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View Poll Results: allow AIG to fail?
no - bail them out 13 27.08%
yes - FAIL!!!! 35 72.92%
Voters: 48. You may not vote on this poll

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      03-19-2009, 07:38 PM   #1
sayemthree
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should AIG be allowed to fail?

or bailed out by the tax payers?
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      03-20-2009, 04:31 AM   #2
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Screw AIG
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      03-20-2009, 09:41 AM   #3
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the less the government interferes in the market, the better
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      03-20-2009, 09:45 AM   #4
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whats the fallout if it fails? This isn't a rhetorical question, I'm curious as to what people's opinions are, conservative or liberal.
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      03-20-2009, 11:19 AM   #5
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AIG is shrinking itself out of existence as we speak. It is no longer issuing new default credit swaps.

They will spin off the profitable insurance divisions into separate successful companies. These historic divisions won't carry the AIG name, but they will continue the services that so many other entities are depending upon.

The division of the company that was created ~a decade ago that has been acting more like a hedge fund than an insurance company will be all that is left, and it will be killed off.

In the end the US taxpayers will have a large stake in the successful insurance divisions that are spun off, and we will be paid back a fair amount of the money we have put into AIG. As these divisions succeed, the US will sell off our shares to the free market and to company buy-backs, returning the money we have spent back to where it came from.

We can do that, and recover a good amount of our money, and we will save the US economy a ton of pain. We can save the part of AIG that is worth saving, along with all of the jobs that go with these divisions, and kill their hedge fund division that deserves to die.

Or we can let AIG fail, and flush ALL of the billions we have in AIG down the toilet. We can let AIG fail, and leave entire divisions of AIG employees jobless that were completely innocent and had nothing to do with derivatives trading. (adding to our unemployment problems). We can let AIG fail, and set off a wave of bank failures in its wake. Risking a complete banking failure that we just spent billions to avoid.
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      03-20-2009, 11:36 AM   #6
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we dont have the economy strong enough to let them fail

1. we lose the money we gave them
2. unemployment is high enough
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      03-20-2009, 11:40 AM   #7
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If anyone watched obama on leno last night, he made a good point about not letting AIG fail. They're connected to many parts of the financial industry that if they fail, then it'll do more damage.. or something like that. Instead I think getting back those bonuses is the way to go and make sure they don't try to pull some stupid crap like that again. Hopefully other companies will learn from AIG of how not to run a corporation
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      03-20-2009, 11:59 AM   #8
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Quote:
Originally Posted by aut0sh0cker View Post
the less the government interferes in the market, the better
I agree with no bail out but the govt has to put a leash on these companies. They have been proven they cant self regulate.
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      03-20-2009, 02:12 PM   #9
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Quote:
Originally Posted by joonsup View Post
If anyone watched obama on leno last night, he made a good point about not letting AIG fail. They're connected to many parts of the financial industry that if they fail, then it'll do more damage.. or something like that. Instead I think getting back those bonuses is the way to go and make sure they don't try to pull some stupid crap like that again. Hopefully other companies will learn from AIG of how not to run a corporation
all they will learn that is that if they are wreckless and waste millions of dollars on bonuses then the taxpayers will bail them out. whats to lose?
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      03-20-2009, 05:55 PM   #10
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Businesses fail for a reason....

Question, how big do I have to make my company before it's considered too big to fail so I can do whatever I want & the hard working tax payers take the hit in case it doesn't work out? Cuz I'll just over-leverage the biz until I can. That'll be sweet.....

Reality Check!!! If I don't manage the nickles & dimes correctly, I fail. Nothing should change once I pass an imaginary line in size. WAKE UP PEOPLE!!! Our country was founded upon fiscal responsibility.... Nothing should change for the uber elite. It'll hurt us in the long run.
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      03-20-2009, 08:49 PM   #11
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I think this will be the first time i agree with Chrism3, too big to fail is bullshit. Let AIG fail.
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      03-20-2009, 11:12 PM   #12
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I think this will be the first time i agree with Chrism3, too big to fail is bullshit. Let AIG fail.
Just cuz I don't like Obama doesn't mean I don't have valid points

btw NoKids, Welcome to the republican party!

http://www.emmitsburg.net/humor/arch...litical_12.htm
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      03-20-2009, 11:46 PM   #13
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I like Obama - I dont like the ideals he stands for - nevertheless I do not want to see this country go down the toilett so if he truly wants to fix it I wish him luck.

