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View Full Version : Billions more for AIG

Valuist
03-01-2009, 11:55 PM
More of our money going to prop up this toxic company:

http://www.cnbc.com/id/29452304
JustRalph
03-02-2009, 12:46 AM
Does this shit ever stop?
kenwoodallpromos
03-02-2009, 02:19 AM
"according to several reports ****Sunday.

The new funding, the fourth government rescue of AIG [AIG Loading... () ] since September, is intended to support the New York-based insurer as it is expected to announce $60 billion in quarterly losses ****early Monday.

AIG's board approved the revised bailout ****Sunday.

An AIG spokesman was ****not available for comment. The Federal Reserve Bank of New York, which is handling the government loan, ****did not return requests for comment Sunday afternoon. Treasury Department spokesman Isaac Baker ****declined to comment."

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And the Neocons love the Feds taking stakes in the big corps (nationalizing), as long as the execs "earn" millions.
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"The awards may equal 100 percent to 300 percent of an executive’s annual salary, and as much as 100 percent for the next round of payments for lower-paid employees, the person said. The retention payments are several times larger than year- end bonuses, which most of the 130 executives will still get in March, the person said.
AIG said in the filing that the 130 payments included $3 million for retirement services chief Jay Wintrob. His award, almost 400 percent of his 2007 salary of $775,000, was the only one disclosed by AIG. While most recipients will get 60 percent of the money this month and the rest in December 2009, AIG said, Wintrob elected to get his first payment in April. "
PaceAdvantage
03-02-2009, 05:40 AM
Does this shit ever stop?A continuation of the Bush policies. Why the left continues to criticize a man whom Obama CLEARLY models himself after is beyond me...

What's that? Obama is keeping 50,000 troops in Iraq?

Can you say GWB II?
rastajenk
03-02-2009, 07:15 AM
I think I read somewhere recently that AIG manages Congressional pensions and benefits.
Valuist
03-02-2009, 07:57 AM
I've also heard that Goldman Sachs had a ton of counterparty exposure to AIG's credit default swaps and that if AIG went down, Goldman might've too. Of course when you have GS alums like Paulson and Geithner in high ranking positions, it looks more than coincidental.
jballscalls
03-02-2009, 11:45 AM
A continuation of the Bush policies. Why the left continues to criticize a man whom Obama CLEARLY models himself after is beyond me...

What's that? Obama is keeping 50,000 troops in Iraq?

Can you say GWB II?

I know, it sucks, hopefully Obama will quit spending and bailing people out like Bush did. You'd think Obama would try and learn from bush's mistakes and also from the things he did well and try and build on them. Unfortunately, towing the line is more important to him.
JustRalph
03-02-2009, 01:50 PM
Hey PA,,,,,,,,,, amazing how none of the Mainstream media pointed out that OBama's Plan to pull the troops is exactly the same as Bush's

very close indeed............. Amazing.......how far can the change go?
ddog
03-02-2009, 02:03 PM
aaaamazin..... mostly same advisors on mil and banking, mostly same policy!


wow , aaaaaamaazzzin!!!



Oh, and they are working SOOOOOOOO well.



:(
chickenhead
03-02-2009, 04:40 PM
like Val noted above...I'm sure everyone realizes AIG is not getting propped up so much as the people who traded with AIG that are getting propped up.

Which is too bad, buying insurance on debt default from a company that doesn't have the ability to pay off isn't such a hot idea to begin with.
ddog
03-03-2009, 01:42 PM
like Val noted above...I'm sure everyone realizes AIG is not getting propped up so much as the people who traded with AIG that are getting propped up.

Which is too bad, buying insurance on debt default from a company that doesn't have the ability to pay off isn't such a hot idea to begin with.


that default that was bought was used to hike capital so that the regs could be gotten around in order for the people that bought it to then use that funny cap to play in the big ponzi financial schemes that were going on.

letting AIG do the deals with nothing in reserve was dumb of the gvt , but the people they sold it to actually made out like bandits as they got the rewards all the while knowing i suspect that uncle sammy would have to bail if AIG went down.

I doubt they had a high prob placed on that, but they have made out fine so far.


I don't think GS was the one going down if no AIG bail.
I think it had more to do with the other players once removed.