AIG in talks with Fed over new Bail-out
- Thread starter Pepsei
- Start date
K1052
Elite Member
- Aug 21, 2003
- 46,039
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The idea was to use the original bailout money to buy time for AIG to sell off many of it's constituent parts to other companies. The credit markets seizing up and the need for many companies to preserve cash at all costs prevented this from happening.
cKGunslinger
Lifer
- Nov 29, 1999
- 16,408
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I hope LK shows up here to explain to us why this is also a great and necessary move and that we're all ignorant for daring to question it.
GTaudiophile
Lifer
- Oct 24, 2000
- 29,776
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- 81
This is the kind of thing I find hilarious when people talk about "not wanting to live in a socialist republic". We have pretty much since Reagan, when the government became a wholly owned subsidiary of the corporations in this country. Publicly held companies being bailed out by taxpayer dollars and you still think this is a capitalist economy?
More to the point, George Carlin put it best..."It's a big club, and you ain't in it! You and I are not in the big club!"
More to the point, George Carlin put it best..."It's a big club, and you ain't in it! You and I are not in the big club!"
Meh, I couldn't care less. Socialist or not, all governments are machinations of man that the natural world couldn't give a shit about.
We are all going to die some day. What kind of government a single country has, in the grand scheme of things, means very little.
Don't bother. Go to Bloomberg.com -- best site for current news all in one place. I miss the service (come to think of it, I miss my Wall Street job
)
Funny you mention that, but didn't GM ask for a meeting with Pelosi the day after Obama was elected? Pretty obvious they'd have a receptive ear if GM inferred of 10s of thousands of blue collar manufacturing jobs could be at risk...
Dammit, they're at it again!
AIG Execs get caught attending another SPA junket!
The article does go on to say that the amount might be recovered from sponsors, but still....this just really makes these guys look bad and seem very out of touch.
Okay, I say what should be done now is to fire the whole lot of them, and fine them for the amount spent of taxpayer's money.
AIG Execs get caught attending another SPA junket!
The article does go on to say that the amount might be recovered from sponsors, but still....this just really makes these guys look bad and seem very out of touch.
Okay, I say what should be done now is to fire the whole lot of them, and fine them for the amount spent of taxpayer's money.
With Bush and Cheney coddling and protecting them as insurance for when they leave office it ain't going to happen as long as they're still in control.
The Great Grand Giveaway has broken free of the restraints of logic and common sense and the looting of the national treasury is still running wild and unabated.
Thank You, Deregulators, yu've done a heck of a job. Not only have you emptied out the coffers, you've managed to insure your return with the horrible mess you've left at Obama's feet.
Why pay for WSJ, when you can get news from Bloomberg?
For all the hype about WSJ, I never saw anything spectacular about that paper the last 4 years I read it.
Our school had free subscriptions for business students living in our dorms.
Eventhough I wasn't a business student, I always took one every morning from the front desk that had someone elses name on it since most people don't read them anyway.
I would read WSJ for free.
However, I wouldn't subscribe to it using my own hard earned money when I can get the same information for free elsewhere within minutes.
The article links to AIG's response. 90% of the cost was picked up by the attendees or by sponsors. $34k to keep people happy selling your products is not a lot of money, when they brought in $200mm.
I expect the next 'gotcha' story will be something like, "AIG wastes 10's of $0.01's stocking its buildings bathrooms with 2-ply instead of 1-ply."
TallBill
Lifer
- Apr 29, 2001
- 46,044
- 62
- 91
Originally posted by: Lothar
Why pay for WSJ, when you can get news from Bloomberg?
For all the hype about WSJ, I never saw anything spectacular about that paper the last 4 years I read it.
Our school had free subscriptions for business students living in our dorms.
Eventhough I wasn't a business student, I always took one every morning from the front desk that had someone elses name on it since most people don't read them anyway.
I would read WSJ for free.
However, I wouldn't subscribe to it using my own hard earned money when I can get the same information for free elsewhere within minutes.
Because news is easier to read in paper form for me. If I read a long article online I lose focus. Same reason that I subscribe to Wired instead of read it for free.
Not only do I not care about local news, but the Chicago Tribune and Suntimes are garbage.
Well, I don't think it's a gotcha story. The AIG CEO said that he was going to stop these kinds of 'junkets'. Then, they try to cover them up. They just got caught again.
Secondly, I really don't care how much money they brought in. Those same executives also caused the company to be in the shape that it's in now. They don't deservce any kind of 'junket'.
Also, they still had to front the money, and who's to say (and also, who's going to check) to see if the sponsors do reimburse them from the fronted amount?
I'm starting to think it would have been better to let these guys fail. Unemployment's already up, and it's probably going to get still worse.
It's not the exec's that are going on these trips. It's the insurance agents who sell AIG products. It's industry practice to offer these types of perks to the top sellers.
Also, the response says that the costs were paid by the attendees / sponsors.
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