AIG bailout: Taxpayers profit $15.1 billion

[TakeAStepBack]

Was the interest payments on the debt money figured into the "profit" made by such a crony socialist transaction?

 

[Quantum Windbag]

Ok Kreskin

Alright, prove me wrong. What WOULD BE the effects of a banking system collapse all over the world?

There was no prospect of a world wide banking system collapse though, was there?

 

[DiamondDave]

All that matters is that the Bush administration decided it was worth putting scotch tape on your so-called house of cards. Obama just made sure that the tax payers were fucked less than the corporate morons.

It worked.

Tell that to all of the people who still don't have a job, while those corporate morons are rolling in tax dollars.

Too bad that Obama isn't a socialist. At least he helped protect the American taxpayers from getting hosed by the right wing corporatists.

Yeah.. government intervention into private business financials and dealings is not being socialist in nature...

you are a fucking nutjob on top of being an idiot and a liar

 

[Mustang]

Ok Kreskin

Alright, prove me wrong. What WOULD BE the effects of a banking system collapse all over the world?

There was no prospect of a world wide banking system collapse though, was there?

What do you think? Even WITH the bailout, there was a credit freeze that essentially froze most short term lending which is how business finances operations.

 

[longknife]

Did you actually read the piece?

Treasury Dept. Wraps Up TARP Bailout of AIG by Selling Assets to China

Big Government blog gives us this news @ Treasury Dept. Wraps Up TARP Bailout of AIG by Selling Assets to China with links

The Treasury Department announced on Monday that it would unload its remaining shares of American International Group (AIG), the infamous insurance giant that received $182 billion in bailout money from the Troubled Asset Relief Program (TARP).

As part of the divestment plan, AIG will also sell its aircraft leasing business (ILFC) to a Chinese consortium.

The deal will give China “access to a global network of about 200 airlines in 80 countries.”

According to Reuters, taxpayers that bailed out and now own AIG will lose out in the deal because the $4.8 billion sale is “at a far cheaper price than AIG sought and will lead to a substantial loss.”

As the USA continues to lose its place in the world ….. Thank you to those who voted for another four.

 

[Koios]

According to Reuters, taxpayers that bailed out and now own AIG will lose out in the deal because the $4.8 billion sale is “at a far cheaper price than AIG sought and will lead to a substantial loss.”

Pie in the sky opportunity-loss estimates are meaningless. Let's up the market-price guesstimate a few bux a share, and now how much have we "lost?"

Stupid.

Plus, truth be told, selling at a profit oversteps what government should do. If anything, we all should have recieved shares, spread evenly across the population, and let individuals decide what to do with them. Some would have kept, some would have sold and the myth of supply and demand forces in our economy, can actually exist for a nanosecond.

 

[TakeAStepBack]

 

[g5000]

I agree with Dave. Let the chips fall as they may. If it resulted in a financial disaster for us? So be it. We should be the generation to suffer for it...afterall, all we really did was kick the can down the road...and since? We are on the "fiscal cliff" and "brink of a recession" and "debt up to our eyeballs" and "threat of downgrading the US".....on a regular basis....

Sorry, only those heralding "trickle down / funnel up" should be responsible and suffer. The rest of us saw what was coming a mile away. This is what happens when you let corporations "police" themselves and allow for shady business dealings for short-term gain - and plan on letting John Q Public deal with the aftermath. It's like you're all drunk on Enron's flat koolaid. Why should main street pay the price (and THEY are the ones who would have paid the price) for the private sector's criminal actions? Legal or not, they are still absolutely criminal.

How in the world did you ever come to believe Main Street has NOT paid the price?

.\

 

[Mac1958]

Alright, prove me wrong. What WOULD BE the effects of a banking system collapse all over the world?

There was no prospect of a world wide banking system collapse though, was there?

What do you think? Even WITH the bailout, there was a credit freeze that essentially froze most short term lending which is how business finances operations.

This is a critical point that many people don't, or won't, understand.

Short term financing is the way most businesses fund their day-to-day operations. Credit markets were frozen at the top and quickly working their way down to Main Street. By the fucking hour.

A small or medium-size business has to take short-term loans to pay bills, buy inventory, make payroll as it waits for accounts receivable to come in. That's how capitalism works, holy crap. And credit markets were freezing up all the way down the line. That's what causes a fucking depression.

