The Great Depression Part II

[Alien Allen]

AIG will survive as most of the company business is very profitable. Its this one division that is bleeding them red.

so in the end the bail out which is in the form of a loan should be good?

how about your thoughts on the Gramm/??? bill that allowed for the insurance companies to diversify that was passed in 1999. looks to me like another one of them good ideas on face was doomed to cause this kind of a problem

 

[lumpenstein]

They are charging (they being the US government) 11.5% interest on the loan! :eek If it wasn't the government I'd call them loan sharks.

Holy Kripes! Prime here is only 3.5%! :eek Can AIG rake in enough profit to pay off that rate?

 

[Alien Allen]

Holy Kripes! Prime here is only 3.5%! :eek Can AIG rake in enough profit to pay off that rate?

geeze I sure hope so :willy_nilly:

 

[Minor Axis]

Taxpayers are now on the hook, as in guaranteeing loans to private businesses to the toon of 1 trillion dollars. If the 1999 Gramm Deregulation Act had not been passed, banks would not have been able to get into the trouble they are today. This represents the dismantling of the Great Depression era protections designed specifically to prevent such a thing from every happening again. And McCain voted for it. So much for Republican financial expertise.

 

[dt3]

Taxpayers are now on the hook, as in guaranteeing loans to private businesses to the toon of 1 trillion dollars. If the 1999 Gramm Deregulation Act had not been passed, banks would not have been able to get into the trouble they are today. This represents the dismantling of the Great Depression era protections designed specifically to prevent such a thing from every happening again. And McCain voted for it. So much for Republican financial expertise.

And Clinton signed it. So much for Democratic financial expertise.

 

[Minor Axis]

And Clinton signed it. So much for Democratic financial expertise.

Bastard! :willy_nilly: What is he trying to mess up my arguments?? Good thing Clinton as in B. is not running, huh? Course it was the Dems who approved NAFTA. Double bastards! Just goes to show I'm flexible on whom to support as in lesser of evils...

 

[Peter Parka]

All I know is that Manchester United are giving a sigh of relief because of this.