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Old 09-17-2008, 01:22 AM   #11
creekster
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I'm glad that my tax money is going to save AIG, and all their rich cronies. Very nice.

Better still, it looks like you are going to be a part owner of AIG! What a country!
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Old 09-17-2008, 01:32 AM   #12
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I'm glad that my tax money is going to save AIG, and all their rich cronies. Very nice.
Do what I do Mike - put your money in Mason jars and bury them in your backyard.
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Old 09-17-2008, 01:40 AM   #13
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Here's the question:

In the event of insurer insolvency (which is the path that AIG is on), the government is obligated to step in and take over the business. Is it better to step in before insolvency or after?

Government intervention is going to happen either way. Does "proactive" intervention mute the huge ripple effect in the market that the failure of a company that employs 116,000 people and insures 74 million people worldwide creates, thereby preventing the need to intervene elsewhere as fallout spreads like a virulent disease?

Pick your poison. One might just temporarily paralyze you, the other will kill you and leave your lawn a toxic waste dump.
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Old 09-17-2008, 02:11 AM   #14
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Originally Posted by Indy Coug View Post
Here's the question:

In the event of insurer insolvency (which is the path that AIG is on), the government is obligated to step in and take over the business. Is it better to step in before insolvency or after?

Government intervention is going to happen either way. Does "proactive" intervention mute the huge ripple effect in the market that the failure of a company that employs 116,000 people and insures 74 million people worldwide creates, thereby preventing the need to intervene elsewhere as fallout spreads like a virulent disease?

Pick your poison. One might just temporarily paralyze you, the other will kill you and leave your lawn a toxic waste dump.
Bullshit. This company was covering financial instruments for other companies.

Now instead of letting the dead man die we turn him into a taxpayer owned frankenstein.

I love this. We are finding out who the true conservatives are. Indy is pathetic.
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Old 09-17-2008, 02:12 AM   #15
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The regular insurance part of this company is perfectly healthy and would have been sold, so take your ignorant fear-mongering some place else.
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Old 09-17-2008, 02:23 AM   #16
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It's time to start a business! Private profits and socialized losses! What a country.
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Old 09-17-2008, 02:24 AM   #17
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It's time to start a business! Private profits and socialized losses! What a country.
the trick is that you have to big enough and irresponsible enough that if you go down, lots of powerful and rich people go down. the govt. won't let you go down.
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Old 09-17-2008, 02:41 AM   #18
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The regular insurance part of this company is perfectly healthy and would have been sold, so take your ignorant fear-mongering some place else.
Having worked for a company whose "regular insurance part" was healthy and went Chapter 11 anyway (Conseco), I'll file your response in the newly expanded "Ignorant Waters comments" warehouse.
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Old 09-17-2008, 02:49 AM   #19
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Having worked for a company whose "regular insurance part" was healthy and went Chapter 11 anyway (Conseco), I'll file your response in the newly expanded "Ignorant Waters comments" warehouse.
and who lost their insurance as a result? that's right, no one did.
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Old 09-17-2008, 02:53 AM   #20
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and who lost their insurance as a result? that's right, no one did.
Quote:
Global ripples if firm were to fail

The failure of AIG could have caused unprecedented global ripple effects, said Robert Bolton, managing director at Mendon Capital Advisors Corp. AIG is a major player in the market for credit default swaps, which are insurance-like contracts that guarantee against a company defaulting on its debt. Also, it is a huge provider of life insurance, property and casualty insurance and annuities.

"If AIG fails and can't make good on its obligations, forget it," Bolton said. "It's as big a wave as you're going to see."
http://money.cnn.com/2008/09/16/news...ex.htm?cnn=yes
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