As much as I hate it, if the government hadn't acted when and how it did, businesses of all sizes would have been closing their doors within weeks. And shelves at the grocery store would have been empty. The velocity of money had stopped.

God damn, this is fundamental business fucking economics. They had no choice, and only people who don't understand how business economics works would think that months and years of bankruptcy proceedings would have stopped the end of our economy as we know it. Holy crap.

.

 

[tjvh]

It looks like we were all wrong. The taxpayers will make a profit off the AIG bailout after all.


"Taxpayers will soon shed their last holdings in the American International Group, more than four years after a rescue by the federal government during the most chaotic days of the financial crisis….

…..At the time, critics feared that the company would be forced into a fire sale of assets to repay those loans, a sale that would deeply shortchange taxpayers.
Instead, the federal government has said that it expects to walk away from A.I.G. with a profit — about $15.1 billion to date, by the Treasury Department’s reckoning. That has followed both a steady stream of stock sales over the last two years and a resurgence in the insurer’s core operations….."

Bailout Over, U.S. Treasury Plans to Sell A.I.G. Shares - NYTimes.com

So now an evil corporation is good for America... Will you liberals ever make up your minds?

 

[TakeAStepBack]

There was no prospect of a world wide banking system collapse though, was there?

What do you think? Even WITH the bailout, there was a credit freeze that essentially froze most short term lending which is how business finances operations.

This is a critical point that many people don't, or won't, understand.

Short term financing is the way most businesses fund their day-to-day operations. Credit markets were frozen at the top and quickly working their way down to Main Street. By the fucking hour.

A small or medium-size business has to take short-term loans to pay bills, buy inventory, make payroll as it waits for accounts receivable to come in. That's how capitalism works, holy crap. And credit markets were freezing up all the way down the line. That's what causes a fucking depression.

As much as I hate it, if the government hadn't acted when and how it did, businesses of all sizes would have been closing their doors within weeks. And shelves at the grocery store would have been empty. The velocity of money had stopped.

God damn, this is fundamental business fucking economics. They had no choice, and only people who don't understand how business economics works would think that months and years of bankruptcy proceedings would have stopped the end of our economy as we know it. Holy crap.

.

That certainly is how a crony capitalist society built on borrowing, instead of saving runs "capitalism". The sooner it goes belly up, the sooner people can have their true "holy shit!" situation and wake the fuck up for a change. Instead of instant gratification and complacent idiocy.

 

[Mac1958]

What do you think? Even WITH the bailout, there was a credit freeze that essentially froze most short term lending which is how business finances operations.

This is a critical point that many people don't, or won't, understand.

Short term financing is the way most businesses fund their day-to-day operations. Credit markets were frozen at the top and quickly working their way down to Main Street. By the fucking hour.

A small or medium-size business has to take short-term loans to pay bills, buy inventory, make payroll as it waits for accounts receivable to come in. That's how capitalism works, holy crap. And credit markets were freezing up all the way down the line. That's what causes a fucking depression.

As much as I hate it, if the government hadn't acted when and how it did, businesses of all sizes would have been closing their doors within weeks. And shelves at the grocery store would have been empty. The velocity of money had stopped.

God damn, this is fundamental business fucking economics. They had no choice, and only people who don't understand how business economics works would think that months and years of bankruptcy proceedings would have stopped the end of our economy as we know it. Holy crap.

.

That certainly is how a crony capitalist society built on borrowing, instead of saving runs "capitalism". The sooner it goes belly up, the sooner people can have their true "holy shit!" situation and wake the fuck up for a change. Instead of instant gratification and complacent idiocy.

"Goes belly up"? Do you have any idea what that would look like, globally?

Fortunately, no one is going to let that happen if they can help it.

.

 

[TakeAStepBack]

Yes, I know what it would look like. I also know how popular it would be. It's going to happen in one fashion eventually. Its not a sustainable situation.

 

[Oldguy]

Here's a brief look at how new regulations passed in 2010 should prevent another AIG/Lehman Brothers debacle.

