Posted On: December 3, 2008, 11:01 pm CST

Posted By: chill pill

come on guys and gals, your lack of knowledge about the whole AIG issue is very obvious..and ugly. You are as inaccurate as the mainstream media in america. Please...at a minimum, take a few minutes to go to www.aig.com website and read the press releases to at least speak from an educated perspective. Bottomline: AIG will easily pay back the loan + hefty interest, and then buy back all the 79.9% ownership preferred stock shares that we taxpayers currently own (you think they want taxpayers in their business???). Since when is a piad-loan a 'bailout.' AIG has well over $130B in assets they are currently selling (based on getting only $.50 cents to the dollar, which is low considering these are best in class assets), yet have a debt obligation (post Nov. 10th) of only $27B now. Do that math...There is no $150B loan outstanding - or even available to them. that number is media math, adding up figures and not looking at what AIG owes, can borrow, or has paid back to-date. AIG and Fed/Treasury spelled this out clearly on global shareholder conference on Nov. 10th. (also available on aig.com). They have already sold numerous assets in the $10's of billions, and they haven't even started with the big ones yet. they have over 70 willing buyers right now for various assets around the world who can't get financing to buy them due to economic issues. AIG's loan would be paid off already if we didn't have these credit freeze issues. Keep in mind, AIG parent company has assets worth billions and ten's of billions...each....this ain't no best buy or circuit city that has assets in millions. Obviously, not many firms can afford billions in financing in this liquidity mess. And remember, the insurance part of the business is stronger than any competitor in the industry, they have over $32B in policyholder surplus that can't be touched!!!!

Im just asking that you speak from an educated viewpoint rather than sounding like a politician who points the finger at the car company execs about flying in jets, when 76% of all congressmen are millionaires who fly these same jets (at a minimum, first class comm'l), own multiple homes, and eat in the best restaurants..all on your taxpayer money...everyday they are in office. Shouldn't somebody be focusing on their use of taxpayer money?? And when did being a civil servant become so lucrative. That's the real irony and joke of all this, our congress is pointing the finger and posturing, when they passed the legislation that triggered this financial mess and they are the ones riding high on our taxpayer money - with no stings attached or laons to repay. Ponder that, then write your congressman and tell them to drive a hybrid, eat subway sandwiches and fly southwest airlines. Peace out...