is there any way they could split off the insurance division (which they want to save to protect policy holders) from the financial products division (the black hole)?
Yeah right, he means AIG's failure would have hammered GOldmans. They had the biggest exposure to AIG and would have collapsed had AIG gone bust.
Federal investigation is needed to enquire whether the losses due to that implicit hedge fund is subject to conspiracy or not.
Maybe things could be worse but THERE WILL NEVER BE ANY TRUST IN THE FED AFTER THIS BUDDY SYSTEM WAS EXPOSED! I always thought the LTCM bailout was a joke because at the time there were no other companies going broke. The AIG and Citibank bailouts are almost criminal. Lets give a company that is worth nothing money so they can go charge tax payers 25% interest on CC. What business colleges do they teach this type of BS at? So much for ethics. "Right now, small businesses across the country, who played by the rules, paid their bills on time, can't get a line of credit, while AIG seems to have an open spigot for taxpayer money," said Senator Ron Wyden, a Democrat. What a bunch of crooks.
Totally WRONG. Who decided to consume, consume, consume, buy, buy, buy all on credit? Answer: the people. Did bernanke, bush or greenie put a gun to all these greedy, empty heads with words: "consume or we'll kill you"? No. The people are responsible and the people will have to repay these debts (in one form or the other) to balance the whole system. And of course the wealth has not been destroyed. It is only transfered from less intelligent to more intelligent. As always.
Bull fucking shit - greenspan fueled a fire where nobody could escape. Even if you never touched debt, and saved, your savings are confiscated to bail out this BULLSHIT http://www.usatoday.com/money/economy/fed/2004-02-23-greenspan-debt_x.htm Posted 2/23/2004 11:39 AM Updated 2/24/2004 2:13 AM Greenspan says ARMs might be better deal By Sue Kirchhoff and Barbara Hagenbaugh, USA TODAY WASHINGTON â Federal Reserve Chairman Alan Greenspan said Monday that Americans' preference for long-term, fixed-rate mortgages means many are paying more than necessary for their homes and suggested consumers would benefit if lenders offered more alternatives. "It is only transfered from less intelligent to more intelligent. As always" that's your explaination for my tax dollars bailing out AIG? you're slime
You sound like putting the blame to the flock of sheep rather than to the herdsman. Edit: Not many people living are as smart as you and therefore we need those government officers to regulate.
In fact it's the other way 'round - voters have consistently and vehemently rejected every major political candidate who dared speak reality about fiscal responsibility. Voters clearly have enormous culpability in this mess, as well as in the half-hearted efforts to deal with it reasonably.
in the common vernacular equities are considered wealth and therefore wealth has been destroyed, not just transferred by these events.