AIG, loan, Fed

Full story: Newsday

The Federal Reserve has agreed to provide insurance giant American International Group with a loan of up to $37.8 billion, on top of one made to the troubled company last month.

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Jimmy

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#1
Oct 8, 2008
 

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I wonder how many trips to the SPA this money will buy, because that's where they sent all of the execs last time.
Sue

Brooklyn, NY

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#2
Oct 8, 2008
 

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Viva la Revolution! Why are we sitting back and taking this?
Reality

Edison, NJ

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#3
Oct 8, 2008
 

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Sue wrote:
Viva la Revolution! Why are we sitting back and taking this?
Look at Obama and McCain.
Both are Senators who voted YES on the $700+ billion bailout.
Both have accepted large PAC money from the corporations which have benefited directly from the bailout.

American citizens unquestioning allegiance to corporate controlled political party's ends up getting you this type of government.

Just read the Topix boards.
The citizens of the US have become unthinking lemmings.
They post the same vitriolic anger filled rhetoric that their candidates of choice spew.
poconoweeze

Kunkletown, PA

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#4
Oct 8, 2008
 

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they both voted the bailout but mccain is the lesser of the two evils. no one is talking about baracks associations with the terrorist william ayers, who bombed the pentagon and police headquarters in n.y. in the 60's and is still unrepentant. glen beck said on his show before the bailout this wasn't a cure, it's a mess. me thinks throw out everyone and put real people in charge of government. we'd do a better job than these clowns.
Reality

Edison, NJ

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#5
Oct 9, 2008
 
poconoweeze wrote:
they both voted the bailout but mccain is the lesser of the two evils. no one is talking about baracks associations with the terrorist william ayers, who bombed the pentagon and police headquarters in n.y. in the 60's and is still unrepentant. glen beck said on his show before the bailout this wasn't a cure, it's a mess. me thinks throw out everyone and put real people in charge of government. we'd do a better job than these clowns.
The lesser of two evils is still evil.
I agree with you though that we'd do a better job than these clowns.
Jethro

Astoria, NY

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#6
Oct 9, 2008
 

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An subsidiary AIG of thousands of dollars on a posh California retreat, complete with spa treatments, banquets and golf outings just days after getting the federal bailout.
Their they go agian... already wasting our hard earned tax dollars. They'll never stop. It's the sign of the times and prospects are looking bleak.
Gee, what will their other subsidiaries do, throw extravagant bailout parties?
btw

United States

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#7
Oct 9, 2008
 

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We should not bail these banks out. When the whole financial system is based around the transfer of debt - what exactly do they expect to happen? Recession is inevitable, and the longer it is delayed through bail-outs and the increase of taxes, the worse the crash is going to be. We have already allowed this corrupt charade to go on for too long.
The consequences of allowing banks to fail and the market to crash will be dire, but I would rather get it over with sooner rather than later.
former LIer

Bryant Pond, ME

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#8
Oct 9, 2008
 

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Isn't that called aiding and abetting? How can they even justify their actions and then give them MORE money to steal? Something is seriously wrong with this country. Instead of bailing them out we should be throwing them all in jail and NOT posting BAIL. Incredible.
Jim D

Gainesville, VA

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#9
Oct 9, 2008
 

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BAU - Business As Usual boys, another round of drinks, as bonuses are on their way. We just proved that we can take a business, bankrupt it, get money from the feds, and still get a bonus.

I should be at Harvard
ghhsd

Middle Island, NY

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#10
Oct 9, 2008
 

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this country has turned into a total disgrace, starting with its citizens at the top....and trickling down. there's mccain's wonderful props to reagan's theories...
Facts R Important

United States

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#11
Oct 9, 2008
 
How will the US government end up balancing its books and its $12 trillion national debt? Possibly with if this happens and that happens. Washington DC should take lessons from Las Vegas about proper and safe betting tactics.
No Comment

Schaumburg, IL

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#12
Oct 9, 2008
 
AIG needs to go. They have leached enough money out of us all already. Let them fail and we'll deal with the consequences.
ENUFF

Lucedale, MS

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#13
Oct 9, 2008
 

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First trip was a slap in the face to the taxpayers and the goverment. So now they have a second trip and to be even more arrogant they annouce they are taking it. Either goverment needs to stop them or the taxpayers need to provide the appropriate welcoming committee for their arrival. AIG needs to be made an example or pay the price, either way the taxpayer has to be supported and be defended against this type of activity.
pat

AOL

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#14
Oct 9, 2008
 

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Arrest warent should be issued for these people, not more money to steal. What an outrage, andyou wonder why no one trusts these people in congress............
ENUFF

Lucedale, MS

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#15
Oct 9, 2008
 

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Does Misappropriation of Funds ring a bell. Since they took the trip AFTER the money was pooled the funds were not the "Company's" in full. Wasn't the conditions of the loan that is was the Gov't money, sure it wasn't given with no strings. Seeing the funds were given for a certain purpose and used otherwise, isn't this misapprpriation ??
Big Mac

Hempstead, NY

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#16
Oct 9, 2008
 

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These thieves, Paulson, Bernanke and the new 35 yr. old who will handle the mechanics of the bailout should all be arrested and charged with domestic terrorism. We will soon be more than well aware that we have been sold into financial slavery ! Thank you congress for watching out for your oops I mean our interests!
abc

Warwick, NY

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#17
Oct 9, 2008
 

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This was booked weeks before the bailout... only for their "top producers"

What kind of producers could they have been if the company had to be bailed out? How do they think they were still entitiled to go on such an extravagant trip? Did the exectutives not see that this company was on the verge of collapse? If not then they certainly should not be given any more money to throw away. Every penny needs to be returned to the taxpayers and every executive needs to be let go. This is an utter disgrace!
Frank from Setauket

North Brunswick, NJ

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#18
Oct 9, 2008
 

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In my opinion... the rich will always take care of the rich...McCain, Obama, Bush, Clinton, doesn't matter...pick any member of Congress...or local government ... they will always watch each others backs...they will never have to worry about $$$$.
The poor...well they are all but forgotten...look at New Orleans...shameful...simply shameful...and long forgotten.....
and we middle classers, well we will always shoulder the burden. It's our lot in life..
The SPA trip, is simply the tip of the iceberg, and every large company does something similar.
Doing it at this time is certianly in bad taste, and of course should have been re-considered, but it wasn't and it simply fuels our outrage.
I said yesterday we Long Islanders should be used to this, we can't even police our local school districts, whose administrators are so corrupt that they can't even see that it effects our future hopes , our childrens educations.
It's shameful and criminal, but I'm willing to bet a $40 bill, that not one of these CEO's, corrupt elected representatives, lawyers or school officials will ever be prosecuted,be made to pay back any monies, or spend a day behind bars.
And as the next crisis dejour comes along, we middle classers, will suck it up, and continue to provide for our families, because we are helpless and unable to do anything about it.
Why ...because the ones we trust, elect, pay,to watch over these issues, at up their elbows in the muck.
That's my opinion.
change we can live with

Kissimmee, FL

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#19
Oct 9, 2008
 
break the deal spin the wheel

“lowrider”

Since: Mar 07

here

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#20
Oct 9, 2008
 

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Mo money Mo money Mo money how much more do we have to shell out to these
crooks.AIG gets 85 billion and it still in not enough. Liddy and his
dushbags need to be removed.The fed is no better I wonder how many get a kick back from AIG'S board of dushbags
for getting this passed threw. We the people need a break not these big dollar execs.Screw AIG let them figure
it out on their own.

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