Of course the P&C spinoff will be renamed; AOB. American Obama Group. Welcome to the new world order. By the way new CitiField, home of the Mets, will also be renamed to ObamaField.
Reaper – you are so correct. And all teams at the ObamaField, in the Barack Baseball League, will be wearing olive drab or white cotton. The only choices available. And the fans will come to the games in their 1962 Packards. (vehicle choices of Black, Brown, or White)
And AIG and Hartford will be the only remaining insurance companies; backed by BILLIONS of federal money, they hit the streets and bought up all of the business at prices that were grossly below reasonable.
Is this a bad nightmare? The last paragraph is already happening. Every account we pursue is met with an aggressive quote by Hartford or AIG; misclassified and cheap.
Well, well whats the least of the 2 evils?
Where is saturday night live now?
AIG knew what was going to happen they just like the rest knew that this was gonna happen the savings and loan crisis was the test once they found the the govt would bail them out they went for the grand scheme home run and ripped everyone off and knew that the govt would bail it all out in the end to protect capitolism but at the end of the day we will be socialist
you guys just don’t understand that you need to SPEND SPEND SPEND money in order to make it! Look at how well the market has performed since we announced this (almost) $1 TRILLION stimulus bill! By allocating millions for important programs such as the preservation of the endangered Wooly Footed House Mouse, we’ll fix everything!
Sorry, I gotta go. My pal Mahmoud is calling again. He wants to know if I’ll watch “300” with him for the 30th time.
Hey One,
Feel free to take all the cheap-shots you want regarding our free-market and capitolism. However, there is one thing you did not mention: When it comes to this mortgage mess it was created by the Government – can’t you say Freddie and Fannie? Something the media just keeps forgetting. I believe the reason the government keeps bailing out AIG is to keep the spotlight off the government culpability.
Stop! AIG should be liquidated ASAP. We cannot keep bailing out this company. The taxpapyers are already suffering, and the government just keeps giving AIG Billions. The government has loan AIG almost 50% of waht the T.A.R.P money congress approved. Enough is enough.
Stop it already! Only the financial services divisions of AIG are involved in this mess. The insurance companies (regulated closely be the state) are and have been very profitable…..including 2008. There is no danger to policyholders. The media frenzy fails to make this important distinction. Go ahead and tar and feather the financial services geniuses, but don’t pain the insurance group with the same brush.
As I read these AIG articles and comments, I am struck by how it all sounds when you replace “corporation” with “welfare mother” and “bailout” with “subsidized housing”. Let’s be honest, we’ve become a complete welfare state.
This is the USA although these days I am having a tough time recognizing it. It is a land I still love, but thanks to the politicans it is causing me to wonder about the theft of OUR LIBERTY. I grew up in a free enterprise system and I would like to leave it that way for my children and grandchildren.
I have a family business,and it hurts to see our country going at a rapid pace towards socialism.
Now we have AIG being principally owned by the government. These bailouts are causing the insurance companies and us agents to now spend our tax dollarfs to have the government in direct competition. We are feeding the government as taxpayers so they can compete against us and steal our clients and income. There is no justice in bailing out a mismanaged company. AIG is a sick wild elephant and needs to be put down and out of its and our misery. There are plenty of other property casualty companies that will absorb the customers. ENOUGH OF THIS NONSENSE!!!!!
AIG’s P&C business took heavy losses in Hurricane Ike and Gustav, just like everyone else. In an earlier post “Dan” said the P&C units were profitable. Prove it, Dan. AIG never breaks out the loss ratios or combined ratios of their individual entities. Show me the money Dan. What was the loss ratio for Lex in 2008?!!
I’d love to see the pricing model AIG uses to determine whether it should price a D&O account, or whatever. Love to see the filing plan submitted to the states.
Hm….cost of capital.
Hm…. expenses.
Oh, wait…a few dozens of billions of dollars, at various opportune moments.
PRICELESS!!!!
And just how are other insurance companies who are not getting a few hundred billion dollars supposed to compete with that?
GENERAL INSURANCE
General Insurance fourth quarter 2008 operating loss was $2.8 billion, compared to a profit of $2.1 billion in the fourth quarter of 2007.
Dan: How does a 2.8 billion loss equal “profit”. Please explain? I just love “new math” where 2 + 2 = IT”S ALL BUSH”S FAULT! LOL
I lost count, but didn’t our gov’t give them $150 billion, then $80 billion and now $30 billion for a total of $260 billion. This article says our gov’t had to bail them out because AIG was guaranteeing Bank Assets of $300 billion. It doesn’t make sense to me. Couldn’t we have just guaranteed the assets and maybe saved money?
