AIG bailout - 85 billion of taxpayers money

[reckedracing]

WASHINGTON - Another day, but not just another bailout. This one's a stunning government takeover.

In the most far-reaching intervention into the private sector ever for the Federal Reserve, the government stepped in Tuesday to rescue American International Group Inc. with an $85 billion injection of taxpayer money. Under the deal, the government will get a 79.9 percent stake in one of the world's largest insurers and the right to remove senior management.

discuss

 

[Celerity]

Cheney's new job.

 

[nootrac22]

Hell, wish I could get on board.



The end is near! The end of days is upon us!

 

[Sabz5150]

And they say the LHC is what's gonna create a black hole...

 

[George777]

More will come of this. This is just one of the first baby steps towards changing the direction of this country. Something smells fishy about this, and I don't like it. I don't follow politics, nor do I care what happens with government decisions, but something is telling me this is not going to be in the favor of the general populous of America.

 

[cheese9988]

A new 1930's? I'm afraid just to open my Scottrade account.

 

[Drake]

More will come of this. This is just one of the first baby steps towards changing the direction of this country. Something smells fishy about this, and I don't like it. I don't follow politics, nor do I care what happens with government decisions, but something is telling me this is not going to be in the favor of the general populous of America.

Well the way things are going you are going to start to seriously carring about what happens with government decisions.

 

[dacheat]

jeebus what does it take to get your attention? you're leaving the fate of this country up to 'politicians' - this is the biggest failing of the american people, evar.

 

[cheese9988]

Government control is almost never profitable for business. My suspicion is that it could generate more money for the government and bring down everything else.

 

[Briansol]

I'm loving it.

Everything is in the shitter.

I'm buying stock like crazy at 2001 prices

 

[DarkHand]

I'm loving it.

Everything is in the shitter.

I'm buying stock like crazy at 2001 prices

But it's gonna suck if things drop to 1930's prices.

 

[Briansol]

cant. too many reverse splits will have to take place

 

[Airjockie]

damn....I wish I had about 300 of these shares...

ESM: Summary for CITIGROUP FUNDING IN - Yahoo! Finance

 

[Briansol]

Those funds aren't really stocks/funds like you think of them.
Nick answered a similar question i had about those here:
how is berkshire so expensive? - SavingsTalk.com

 

[SlushboxTeggy]

Do you know why Lehman Brothers lasted as long as they did? They were true capitalists. They knew the weak had to die for the strong to survive, even when it was them. These companies need to refuse bail-outs, let the market run it's course, and smash a few companies in the head with a Louisville Slugger.