Why not pump money into the businesses that have been sucessful??? I'm not ready to throw in the towel, by any mean's. It's been said that sucsessful manager's suround themselve's with sucsessful people. I like the odd's of betting on a horse that's won a few races myself. It may be time to start loosing some dead weight. You can't keep pumping good into bad, especialy when what you're pumping is borrowed. This WELL has a bottom. I don't know what the answer is, or what course to steer. But I feel pretty darn sure this ain't it!!! Frank,SeaPower

[nautiduck]

Well Frank I dont think A bilge pump is gonna help I just wish they would blow a whole in the bottom, and sink the ***** so we can start the salvage op.

[iguana1]

In theory, I think everyone would like to see AIG go down in a death spiral. The problem is they wrote so much 'insurance' (CDOs) to other major entities that they would destroy many other balance sheets, stockholders and depositors on the way down. AIG defines 'too big to fail'.

[Dave Sikorski]

There should be no such thing as "Too big to fail"

-D

[obxfish]

There should be no such thing as "Too big to fail"

-D

I always thought that too; ABC had interesting piece on evening new re AIG. Seems they wrote all (or A LOT) of the mortgage insurance for the banks, so banks are coming to them now to pay off the bad loans. 70+ million customers worldwide. I think if AIG goes down, a LOT of banks fail=Great Depression #2. Thats why no matter what, government will prop them up.

[nautiduck]

I always thought that too; ABC had interesting piece on evening new re AIG. Seems they wrote all (or A LOT) of the mortgage insurance for the banks, so banks are coming to them now to pay off the bad loans. 70+ million customers worldwide. I think if AIG goes down, a LOT of banks fail=Great Depression #2. Thats why no matter what, government will prop them up.

So if the Govt is going to be backing up these loans anyway, why dont they do it directly for these other banks and let AIG go down seize all of their assets and the assets of the execs that approved the mess to begin with.
For that matter why dont they go and start seizing the riches from these people that sold and the managers and execs that approved the "bad" loans and start funneling that cash into the bailout.

[Big Fish Billy]

Well Frank I dont think A bilge pump is gonna help I just wish they would blow a whole in the bottom, and sink the ***** so we can start the salvage op.

I'm with this guy...

[Dave Sikorski]

I always thought that too; ABC had interesting piece on evening new re AIG. Seems they wrote all (or A LOT) of the mortgage insurance for the banks, so banks are coming to them now to pay off the bad loans. 70+ million customers worldwide. I think if AIG goes down, a LOT of banks fail=Great Depression #2. Thats why no matter what, government will prop them up.

AIG made bad decisions and now we're being asked as taxpayers to prop them up with money WE DON'T HAVE.

There are plenty of aspects of AIG that are profitable and could be sold off.

This is politics, plain and simple and we're all getting screwed.

Welcome to the age of not being held accountable for doing wrong. It's seems to me that we've totally forgotten about a principle that kindergarten children know. Two wrongs don't make a right.

Bankruptcy was set up for a reason, why not use it?

-D

[Big Jay]

They won't let AIG fail because essentially then the world would fail. AIG insures so much shit overseas and internationally. Personally i don't care, let the ***** go belly up. Uncle sam won't have it though. So we'll just keep pouring money into a sinking ship.

[Dave Sikorski]

Do any of these guys know what will happen?

When is the last time the Federal Govt got anything right?

-D