US government bails AIG out with loan

[Broken Parachute]

$85 billion to be exact.

http://news.bbc.co.uk/2/hi/business/7620127.stm

[DannySniper]

http://www.telegraph.co.uk/telegraph/multimedia/archive/00978/aig_978471c.jpg

Could this be the end of my team?


Seriously, if you look at it closely, the U.S. just bailed out AIG with the size of the Australian economy.

i.e. The Australian Economy = $85b

[Broken Parachute]

http://www.telegraph.co.uk/telegraph/multimedia/archive/00978/aig_978471c.jpg

Could this be the end of my team?


Seriously, if you look at it closely, the U.S. just bailed out AIG with the size of the Australian economy.

i.e. The Australian Economy = $85b They would just play without a sponsor until they found a new one. It happened to West Ham.

[open mind]

i don't like the idea of the government going into for profit buisnesses such as the insurance industry as it strikes me as something destined to create conflicts of interest......and i just know that this economic climate is going to bring about an even greater concentration of economic power in this country among few hands it's already really in right now through mergers and buyouts....so for me it's hard to be sure that avoiding short term economic ruin is important enough to take these steps which will doubtlessly bring on thier own set of (probably long term) negative consequences.

[fuller]

Guys, we'd find a sponsor in about 11 seconds. Double Champions, the biggest club in the world. Utd would be just fine

[saysmydoctor]

Depression Depression!

[OilyTheOtter]

Funny how socialized health care is way to expensive, but buying a failing insurance company is no problem at all.

[wrppdarndyrfngr]

yay free markets rule!




oh wait....

[Justin_stacy]

GM's also looking for a loan. (http://biz.yahoo.com/ap/080916/gm_centennial.html?.v=1). But thinkfully its money crunch hasn't put a drain on Rick Wagnor salary, which was bumped back up to pre 2003 levels in 2007. $39,452.05 per day, or about 14.4 million. (http://www.thetruthaboutcars.com/gm-ceo-rick-wagoner-scores-144m-for-07/)

[We'reAllThieves]

I see the Wall Street stock market crash as a means for big merging and more corporate control in the future.

[FScott]

Funny how socialized health care is way to expensive, but buying a failing insurance company is no problem at all.

shhhhhhhh

[saysmydoctor]

Another 400 points today.

[TK]

Just when the dollar was getting stronger too

[ActionActionFan]

Being that it went down 400 with the government bailing out AIG it probably would have gone down by atleast 700 or more if AIG went out.

[loveisdead]

We're about to face some scary fucking times.

[70x7]

The government had to bail out AIG. It would have been catastrophic had they not. They also should have helped Lehman with a big loan, not a bail out. With a $20b loan, it would have given Lehman time to fix some problems and sell some assets which could have instantly paid back half that loan. Lehman going out is really hurting us. The government does not need to be bailing out companies, but there are some they really cannot let fail for all kinds of reasons. Bear Stearns is the kind of company they could have let fail. Lehman was one of the oldest, most prominent financial institutions. Goldman Sachs is next, I'm afraid, and hopefully the government won't have to bail them out.

[Adeniz19]

WaMu has just put itself up for sale. this is getting ridiculous

[70x7]

It's not going to get any better in the near future. If MS merges with Wachovia, that will leave Goldman as the last large, independent American i-bank, and a lot of people think it's only a matter of time before it gets acquired or merges.

[DannySniper]

They would just play without a sponsor until they found a new one. It happened to West Ham.

But they would lose their lucrative payments!

AND I JUST BOUGHT THE SHIRT WITH AIG ON IT!

[timbedinosaur]

Horrible move. We can't be dwelling in the affairs of corporations in financial need, it provides a false stimulus to the economy, which will eventually lower the worth of a dollar. With the US economy as bad as it is, we need to focus on strengthening our economy first. While a collapse would supposedly have a huge impact on many nations economy, I can't see how we can afford to pay $85 billion to them. I don't see how anything positive can come out of this in the US' favor. It was just a plain bad decision.

[benjammun]

Hello, command economy.

[70x7]

Horrible move. We can't be dwelling in the affairs of corporations in financial need, and we definitely shouldn't be dwelling in the affairs of foreign corporations. With the US economy as bad as it is, we need to focus on strengthening our economy first and foremost, not other countries. While a collapse would supposedly have a huge impact on many nations economy, I can't see how we can afford to pay $85 billion to them. This will most likely lower the worth of a dollar too. I don't see how anything positive can come out of this in the US' favor. It was just a plain bad decision.
AIG is an American company (American International Group). While not ideal, it was something that had to happen to try to somewhat stabilize the market. If AIG had failed on top of Lehman there literally might have been a run on the banks.

[timbedinosaur]

AIG is an American company (American International Group). While not ideal, it was something that had to happen to try to somewhat stabilize the market. If AIG had failed on top of Lehman there literally might have been a run on the banks.
true