Would someone please tell me one government program that is a truly profitable success story. Now we are suppose to trust Washington with OUR HARD EARNED TAX DOLLARS. I emphasize OUR because the government is suppose to be working as stewards for us, not be running businesses. The Politicans are acting as if they are CEO’s. What is a billion dollars here or there for AIG? If it was truly a Billion that would be wrong, but a $175,000,000,000. I think many taxpayers are saying to politicians get out of trying to run business and get back to being what you were elected by us to do. Be good stewards of our money, and let competition in the marketplace work. If AIG,GM,Citibank….. can make it great if they can’t free enterprise will take up the slack. Politicans get back to what you were elected to do and do that right. Serve the people and quit trying to rob us blind. You have your hands full with just that agenda.
Thanks taxpayer! The insurance for my $2 million Palm Beach home just got cut in half for the AIG renewal! What a deal! Fireman’s Fund and Chubb would not come down on their price, but my agent called AIG and suddenly my premium was 1/2 what it used to be. Now you know why they must survive…I have a Senator living next door.
I know you are upset and you have every right to be. I am upset too but we need to keep alevel head and let our government folks do the best job they can. Why just the other day, we in Congress were saying that, “It’s not Bush, it’s not Oboma! It is BO, so this stinks! We need to figure out a way we can get a piece of the free pie while everyone is cussing out AIG’s BO.” So let’s just keep calm and let us on the Hill do our job and protect your right to pay for this mess. After all, this is not a CRIME, it’s just politics doing its job. Now go on and get back to work because we’re going to need more of your income to remove this BO. That’s better, go back to sleep, back to sleeep, back to …..- Okay, tell the Chief I broke up the mob so he can now arrange for that wire transfer by the feds. Party? Another one…sure, why not because I actually had to work today.
Jean,
Now you listen to me – these good folks have a right to point to whomsoever they wish. Besides, if you take out Oboma, then we wouldn’t get the “O” That we need to follow the “B” so that we can prpperly describe this mess for what it is: BO
Tell me if you’re going to quibble about a bunch of rhetoric, how will this become known as BO, you know, something that STINKS, because it does. You can’t use bad words on here, so don’t go there. Stay out of this crying mess, Jean, go back to sleeeeep, baaack tooo sleeeep….
Tom,
I have always said you were the best of the founding fathers and my hat is off to you, sir. But Tom, two cents don’t buy squat today, that’s why the good government folks need to step in and save the unfortunates like AIG, a trusted name in our great country. As a fellow countryman, I am sure you realize that it takes know how and spendability by the governmant to keep the sheep, I mean citizens, in the right frame of mind so our business makes all the “right connections” if you know what I mean (wink)! I guess it was a little different back in your day with having integrity and all. Tom, just go back to sleeeeep.
Well folks, I tried my best, on your behalf, to get Jean to follow along and accept what went around is coming back. Obviously, she doesn’t like it. She is just not a polically correct person. She must be miss informed. So I present to you Ms Jean Informed for your educational supervision.
The Dow has lost 25% of it’s value since Obama was elected.
Anyone who voted for him want to defend your choice now? He’s a flipping moron when it comes to money. Is he trying to kill America?
And how come we never hear anything about his approval rating? Heard it every 7 minutes when Bush was prez. Now you never hear anything about Obama ratings. Whatsup?
The Dow is very sensitive to what they see, and so far the DOW doesn’t like what it sees in Obama’s decision making ability. His rheoric was good his performance so far doesn’t match up with his words, and like it or not the DOW doesn’t like what it perceives as reality. There isn’t anything ignorant about stating the facts.
In the 90’s during the Clinton era the DOW loved the Technology Boom and Clinton enjoyed the ride of technology the saame as most of us did. Until the Technology sector took a dive at the end of his Presidency. Let’s get back to AIG enough is enough. Before we spend anymore of our hard earned tax dollars on a failing company let’s stop and evaluate where AIG is at. The 30 Billion they got yesterday is not the end of the story. AIG will be back for more the question is will Obama continue to be gullible with our money, or will he realize that the free enterprise system has a way of dealing with mismanaged companies, and the customers will be absorbed by better run companies.
Thanks for your comment Arizona. That was my point about Clinton. The president doesn’t control the DOW, there are other factors. So lets not be ignorant and simplify it and act like its all about the president.
