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Significance of AIG Bailout! : Swingers Discussion 1137341031
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TOPIC: Significance of AIG Bailout!
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Playing the market is nothing more than legalized gambeling. It should not be insured by the feds. People know when they buy stocks that they can lose their money. This reminds me of Joe Pesci's character in Casino. He loses money on an investment then wants his money back. I have no stocks so all the bail out means to me is that I am going to have to pay more so someone else gets to have their money. If I am going to have to pay for it then I want the stock and the retirement plan. This is nothing more than socialism. The government stepping in and taking money from people to give to others. It is corperate welfare. Nothing else. No offense but I could care less if someone loses their stocks and their retirement. They gambled and they would have lost if it wasn't for the feds. There are millions of people who work after they get social security.

Spencer TN
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The bailout is unfortunate, however, the alternative is unacceptable. No one wants banks across the area to close, retirement funds to collapse, to see unprecedented unemployment by the collapse of industries, no access to take out car loans, no access to take out mortgages.....and it's these things that are the alternatives if the FEDS don't step in. How many of you have money in money market funds? How would you like it to be worthless? Money market accounts were not insured by the FDIC. However, with this new plan they will be insurance and no one has to worry about losing their money market funds. Banks were seeing yesterday a "run" on money market funds with people taking their money out....that would collapse banks across America.

Mountain Ranch CA
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"I wonder how much of the bailout is going to ceo's golden parachutes... "

In the grand scheme of things, nothing. A $100 million parachute on a trillion dollar bailout is, what, a hundredth of a percent?

What worries me is that there is nothing there. The RTC had homes to sell to recoup some of the money. This is just all bad paper. No physical assets.

Lakeside CA
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My fear is that, as usual, we will not learn from this situation.

Controls need to be put in place so this does not happen again.

Because if we keep doing what we are doing, and it happens again, the government won't have the money to bail out next time...

Lakeside CA
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I feel that all we are bailing out is the multimillionaire CEO’s and share holders like Al Gore. The U.S. Government has no money to bail anyone out. The Treasury is it’s self is basically bankrupt. All the government can do is print useless money. Which is driving the U.S. dollar into a useless currency. I see the $100.00 bill being worth less than the current $1.00 bill in a few short years because of this. A loaf of bread may cost about $750.00 for example. I see no multi news media showing the CEO’s houses up for sell or any of their property or belongings. What is next? The Treasury cannot afford to pay the interest on the national debt? Would it be not unreasonable for the Chinese to put troops into the U.S. to provide security for the Chinese investments when the U.S. has to fold? Ron Paul said this thing was going to happen if the U.S. did not take action last year. The multi news media made Ron Paul look like a right wing lunatic. I think Ron Paul may get my write in vote come November.

Tulare CA
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A lot of companies 401K's would have been lost too by the AIG bankruptcy. Can you imagine losing your life savings like that? I know a couple people that put huge investment monies in to AIG (yes they also have an investment branch...not just insurance) and these two people have lost almost all of it due to depreciating assets. We can't imagine the consequences throughout the entire world had they allowed AIG to go under.

Mountain Ranch CA
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Now Detroit wants a 25 Billion dollar bail out.... Who's next?

Spencer TN
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Here's a fairly decent description of what happened...

http: // freakonomics . blogs . nytimes . com/2008/09/18/diamond-and-kashyap-on-the-recent-financial-upheavals/

Lakeside CA
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Thread moved here from Open Forum

Coral Springs FL
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The government should not be bailing out anyone! I am glad that both candidates agreed that this was stupid!

We need to get the governement out of our lives and business! Not give them more control.

Gainesville FL
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TOPIC: Significance of AIG Bailout!