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Somewhere, right now, former Gov Spitzer is in a hot tub with a call girl laughing his butt off. I think I can hear it. Then again, it could be the jackals who are smelling fresh meat.
Dumb question…whatever price they can get. I (US citizen) just loaned them a bunch of money and I don’t care what they sell or for how much, just give me back my money ($85 billion please).
This deal compared to Bear Sterns / Freddie/Fannie was a winner. Lets see a company with assets estimated at a Trillion dollars, Ok lets say 700 billion. You loan it 80 billion sell off some of the assets get paid back within 24 months, earn 11.5% intrest and own 80% of the company. Hmmmmm. Great deal. I bought the stock on monday at 1.45 hoping they would make the same deal that they did for Bear Stearns which was just to back a loan (guaranty) for a buyer. The stock would have shot through the roof, but the Government got smart and the stock did not rise much, they made a great deal for the economy and the Tax payer. Not in favor of Gov bailouts but this one was well done.
The whale is on the beach and the carving knives are out and sharp.
Don’t let them tell you this economic meltdown is a complicated mess. It’s not. Our national financial crisis is readily understood by anyone who has seen greed and hypocrisy. But we are now witnessing them on a profound, monumental scale.
Conservative Republicans always want the government to stay out of business and avoid regulation as long as they are making lots of money. When their greed, however, gets them into a fix, they are the first to cry out for rules and laws and taxpayer money to bail out their businesses. Obviously, Republicans are socialists. The Bush administration has decided to socialize the debt of the big Wall Street Firms. Taxpayers didn’t get to enjoy any of the big money profits on the phony financial instruments like derivatives or bundled sub-prime paper, but we get the privilege of paying for their debt and failures.
You are absolutely right. Isn’t AIG based out of China and have they paid taxes here? Inquiring minds would like to know.
Don’t count your chickens before their hatched. I doubt if this is going to be a good deal, because the worst is yet to come in the financial markets.
I wonder how much the AIG P & C company will sell for when 50% of the customer’s leave?
AIG is based out of New York City, and they have paid boatloads of taxes here at both the state and federal levels.
AIG does own a substantial chunk of China’s largest P&C insurer, but that is nowhere near the same as being “based there”