And your other point made sense, but still Bush approved the first bailout.
So lets not make this about partisan politics, because the Republicans cant do any better, and Obama hasn’t even had a chance yet, hes just getting started.
But I have to admit – George Bushes policies have driven us to Socialism. This is just am overreaction or a blow back, based on his destructive polices.
Folks….lets get real. You and I and all of our neighbors are the DOW and NASDAQ and every other exchange.
Back in the day…if we wanted to buy/sell stocks we had to use a broker who guided us. When we got worried and wanted to sell that broker would calm us down and remind us of the long term investment goals and the peak/valley nature of a true market.
Today..if we want to buy or sell we just log onto our Etrade (or other) account and trade away with the fear of the latest headline!
We ourselves are the cause of the market going down. Also factor in that we became a credit based society, moved away from cash based. I hope that we are returning to cash based…but it will be a painful trip back. A trip of remembering that we have to be able to pay NOW for the things that we want now.
Sit down and strap in for the rough ride ahead.
Obama is not exactly doing anything to help. He railed on George bush for the federal deficit, then he said the deficit left over from Bush wasn’t his problem, then he set about doubling or tripling the deficit with his socialism bill disguised as a stimulus package. Even if he successfully cuts the deficit in half, as he claims he will do, that only puts him back where he started with a huge deficit he chooses to ignore. Crushing taxes ruin economies everywhere they are tried. Punishing achievement and big business tank the economy. Ask states that have done this.
Obama is a smart guy. Bright and clean, as Biden said. He knows his history. If he really wanted a vibrant, thriving economy with low unemployment and more people able to achieve the American dream, he wouldn’t be doing the things he’s doing. They don’t work. It’s certainly a bad idea to make huge downpayments for future massive Gov’t programs, using money you don’t even have.
Bubba, if only more people agreed with you outside this message board you might have a chance of stopping this, unfortunately, the back lash from all the Republican screwups has put Obama in position to do whatever he wants – Not even Rush Limbo can help you now…..
There is no correlation between Former President Clinton and President Obama except they are both Democrats. After that Clinton was more of a centralist and a little to the left. Obama ran on the premise of this is what he was going to do, but his words so far don’t line up with his actions. To date he has proven to be an extreme leftest.Although his actions do not have an exclusive impact on the DOW his actions do have a direct correlation to whart is happening to the market.His actions and what we are seeing on Wall Street are not mutually exclusive. Getting back to his continually bailing out AIG this and other recent decisions are making investors very nervous about investing, and we as taxpayers should feel uneasy as well.
Your right Gary. It was wrong when President Bush did it and it is wrong to continually put money our tax money down the drain.Hopefully enough taxpayers will rise up and say enough. Let’s all take five minutes and call our congress representatives, amybe even write a letter to President Obama and say STOP THIS NONSENSE!!!
The Dow Jones Industrial Average were back up more than 100 points, creeping up on the 6,900 mark, after a swift drop in General Electric briefly knocked the blue-chip index off its highs for the day. Stocks had started the day at 12-year lows after the selloff of the past two sessions that sent the Dow firmly below 7,000.
Of course the P&C spinoff will be renamed; AOB. American Obama Group. Welcome to the new world order. By the way new CitiField, home of the Mets, will also be renamed to ObamaField.
Let my people go!
“a quarterly loss of about $60 billion.”
How is this even possible?
How does this not amount to gross negligence?
Liddy, CEO of AIG, must have pictures of Barack and Pelosi, naked and in bed. (with Hillary)
Reaper – you are so correct. And all teams at the ObamaField, in the Barack Baseball League, will be wearing olive drab or white cotton. The only choices available. And the fans will come to the games in their 1962 Packards. (vehicle choices of Black, Brown, or White)
And AIG and Hartford will be the only remaining insurance companies; backed by BILLIONS of federal money, they hit the streets and bought up all of the business at prices that were grossly below reasonable.
Is this a bad nightmare? The last paragraph is already happening. Every account we pursue is met with an aggressive quote by Hartford or AIG; misclassified and cheap.
Well, well whats the least of the 2 evils?
Where is saturday night live now?
AIG knew what was going to happen they just like the rest knew that this was gonna happen the savings and loan crisis was the test once they found the the govt would bail them out they went for the grand scheme home run and ripped everyone off and knew that the govt would bail it all out in the end to protect capitolism but at the end of the day we will be socialist
you guys just don’t understand that you need to SPEND SPEND SPEND money in order to make it! Look at how well the market has performed since we announced this (almost) $1 TRILLION stimulus bill! By allocating millions for important programs such as the preservation of the endangered Wooly Footed House Mouse, we’ll fix everything!
