AIG Owes $10 Billion for Soured Trades, Wall Street Journal Reports

December 10, 2008

  • December 10, 2008 at 10:45 am
    wudchuck says:
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    it’s written all over this company. another 10 billion on sour deals? what was this company doing? sounds like this company needs to file bankruptcy or just go under!

  • December 10, 2008 at 12:27 pm
    Ralph says:
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    don’t worry, folks…the check’s in the mail!!!

  • December 10, 2008 at 12:29 pm
    Baxtor says:
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    Once again, we tried to tell people that our Senators and Representative’s are not God and they can’t fix this mess. Sure is nice that they stayed out of the Gas prices. Look how cheap they are again. Can’t they see this? Paulson? What an idiot. A god in his own mind and most of the American people fell for it.

  • December 10, 2008 at 12:30 pm
    JDP says:
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    I hope the new “Car Czar” and Congress notice that thowing good money after bad money does not work! Who knows what additional “liabilities” lurk within Aig, FORD,GM or Chrysler. Hold on to your tax payer wallet.

  • December 10, 2008 at 12:32 pm
    Vanessa says:
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    I am sick of it all.

  • December 10, 2008 at 12:35 pm
    Michigander says:
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    I don’t get it. Congress absoutely throws 150 Billion at this AIG octopus and balks at the employers of middle America as if the shirts out East are much more important.

  • December 10, 2008 at 12:44 pm
    Ralph says:
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    I feel for you the most, Mich. So many Michiganders like you depend on the Big 3 Automakers. Detroit is a depressing place due to the auto industry.

  • December 10, 2008 at 12:49 pm
    Sanity Czar says:
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    But doesn’t everyone know (this is sarcasm by the way) that if the “government” (i.e., individual men and women who do business by violence) doesn’t bail out AIG, GM, Ford, Chrysler, Fannie, Freddie, CitiGroup, et. al. every possible bad, horrendous, cataclysmic, catastrophic thing that can happen will happen: every person on the planet will lose their jobs, all children will die instantly, global warming will accelerate, no one will have “health care,” in short everyone who is now living, who has ever lived and who is yet to be born will suffer immensely.

    Shame on you people! Don’t you know that the “congress” and Washington D.C. is acting out of only the purest of motives?

  • December 10, 2008 at 12:50 pm
    wudchuck says:
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    quote fm washington post:
    Under the proposal, the government would get warrants for equity equal to at least 20 percent of the loan it provides to each firm, and the companies would be barred from paying dividends to shareholders or bonuses to top executives. They also would be required to get rid of their corporate jets.”

    um….um…. so what about the company LIMO! afterall, if you are going to deprive them of one thing, what makes you think they’ll get rid of the other?

  • December 10, 2008 at 1:03 am
    American Taxpayer says:
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    The report, citing people familiar with the matter, says the trades have not been explicitly disclosed before, and are not covered by terms of a current $150 billion U.S. government rescue package.

    AIG has been doing business like this for over 20 years……Hank loved to “wheel and deal” the balance sheet to make AIG look so so good. Stockholders eat it up..How many Gen Re exectives are in jail…

    And now this….. AIG will not change until it goes under. When are they going to sell like they told us (goverment)?

  • December 10, 2008 at 1:49 am
    Old Pro says:
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    Why worry. Obama has plans to fix all, and you are part of the equation. You see, with all the money needed for various bailouts, you will get to help pay for it. In fact, you will pay for ALL of it.
    And there is more! You’ll also get to pay for the new health care plan. You’ll also get to pay for the new “work programs” to ease unemployment.
    And it won’t cost much — just about 10% to 15% of your income, because your income tax will increase due to higher rates and the reduction of deductions. Looks like they want to take away deductions for medical expenses and home interest now!
    But, you’ll pay for all this — not me. I’m getting ready to retire and let you support me via social security. But please don’t blame me. You voted for him,not me! I just keeping working enought part time as an agent to supplement my income and let you folks worry about it all. Good bye, and good luck.

  • December 10, 2008 at 2:09 am
    Mike says:
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    Old pro, who the hell were we supposed to vote for? All the candidates except Ron Paul supported the bailout!?!?!

    And I couldnt find old Ron on my ballot here in NY.

  • December 10, 2008 at 2:13 am
    Ratemaker says:
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    I’d rather they kept the company limo — You can actually get work done riding in the back of a limo, where it’s much harder to do anything productive while flying commercial.

    With the salaries the execs and managers receive, it’s more cost effective to have them driven around then it is for them to do the driving themselves.

  • December 10, 2008 at 2:13 am
    Ratemaker says:
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    I’d rather they kept the company limo — You can actually get work done riding in the back of a limo, where it’s much harder to do anything productive while flying commercial.

    With the salaries the execs and managers receive, it’s more cost effective to have them driven around then it is for them to do the driving themselves.

  • December 10, 2008 at 2:27 am
    Vanessa says:
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    Thanks so much for the reminder. I am so excited!!!!!!!!!!!!

  • December 10, 2008 at 2:42 am
    Old Pro II says:
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    Old Pro,

    As someone else who is fast approaching retirement age but content to pull up my trousers and trod off to work each day, take your GOP vitriol and stick it in a craggy place.

    Old Pro II

  • December 10, 2008 at 2:57 am
    Joe says:
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    It’s been just over a month since Election Day, and we’re getting ready to change America.

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  • December 10, 2008 at 4:01 am
    Fla. Agent says:
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    And that goes double for me.

    Funny, but it seems that the GOP that controlled congress for the past 12 years helped set up this mess my children & grand children will be paying for – That is if the Chinese don’t call in their loans.

  • December 10, 2008 at 4:02 am
    Cool with Obama says:
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    You got it old pro! Us younger folks WILL have to pay for healthcare, for work programs, and for the bailout for many many miserable years to come. Who do we have to thank? Old “Pros” like yourself for your selfishness and irresponsible spending. Obama might not be able to save us from this nightmare the “Pros” have gotten us into, but he represents the younger generation who is sick of the mess that was created during a time when we had no voice, when we were too young to vote. We are joining together to begin to fix the mess the “Pros” created and Obama is going to be the medium by which our voice is heard. Young voters came out to vote in record numbers. People who had never voted in their lives came to vote too. With change comes sacrifice, and us younger folks know that we are going to have to get used to a new way of life. We might have to cut back on spending and borrowing. We might have to give more to make up for what the old “Pros” kept for themselves. Why are we looking for change? Because the end result will hopefully be a better future for us and our children, as we now see the results of the poor decisions made by the people who were supposed to help secure our future. Now there is nothing left for us…unless we join together NOW and make a change. Glad you “Pros” are so comfortable in your retirement. Too bad you don’t care more about your children.

  • December 11, 2008 at 7:55 am
    Fla. Agent says:
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    Cool with Obama said it pretty well. Couldn’t help but think how the “Old Pros” and their strandard bearer “W” wanted to privatize Social Security…..

    Lou Dobbs is right, there is a war going on against the middle class. Jobs being shipped overseas, our manufacturing base is crumbling. No doubt in my mind that if the status quo (GOP) remained in power, Abrams Tanks would be built in Mexico, F-22s in Korea and bombers built by Airbus.

    By the way, did anybody notice that Haliburton moved its corporate headquarters to Dubai??? No doubt they have a better corporate tax structure there.

    ps: I’m a registered Independent

  • December 17, 2008 at 11:56 am
    Reality Check says:
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    Or contribute nothing and still get fleeced by Obama



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