Yet another Govt. bailout of a private organization. This makes me ill. I'm so sick of the way this Govt. is heading.
I think all these bail outs are crap. I also don't see how its the fault of the Govt regardless of who is in the WH. I see it as the fault of : 1. The dumba$$ who bought a house he could not afford 2. The lender who allowed he/she to borrow said money. If you make 40k a year, you have NO business buying a 250k house.
Throw you under the bus in what manner. This comment wasnt directed towards you. I have no desire to throw you under the bus. You voluntarily jump in front of it yourself. just kidding. but seriously what the hell do you mean?
If the Feds hadn't stepped in, AIG goes under which means I'm out of a job and 25 years worth of retirement benefits go down the tubes. As I told Red in a PM, the conservative side of me is uneasy about the Government intervention but the gainfully employed side of me is thrilled.
Well shyt, I figured you had some kind of ties to the company just through your conversation. But by no means Im I advocating for you to lose your job or benefits, something you have earned and worked hard for. The conservative side of you is at a deep conflict with the side of you that wants to keep a job. Which I understand, but you have to be pragmatic in the hypocrisy of the entire matter. Its socialism to you when somone gets a welfare check or a infant gets milk from WIC or unemployment benefits. Or redistribution of wealth and so on. But this is ok that Bush himself has decided which companies get bailed out and which dont. Its socialism, just for these rich companies. But screw the poor people is the principle here. That to me is wrong. Hell know I dont want you to lose your job, you have bust your ass for years and you deserve more than this.
Corporate welfare at its worst. The party that promotes government non-interference in commerce is now overseeing the government becoming involved in the mortgage business and now becoming a de-facto owner of an insurance company. What's wrong with this picture? Having trumpeted de-regulation for almost 30 years, Republicans now want to bail out the greedy, mismanaged corporations with $Billions of borrowed money. What would be better and FAR cheaper is to reinstate proper regulations again that prevent this kind of corporate greed from happening. Worse, overseas lenders are not buying treasury bills like they have in the past. Expect the dollar to continue falling and for inflation to eat up all of our savings that survive the market collapse. Time for a change in Washington folks, McCAIN HAS BEEN A CHAMPION OF DE-REGULATION FOR 26 YEARS. Look at what it has bought us.
In defense of the decision to loan the money, AIG is a huge player and if they went defunct, the ramifications would be far reaching. In addition to 90,00 people joining the ranks of the unemployed, AIG has bonded thousands of construction projects, has millions of dollars in claims that need to be paid (and they are being paid) and insures just about every Doctor, Hospital and Nursing Home in the country. AIG underwrites life insurance policies literally around the world. Bush, or his underlings,didn't just "decide" to bail out AIG to help some corporate cronie. The decision was made with the best interests of the country at stake. The CEO on whose watch this went down was dismissed a month ago.
