How come people are not raising red flags over the federal reserve takeover of AIG?
:thumbdown: this is just like it happened in the UK back when Wellington fought Napoleon, a private institution being taken over by the most corrupt, evil and lying motherscooters on earth, the federal reserve bankers (JP morgan, chase, Jensen, Rockefeller) a private bank that controls the fate of the US economy and political inclines, this can only be bad
nothing good will come out of this, except more power for the fed reserve and IRS, this could mean that they can now access your money more readily, AIG has lots of holdings in real estate (loans) and lots more in Retirement funds that are managed by AIG... in a sense they could now do a loan recall, just like they did in 1929 and actualy get to own the whole US economy as well as the monetary mint like they do now WTF why is no one but Lou Dobbs actualy worried? is the fluoride in the water dumbing people that much? why are people so oblivious here? come on! wake up, they already tax you illegaly(income tax) and enforce laws that do not exist, why let them steam roll us into being their slaves now also? I think I will go to another country after the elections, I mean can't let the Liberals win eh? |
The federal reserve isn't taking over AIG, unless it has happened in the last 3-5hours. Thats when i last checked CNN's website(s).
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For a company which has assets in the trillion marque... What worries me more then anything is that these misc. companies collapsing will lead toward the gov. taking over the financial instatutions in the coming century. |
They're buying 80% stake in AIG. That's the word on the street.
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I think it would be more worrying if financial institutions kept closing. I'm a fan of a free market economy, but the government has to take control in a crisis. Not sure it's reached that stage yet.
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Mattk, you mean the govt. is supposed to nationalise debt?
AIG is a behemoth, that certainly would create huge ripples if it collapsed. So the govt. intervention with its $80b @ 8.5% above 3-month LIBOR is necessary, but expensive. My main concern is that the US fed keeps nationalising debt. 11 banks this year, now AIG, how much more to go? |
All I know is I'm making a killing in this down market. :mrgreen:
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This is why I work in a R&D company.
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AIG crashing would be bad. Proping them up for a year so we all crash even worse when they fail again since thy dont face the consequences of their actions.. much worse. |
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Well said, Sir. Hasn't anyone learnt the lessons from the Japanese? I would have thought that the writing was on the wall... Or what about when Andrew Mellon was Secretary of the U.S. Treasury in the late '20s. When Wall Street cracked in '29, Mellon had the solution: let it happen! Mellon was ready to let the chips fall wherever they might. ...Four years later, the road to recovery was being well travelled. |
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Guys, I work at Morgan Stanley and have to deal with this nonsense every single minute of the work week. AIG is far too big for the government to let it fail. Its not only the US, its everywhere. AIG is huge in Europe and Asia and it would be way more costly than 85B if it failed. Much like Freddie and Fannie wouldve destroyed the economy had the gov not stepped in. Some might argue that in a capital system, some businesses are bound to fail and others to succeed, and this is true. The issue is that these are extraordinary times and the normal rules hardly apply. The past two days have been absolutely insane. Even companies that are economically sound are getting punished to the point of forcing their stock price down by 50%+ For gods sake, Goldman stock went down to 85 dollars today...that has never happened before, ever! Wachovia went up something like 55% in an hour.
If you have stocks, please stop freaking out. Fear is driving the market, not reason. There are definitely bargain opportunities out there, but be careful because there's too much volatility. If you buy something, hold on to your balls because its going to be a bumpy ride. If anyone has questions or concerns let me know I'd be happy to help. |
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