Sorry, I gotta go. My pal Mahmoud is calling again. He wants to know if I’ll watch “300” with him for the 30th time.
Hey One,
Feel free to take all the cheap-shots you want regarding our free-market and capitolism. However, there is one thing you did not mention: When it comes to this mortgage mess it was created by the Government – can’t you say Freddie and Fannie? Something the media just keeps forgetting. I believe the reason the government keeps bailing out AIG is to keep the spotlight off the government culpability.
Stop! AIG should be liquidated ASAP. We cannot keep bailing out this company. The taxpapyers are already suffering, and the government just keeps giving AIG Billions. The government has loan AIG almost 50% of waht the T.A.R.P money congress approved. Enough is enough.
Take Care
Stop it already! Only the financial services divisions of AIG are involved in this mess. The insurance companies (regulated closely be the state) are and have been very profitable…..including 2008. There is no danger to policyholders. The media frenzy fails to make this important distinction. Go ahead and tar and feather the financial services geniuses, but don’t pain the insurance group with the same brush.
Was told recently by a broker:
“Capitalism without bankruptcy is like religion without hell.” AIG can go to………bankruptcy!
The herd can smell the fear and the loss of trust that permeates all of AIG.
Run herd, run!
Let’s all review the list of successful government-run insurance entities…..
Run herd, run! Faster herd, faster!
As I read these AIG articles and comments, I am struck by how it all sounds when you replace “corporation” with “welfare mother” and “bailout” with “subsidized housing”. Let’s be honest, we’ve become a complete welfare state.
This is the USA although these days I am having a tough time recognizing it. It is a land I still love, but thanks to the politicans it is causing me to wonder about the theft of OUR LIBERTY. I grew up in a free enterprise system and I would like to leave it that way for my children and grandchildren.
I have a family business,and it hurts to see our country going at a rapid pace towards socialism.
Now we have AIG being principally owned by the government. These bailouts are causing the insurance companies and us agents to now spend our tax dollarfs to have the government in direct competition. We are feeding the government as taxpayers so they can compete against us and steal our clients and income. There is no justice in bailing out a mismanaged company. AIG is a sick wild elephant and needs to be put down and out of its and our misery. There are plenty of other property casualty companies that will absorb the customers. ENOUGH OF THIS NONSENSE!!!!!
You two are idiots.
$150 billion here, $30 billion there – pretty soon we are going to talk real money!
AIG’s P&C business took heavy losses in Hurricane Ike and Gustav, just like everyone else. In an earlier post “Dan” said the P&C units were profitable. Prove it, Dan. AIG never breaks out the loss ratios or combined ratios of their individual entities. Show me the money Dan. What was the loss ratio for Lex in 2008?!!
I’d love to see the pricing model AIG uses to determine whether it should price a D&O account, or whatever. Love to see the filing plan submitted to the states.
Hm….cost of capital.
Hm…. expenses.
Oh, wait…a few dozens of billions of dollars, at various opportune moments.
PRICELESS!!!!
And just how are other insurance companies who are not getting a few hundred billion dollars supposed to compete with that?
Forget bailout? How about some basic fairness?
GENERAL INSURANCE
General Insurance fourth quarter 2008 operating loss was $2.8 billion, compared to a profit of $2.1 billion in the fourth quarter of 2007.
Dan: How does a 2.8 billion loss equal “profit”. Please explain? I just love “new math” where 2 + 2 = IT”S ALL BUSH”S FAULT! LOL
I lost count, but didn’t our gov’t give them $150 billion, then $80 billion and now $30 billion for a total of $260 billion. This article says our gov’t had to bail them out because AIG was guaranteeing Bank Assets of $300 billion. It doesn’t make sense to me. Couldn’t we have just guaranteed the assets and maybe saved money?
Would someone please tell me one government program that is a truly profitable success story. Now we are suppose to trust Washington with OUR HARD EARNED TAX DOLLARS. I emphasize OUR because the government is suppose to be working as stewards for us, not be running businesses. The Politicans are acting as if they are CEO’s. What is a billion dollars here or there for AIG? If it was truly a Billion that would be wrong, but a $175,000,000,000. I think many taxpayers are saying to politicians get out of trying to run business and get back to being what you were elected by us to do. Be good stewards of our money, and let competition in the marketplace work. If AIG,GM,Citibank….. can make it great if they can’t free enterprise will take up the slack. Politicans get back to what you were elected to do and do that right. Serve the people and quit trying to rob us blind. You have your hands full with just that agenda.