How new rules for banks in US and the UK could have prevented the global financial crisis – Quartz

 

[Old Rocks]

Yes.. by all means.. suspend the constitution whenever you 'feel' 'desperate'

Why sure, just let the country slide into the Second Great Republican Depression just to suit your insane ideology and delusions concerning what the Constitution does and does not say.

 

[Dick Tuck]

Tell that to all of the people who still don't have a job, while those corporate morons are rolling in tax dollars.

Too bad that Obama isn't a socialist. At least he helped protect the American taxpayers from getting hosed by the right wing corporatists.

Yeah.. government intervention into private business financials and dealings is not being socialist in nature...

you are a fucking nutjob on top of being an idiot and a liar

You are quite a nitwit. You might as well call George Washington a socialist for the corporate restrictions he placed on corporations to build canals. Nope, what TARP did was the exact opposite of your simple minded claim. It prevented the collapse of capitalism. If that's socialism to you, you're even more of a tard than I thought.

 

[Old Rocks]

Yes, I know what it would look like. I also know how popular it would be. It's going to happen in one fashion eventually. Its not a sustainable situation.

Yes, you 'Conservatives' certianly are hoping for that. Fortunetly, most Americans are far saner than that.

 

[Dick Tuck]

What do you think? Even WITH the bailout, there was a credit freeze that essentially froze most short term lending which is how business finances operations.

This is a critical point that many people don't, or won't, understand.

Short term financing is the way most businesses fund their day-to-day operations. Credit markets were frozen at the top and quickly working their way down to Main Street. By the fucking hour.

A small or medium-size business has to take short-term loans to pay bills, buy inventory, make payroll as it waits for accounts receivable to come in. That's how capitalism works, holy crap. And credit markets were freezing up all the way down the line. That's what causes a fucking depression.

As much as I hate it, if the government hadn't acted when and how it did, businesses of all sizes would have been closing their doors within weeks. And shelves at the grocery store would have been empty. The velocity of money had stopped.

God damn, this is fundamental business fucking economics. They had no choice, and only people who don't understand how business economics works would think that months and years of bankruptcy proceedings would have stopped the end of our economy as we know it. Holy crap.

.

That certainly is how a crony capitalist society built on borrowing, instead of saving runs "capitalism". The sooner it goes belly up, the sooner people can have their true "holy shit!" situation and wake the fuck up for a change. Instead of instant gratification and complacent idiocy.

I bet you actually believe the lunacy that you post.

 

[Old Rocks]

This is a critical point that many people don't, or won't, understand.

Short term financing is the way most businesses fund their day-to-day operations. Credit markets were frozen at the top and quickly working their way down to Main Street. By the fucking hour.

A small or medium-size business has to take short-term loans to pay bills, buy inventory, make payroll as it waits for accounts receivable to come in. That's how capitalism works, holy crap. And credit markets were freezing up all the way down the line. That's what causes a fucking depression.

As much as I hate it, if the government hadn't acted when and how it did, businesses of all sizes would have been closing their doors within weeks. And shelves at the grocery store would have been empty. The velocity of money had stopped.

God damn, this is fundamental business fucking economics. They had no choice, and only people who don't understand how business economics works would think that months and years of bankruptcy proceedings would have stopped the end of our economy as we know it. Holy crap.

.

That certainly is how a crony capitalist society built on borrowing, instead of saving runs "capitalism". The sooner it goes belly up, the sooner people can have their true "holy shit!" situation and wake the fuck up for a change. Instead of instant gratification and complacent idiocy.

"Goes belly up"? Do you have any idea what that would look like, globally?

Fortunately, no one is going to let that happen if they can help it.

.

A global depression would be far uglier than what we experianced in the '30's. Good people losing all they worked for all of their lives. Imagine, the land you own, with a loan worth 10% to 30% of the value of the land, then, in just a few years, the land is worth less than that amount, and it is not paying enough to pay that previously minimal debt. That happened to both of my grandfathers.

These ideologues simply have no understanding of history. And don't care, anyway. Like 2 year olds, it is all about getting their way.

 

[Gadawg73]

Yes, I know what it would look like. I also know how popular it would be. It's going to happen in one fashion eventually. Its not a sustainable situation.

Yes, you 'Conservatives' certianly are hoping for that. Fortunetly, most Americans are far saner than that.

No we aren't.
We do not lump all you liberals in one basket.