But I dont think artificially propping up a failing company is buiilding a sound future for our economy.
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      03-21-2009, 01:15 AM   #14
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      03-21-2009, 08:13 AM   #15
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Quote:
Originally Posted by ChrisFastM3 View Post
Businesses fail for a reason....

.
A typical nonsence Republican reply.
Then, lets allow GM, Ford, Chrysler, AIG, Banks...and everyone to fail and add about 5M people to unemployed list and see what happens...

By letting AIG and other financial institutions to fail, it would cause the domino effect and many other companies would follow -- it would be a complete disaster.

On the other hand, the Gov't should NOT only monitor the corporations that received bail out funds, but others too. I know of a Fortune 100 company that is still profitable, but laid off a few thousand employees in January (~12% of the workforce), yet the CEO got a multi million (>$10M) bonus. Though, this company did not receive the taxpayer's bail out funds, it put thousands of people on the unemployed list drawing guess what -- unemployment benefits that still is taxpayer's money. The overcompensated CEO is enjoying his millions that could have paid yearly salaries for about 500 employees...

Also, bailing out these corporations that are crucial for our system should have been more logical and higher priority than "bailing out" some Iraq where so far we spent more money than all bailouts combined...
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      03-21-2009, 08:30 AM   #16
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They should be forced to restructure on their own without the help of the govt money.

GMs own financial people say the company is not sustainable under the current model even with Govt money.

People are not going to stop buying cars, etc. GM will collapse and someone else will take its place.
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      03-21-2009, 09:27 AM   #17
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Hey Doc, do you know how much we spent so far in Iraq? Cause if you combine from 2007 till now the money we borrowed over 10 trillion dollars bailout money. Just so you know Obama did fund over 50 billion this year for Iraq. Either way both are not helping the economy.
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      03-21-2009, 01:19 PM   #18
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Quote:
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Hey Doc, do you know how much we spent so far in Iraq? Cause if you combine from 2007 till now the money we borrowed over 10 trillion dollars bailout money. Just so you know Obama did fund over 50 billion this year for Iraq. Either way both are not helping the economy.
WOW, did your little brain really think that Obama was going to pull the troops out of the Iraq mess the minute he took the office. Stupid.

The bailout money is roughly $1.5T since last fall. Iraq cost is about the same so far.

$11T that is US debt is much more (since Reagan days) than the bail out money...

Do your research before trying to sound smart...
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      03-21-2009, 01:30 PM   #19
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Quote:
Originally Posted by MrRoboto View Post
They should be forced to restructure on their own without the help of the govt money.

GMs own financial people say the company is not sustainable under the current model even with Govt money.

People are not going to stop buying cars, etc. GM will collapse and someone else will take its place.
news flash - people have virtually stopped buying cars. check the news.

also on Iraq, this is one of the first comagn promises Barack broke. after being elected he extended the time he promised.

but not back to AIG....
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      03-21-2009, 01:50 PM   #20
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news flash - people have virtually stopped buying cars. check the news.
Even mighty Toyota is asking for a loan from the Japanese government(link) even though it isn't as much( so far) as GM asked for. Toyota has a decent cash burn rate and if things continue as they are now, they might be in GM's situation by the fall.

It's simple, the economy sucks= no one is buying cars now no matter the brand.
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      03-21-2009, 02:20 PM   #21
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WOW, did your little brain really think that Obama was going to pull the troops out of the Iraq mess the minute he took the office. Stupid.

The bailout money is roughly $1.5T since last fall. Iraq cost is about the same so far.

$11T that is US debt is much more (since Reagan days) than the bail out money...

Do your research before trying to sound smart...
Hey doc, I was being serious when I asked about the numbers I was not comparing which is worst. When I mentioned Obama is funding more money I'm just stating the fact more wasted money in a fruitless war. Yes I understand that if we pull troops back all would be wasted and so on. I think people on here a little too touchy these days. I was not trying to be a smartass perhaps you just read it the wrong way
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      03-21-2009, 02:22 PM   #22
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Since 2007 we had more than two bailouts.
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