AIG is still costing taxpayers

Discussion in 'Economy' started by emptystep, Jan 8, 2013.

  1. emptystep
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    emptystep VIP Member

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    This is pretty dated but I just got a email from a email list I am on. Republican will be sure to bring this up during debates spending cuts, or perhaps not.

    AIG’s past losses cost taxpayers now and into the future - The Washington Post
    By Elizabeth Warren, Damon Silvers, Mark McWatters and Kenneth Troske, Published: March 29, 2012

     
  2. emptystep
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    emptystep VIP Member

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    news today

    Lawmakers outraged after AIG announces potential suit against US over bailout


     
  3. TNHarley
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    TNHarley Gold Member

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    I think it could possibly hurt the world economy if we did not bail them out. Their greed was the problem, as with most big companies. I probably wouldnt have bailed them out, at least not that much. Reap what you sow
     
  4. EdwardBaiamonte
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    EdwardBaiamonte Gold Member

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    the governemnt does let 10 million companies a year fail, but AIG had to be saved so our economy would not die too.

    Governemnt also bails out millions of individuals each year. Do you want them to reap what they sow too?? Are they greedy, stupid, lazy or what?? Tell us. Don't be afraid, junior.
     
  5. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    AIG is pretty much obligated to file this lawsuit. The board has a fiduciary responsibility to look out for its shareholders, a major one of which is the former CEO. Maurice Greenberg has been very vocal about the suspicious looting of AIG to benefit other companies, such as Goldman.

    Goldman and others were given 100% of their money for credit default swaps that should have resulted in huge losses. Hank Paulson, a Goldman Alum, oversaw this unseemly process. Greenberg is right to ask the questions - and the board has a duty of care to act.
     
    Last edited: Jan 9, 2013
  6. TNHarley
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    TNHarley Gold Member

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    Reaping meant we bailed them out now they are talking about suing us. Context clues, junior
     
  7. TNHarley
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    TNHarley Gold Member

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    You think they had a legal obligation to their shareholders?
     
  8. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    Uh. Yes. They did and still do.

    They also received far harsher treatment than the other TARP recipients, to the detriment of their shareholders. If I were one, I would want answers, too.
     
    Last edited: Jan 9, 2013
  9. EdwardBaiamonte
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    I don't think its going to be all that complicated. AIG looked the worst of all because they were selling fradulent insurance to most of Wall Street. Goldman may have been dumb but they were mostly innocent buyers.

    When you look at the huge time pressure what the Feds did seemed to stabilize the situation and that was a miracle for which we should all be thankful.

    Lets not forget the Fan/Fred got 200 billion, won't pay back one penny, and the libturds won't say word one about it let alone let it go bankrupt.
     
  10. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    I don't believe At All that Goldman Sachs or the rest of them were innocent.

    Yes, the Feds stabilized the situation...and now we have even Bigger Too Big Too Fail banks.
     

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