This is obscene – how much longer does the Gov’t intend to continue throwing money in the firey furnace! this is disgusting.
Thanks taxpayer! The insurance for my $2 million Palm Beach home just got cut in half for the AIG renewal! What a deal! Fireman’s Fund and Chubb would not come down on their price, but my agent called AIG and suddenly my premium was 1/2 what it used to be. Now you know why they must survive…I have a Senator living next door.
I know you are upset and you have every right to be. I am upset too but we need to keep alevel head and let our government folks do the best job they can. Why just the other day, we in Congress were saying that, “It’s not Bush, it’s not Oboma! It is BO, so this stinks! We need to figure out a way we can get a piece of the free pie while everyone is cussing out AIG’s BO.” So let’s just keep calm and let us on the Hill do our job and protect your right to pay for this mess. After all, this is not a CRIME, it’s just politics doing its job. Now go on and get back to work because we’re going to need more of your income to remove this BO. That’s better, go back to sleep, back to sleeep, back to …..- Okay, tell the Chief I broke up the mob so he can now arrange for that wire transfer by the feds. Party? Another one…sure, why not because I actually had to work today.
“Everything government touches turns to crap” Ringo Starr
Hi, I dont follow politics too closely, but wasnt it Bush that came up with the first bailout?
How come all the posters on here only mention Obama and not Bush?
Obama has been in office less than 100 days, could this mess really be his fault?
“The principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale” –Thomas Jefferson
Jean,
Now you listen to me – these good folks have a right to point to whomsoever they wish. Besides, if you take out Oboma, then we wouldn’t get the “O” That we need to follow the “B” so that we can prpperly describe this mess for what it is: BO
Tell me if you’re going to quibble about a bunch of rhetoric, how will this become known as BO, you know, something that STINKS, because it does. You can’t use bad words on here, so don’t go there. Stay out of this crying mess, Jean, go back to sleeeeep, baaack tooo sleeeep….
ok Jean…in spirit of bipartisanship, we’ll compromise. This mess is Obama’s fault as much as 9/11 was Bush’s fault.
Now, Jean, that seems fair. Can we go back to sleep now? Don’t you want to do the right thing and be politically correct and get along with everybody?
Tom,
I have always said you were the best of the founding fathers and my hat is off to you, sir. But Tom, two cents don’t buy squat today, that’s why the good government folks need to step in and save the unfortunates like AIG, a trusted name in our great country. As a fellow countryman, I am sure you realize that it takes know how and spendability by the governmant to keep the sheep, I mean citizens, in the right frame of mind so our business makes all the “right connections” if you know what I mean (wink)! I guess it was a little different back in your day with having integrity and all. Tom, just go back to sleeeeep.
Yo, whats up G? What do you mean by asleep, and how does that answer my question? BTW, ive read the Patriot Act. That woke me up…
A lot of the smack talk about Obama is misdirected. Thats just a fact, hes only been in office for less than 100 days
Well folks, I tried my best, on your behalf, to get Jean to follow along and accept what went around is coming back. Obviously, she doesn’t like it. She is just not a polically correct person. She must be miss informed. So I present to you Ms Jean Informed for your educational supervision.
The Dow has lost 25% of it’s value since Obama was elected.
Anyone who voted for him want to defend your choice now? He’s a flipping moron when it comes to money. Is he trying to kill America?
And how come we never hear anything about his approval rating? Heard it every 7 minutes when Bush was prez. Now you never hear anything about Obama ratings. Whatsup?
Approval rating is still high actually. Why? Because most people know a president that has been in office for less than 2 months cant control the dow.
The dow can change on peoples perceptions. It can also go right back up just as easily. It is not a fair assessment of the state of the economy.
You are really ignorant.
A Chineese dictator could take over our country and the DOW could sky rocket. THATS JUST A FACT.
The Dow is very sensitive to what they see, and so far the DOW doesn’t like what it sees in Obama’s decision making ability. His rheoric was good his performance so far doesn’t match up with his words, and like it or not the DOW doesn’t like what it perceives as reality. There isn’t anything ignorant about stating the facts.
I agree the DOW doesnt like what it perceives as reality.
