Bail out of AIG unconsitutional

Discussion in 'Economy' started by Charles_Main, Sep 17, 2008.

  1. Charles_Main
    Offline

    Charles_Main AR15 Owner

    Joined:
    Jun 23, 2008
    Messages:
    16,692
    Thanks Received:
    2,238
    Trophy Points:
    88
    Location:
    Michigan, USA
    Ratings:
    +2,251
    The bail out of AIG gives the Federal Government an 80% controlling Share of the company. This is a clear violation of the constitution, and it is bad economics. Throwing good money after bad is never a good idea.

    Our government is not suppose to be able to spend tax payer dollars to benefit the share holders of a cooperation, and end up owning a Company.

    yes I know it is not the first time, but that does not mean we should ignore it.

    This is the action of a Democrat Congress. Ignore the law and the constitution, and spend more money we do not have, on a company that made poor decisions and was failing.

    Economics 101 people, do not throw good money after bad.
     
  2. Paulie
    Offline

    Paulie Platinum Member

    Joined:
    May 19, 2007
    Messages:
    31,527
    Thanks Received:
    4,849
    Trophy Points:
    1,130
    Ratings:
    +15,360
    I can't believe you're going to try and pin this on only the democrats, as if the republicans aren't just as complicit.
     
  3. Charles_Main
    Offline

    Charles_Main AR15 Owner

    Joined:
    Jun 23, 2008
    Messages:
    16,692
    Thanks Received:
    2,238
    Trophy Points:
    88
    Location:
    Michigan, USA
    Ratings:
    +2,251
    Oh it is not only the Dems fault, but then Dems are the ones in control of congress right now. They damn sure could have stopped it.

    This so called bail out is a clear violation of our constitution. Do you at least agree with that?
     
  4. sealybobo
    Offline

    sealybobo Diamond Member

    Joined:
    Jun 5, 2008
    Messages:
    50,461
    Thanks Received:
    3,187
    Trophy Points:
    1,845
    Location:
    Michigan
    Ratings:
    +10,140
    this belongs in the conspiracy theory forum.

    get used to that comment next year when you sick ken starr on president obama.
     
  5. Charles_Main
    Offline

    Charles_Main AR15 Owner

    Joined:
    Jun 23, 2008
    Messages:
    16,692
    Thanks Received:
    2,238
    Trophy Points:
    88
    Location:
    Michigan, USA
    Ratings:
    +2,251
    You need to read your Constitution numb nuts. I wait I forgot you would have to be able to comprehend what you read for it to make a difference.

    Our government has no place, and no constitutional authority to be buying 80% stakes in failing companies.
     
    Last edited: Sep 17, 2008
  6. Ravi
    Offline

    Ravi Diamond Member

    Joined:
    Feb 27, 2008
    Messages:
    81,329
    Thanks Received:
    12,695
    Trophy Points:
    2,205
    Location:
    Hating Hatters
    Ratings:
    +29,775
    Oh, Charles, you have turned into such a partisan hack. Show me where Bush didn't support this take over, and then explain to me how the economic viability of the country is unconstitutional.
     
  7. CA95380
    Offline

    CA95380 USMB Member

    Joined:
    Jul 23, 2008
    Messages:
    2,779
    Thanks Received:
    186
    Trophy Points:
    48
    Location:
    Central California
    Ratings:
    +186
    As you said ... this is not the first time that it has happened. Probably will not be the last.

    Thing's are a'changin in our country.

    Uncle Sam taps piggy bank, borrows to aid market - Yahoo! News
     
    Last edited: Sep 17, 2008
  8. Chris
    Offline

    Chris Gold Member

    Joined:
    May 30, 2008
    Messages:
    23,154
    Thanks Received:
    1,958
    Trophy Points:
    205
    Location:
    Virginia
    Ratings:
    +2,089
    Since When Did Bush Care About The Constitution?

    Have You Been Asleep For The Last Eight Years???
     
  9. editec
    Offline

    editec Mr. Forgot-it-All

    Joined:
    Jun 5, 2008
    Messages:
    41,427
    Thanks Received:
    5,598
    Trophy Points:
    48
    Location:
    Maine
    Ratings:
    +5,617
    he AIG event was NOT a bailout.

    They're calling it that, but it was not that at all.

    The AIG event was a CONFISCATION of a privately held corporation.

    The USA now owns 80% of the companies stocks.

    They bought that 80% for $85 billion dollars.

    They FORCED the sale, however, so calling it a purchase or a bailout is simply misleading.

    You might be right about throwing good money after bad, though.

    We cannot KNOW if the USA just bought a company at a good price or a bad one UNTIL WE CAN GET A REAL VALUATION OF THE REAL ESTATE BOND ASSETS AIG ARE INSURING.

    Seriously folks.

    This is some complex shit here, and most of you are approaching it like its a simply matter of supply and demand or something easy to figure out.

    If it was easy to figure out, don't you think the best economists in the world would have already solved the problem?

    Our ship of state is sailing completely uncharted waters here, folks.
     
  10. sealybobo
    Offline

    sealybobo Diamond Member

    Joined:
    Jun 5, 2008
    Messages:
    50,461
    Thanks Received:
    3,187
    Trophy Points:
    1,845
    Location:
    Michigan
    Ratings:
    +10,140

    Bush did how many unconstitutional things and you didn't care? Now you care about the constitution?
     

Share This Page