Sep 17, 2008 9:55am
AIG Bailout — Morally Right or Morally Hazardous?
EmailLast night The Fed orchestrated an 85 billion dollar bailout-loan to prop up beleaguered world wide insurer AIG. That’s 85 billion of your tax payer dollars. "To big to fail" is the mantra. Yet, for the Fed, Lehman apparently was not too big to fail. There has been a lot of talk of late about the moral hazards of the government bailing out companies that made risky miscalculations. If the government doesn’t allow companies to fail because of their mistakes, then what is there to stop companies from taking risks in the first place? Should the US government be in the bail out business?
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Welcome to the Socialist Republic of Corporate America. Under Premier Bush
Posted by: Tomjoad1776 | September 17, 2008, 10:26 am 10:26 am
These are very dangerous choices at the tax payer’s expense. It will probably be financed by foreigners with us as taxpayers paying both the principal and the interest for God knows how long.
Again Ron Paul was the correct choice for America. He predicted all of this stuff and had the balls to tell us what was going to happen. Peter Schiff, Rabini, Jim Rogers and others were also correct in their predictions. Obama and McCain have no clue.
Posted by: Ben Straub | September 17, 2008, 11:16 am 11:16 am
Our government has 3 branches, the Executive, judicial, and legislative branches. No where is there a corporate or business branch. These loans are the rich and powerful making sure their friends do not lose too much. I am a disabled vet who lost my home 2 months ago and i only had 9 more years of payments till it was free and clear. The government did nothing to help me so why should they help companies that are miss managed if they will not help their citizens. They also cannot manage themselves so what makes them think they can manage corporations.I have read the budget and no where in it is there money set aside for these deals. nor has congress or the senate been called in to approve these in emergency sessions. So who made these deals if anyone can provide the actual name of the person or group of people. If not approved congress and the senate or in the budget then it is theft of public funds which is illegal and they should be prosecuted. Also AIG is a publicly traded company owned by many people, Did they have a share holders meating to approve giving away 80% of the company? The answer is NO. That violates the corporate bylaws. Their are also SEC and FTC regulations being violated By this loan/buy out. I have called the FBI, secret service, SEC, FTC, homeland security, my states congressman and senator. I was told that they make the laws and can do what they want. NO SIR THEY CANNOT, THIS IS AMERICA NOT A COMMUNIST COUNTRY. We have laws and regulations here to prevent this from going on and it is time that the citizens and law enforcement agencies stand up and and uphold the laws. No person in our government is allowed to do what they want without regard to the laws. If they are allowed to violate laws with no worries then so shall all citizens be allowed. I CHALLENGE ANY LAW ENFORCEMENT AGENCY TO DO YOUR JOB,ALSO ANY NEWS AGENCY TO REPORT THE TRUTHS AND REPORT THEM NOT JUST WHAT YOU ARE TOLD TO REPORT. Jeff White Monett, MO
Posted by: Jeff White | September 17, 2008, 11:25 am 11:25 am
Jeff, you said, “No person in our government is allowed to do what they want without regard to the laws.”
Except they do it all the time, Jeff. Congress is the worst. They lie constantly and mislead the public to get votes. The whole damn bunch of them need to be held accountable for their voting records, incomes and behaviors.
Posted by: midwestlady | September 18, 2008, 12:43 am 12:43 am
I hate George Bush.
Posted by: whatever. | October 23, 2008, 8:31 pm 8:31 pm