Thats what it comes down to.
So does the DOW get to control our whole economic philosophy? Our morals?
The DOW is usually based on a short term perspective, and is not concerned with the overall well being of our society.
The DOW should not choose our president.
The DOW could very well increase if we had an evil dictator.
THATS A FACT.
The DOW loved Bill Clinton as much as any President in history, do you Republican Obama haters want to bring him back?
In the 90’s during the Clinton era the DOW loved the Technology Boom and Clinton enjoyed the ride of technology the saame as most of us did. Until the Technology sector took a dive at the end of his Presidency. Let’s get back to AIG enough is enough. Before we spend anymore of our hard earned tax dollars on a failing company let’s stop and evaluate where AIG is at. The 30 Billion they got yesterday is not the end of the story. AIG will be back for more the question is will Obama continue to be gullible with our money, or will he realize that the free enterprise system has a way of dealing with mismanaged companies, and the customers will be absorbed by better run companies.
Thanks for your comment Arizona. That was my point about Clinton. The president doesn’t control the DOW, there are other factors. So lets not be ignorant and simplify it and act like its all about the president.
And your other point made sense, but still Bush approved the first bailout.
So lets not make this about partisan politics, because the Republicans cant do any better, and Obama hasn’t even had a chance yet, hes just getting started.
But I have to admit – George Bushes policies have driven us to Socialism. This is just am overreaction or a blow back, based on his destructive polices.
Folks….lets get real. You and I and all of our neighbors are the DOW and NASDAQ and every other exchange.
Back in the day…if we wanted to buy/sell stocks we had to use a broker who guided us. When we got worried and wanted to sell that broker would calm us down and remind us of the long term investment goals and the peak/valley nature of a true market.
Today..if we want to buy or sell we just log onto our Etrade (or other) account and trade away with the fear of the latest headline!
We ourselves are the cause of the market going down. Also factor in that we became a credit based society, moved away from cash based. I hope that we are returning to cash based…but it will be a painful trip back. A trip of remembering that we have to be able to pay NOW for the things that we want now.
Sit down and strap in for the rough ride ahead.
Obama is not exactly doing anything to help. He railed on George bush for the federal deficit, then he said the deficit left over from Bush wasn’t his problem, then he set about doubling or tripling the deficit with his socialism bill disguised as a stimulus package. Even if he successfully cuts the deficit in half, as he claims he will do, that only puts him back where he started with a huge deficit he chooses to ignore. Crushing taxes ruin economies everywhere they are tried. Punishing achievement and big business tank the economy. Ask states that have done this.
Obama is a smart guy. Bright and clean, as Biden said. He knows his history. If he really wanted a vibrant, thriving economy with low unemployment and more people able to achieve the American dream, he wouldn’t be doing the things he’s doing. They don’t work. It’s certainly a bad idea to make huge downpayments for future massive Gov’t programs, using money you don’t even have.
Bubba, if only more people agreed with you outside this message board you might have a chance of stopping this, unfortunately, the back lash from all the Republican screwups has put Obama in position to do whatever he wants – Not even Rush Limbo can help you now…..
Bend over here it comes again! Hahaha!!
There is no correlation between Former President Clinton and President Obama except they are both Democrats. After that Clinton was more of a centralist and a little to the left. Obama ran on the premise of this is what he was going to do, but his words so far don’t line up with his actions. To date he has proven to be an extreme leftest.Although his actions do not have an exclusive impact on the DOW his actions do have a direct correlation to whart is happening to the market.His actions and what we are seeing on Wall Street are not mutually exclusive. Getting back to his continually bailing out AIG this and other recent decisions are making investors very nervous about investing, and we as taxpayers should feel uneasy as well.
Arixona what are you talking about, the first bailout was Bushs work, why dont you mention that – Obama has only been in office like a month.
Your right Gary. It was wrong when President Bush did it and it is wrong to continually put money our tax money down the drain.Hopefully enough taxpayers will rise up and say enough. Let’s all take five minutes and call our congress representatives, amybe even write a letter to President Obama and say STOP THIS NONSENSE!!!
I’m starting a “torches & pitchforks” distributorship. Looking for interested investors.
You said thats how it works right??
The Dow Jones Industrial Average were back up more than 100 points, creeping up on the 6,900 mark, after a swift drop in General Electric briefly knocked the blue-chip index off its highs for the day. Stocks had started the day at 12-year lows after the selloff of the past two sessions that sent the Dow firmly below 7,000.