AIG to Dole Out $165 million in Bonuses

They would have to go and get insurance from some place else!
Imagine if we went back from socialism to capitalism for a moment.
We should let the bad businesses fail and make room to let the good businesses succeed.
We need to reward success not failure.

Most likely, Obama's policies will probably create a depression anyway just like FDR made it worse Obama probably will as well.
The tax payers bailing every failing part of society will create a long term recession or depression anyway, this country is spending money it doesn't have, we will be too damn poor in years to come.
The money doesn't grow on trees and I assure you we will feel the pain one day.
I never thought I'd see the day I would actually agree with Rex on something!:insane:

 

Either way we were going to take on parts of socialism. With AIG gone, there would not be enough capacity to supply the world's insurance needs. What then? Government sponsored insurance? Not to mention it would start a domino effect and take out the banks as well. Trust me, I despise the thought of bailing out a company that is unhealthy, but the one thing that Obama has said that I think people need to very much listen to is that we cannot govern out of anger. We can't let our financial system crash because AIG screwed up. We had to do something there. And i don't consider it rewarding failure. The market capitalization of the company has fallen about 99%. Owners of AIG are getting crushed.

I agree wholeheartedly. Like I said before, let every other industry crash and burn. It will be painful, but we can handle it. We can't let the financial industry collapse and I tie AIG in with them.

We are definitely in a world of trouble with our monetary policy. I'm actually reading a book on how to survive in a hyperinflationary period in case that's where we end up.

 

I'll take that as a compliment. haha

And I don't buy what Mobius is saying. AIG is not the end all to all thing financial. And I yes I do believe the other insurance companies could soak up most of the new business. Hell isn't this the business that SF keeps ranting as being the good part of AIG? What company would pass it by then?

I think us taxpayers should vote who wants to be apart of this socialist tendency and who doesn't.

 

Fair enough, point well taken.
One thought comes to mind, how in the hell did we ever get to this point in the first place?
I have a family and two kids and maybe I missed something along the line?
Maybe just a domino effect?

My first thought was that people would have to do without insurance, that seems to be a gamble like anything else including the stock market.
Speaking of that, why the hell don't we bail out all those individuals who lost money from the stock market and 401Ks instead of big businesses.
I don't know, I'll have to listen and think this out a little bit more!

 

Its starting to seem like Halloween, scary!

 

No and neither do I pretend to know it all. I just know what I know.

We're not talking about auto and homeowner's coverage here. There are very few, if any companies that could take on the coverages AIG had. It's obviously very risky and would require huge amounts of capital which isn't there right now.

No. That would be AIU Holdings, Inc, my current employer.

Oh that's right. You can vote at age 18 now.

 

Wow your fiction gets better each day..

 

I truly don't care what you think because you've shown yourself to be an ignorant blowhard with little knowlege of the things you profess to espouse. However, for the benefit of the more openminded forum members, I'll dispense a few facts about the bonuses:

*The contracts, put in place more than a year ago, were intended to maintain stability at AIGFP when the large risks related to AIGFP transactions starting coming to light.

*Absent a change in the law, AIG owes the money. Not paying it would subject AIG to further damages.

*The people getting the money are not the people that caused the problem. Those that caused the problem are long gone. Those that were left were needed to help unwind an extraordinarily complex and large book of derivatives. There is still a boatload of exposure in that book that can only be resolved successfully through the application of great skill and care.

Now, the media can scream and holler all day long, but to what end? AIG is not going to be fed to the hogs and people may as well understand that.

By the way:

http://www.aiuholdings.com/_20_150385.html

 

I think the biggest problem I have with it is this.

If the government had not bailed them out, they would not be paying the bonuses.

 

OK. Put the entire economy in the tank to save $160 million. Brilliant!