so, where in the world are the us taxpayer going to recover any money? all, we see are losses and even the selling of part of the parts is not going to be close to getting the recovered bailout. and yet, we are going to allow another $30 billion payout? i think we need to stop!! let this company sink.
could bring down the biggest insurer in the world……..This was a department over in london of about 25 people. This deartment was STARTED UNDER GREENBERG!!! How on earth could the CEO, BOD let a department so small do what they did??? Yea bring Greenberg back…….RIGHT!!!!
…just how manipulated the market and government are. AIG posts a $5b loss and the stock trades up.
“It would also be AIG’s sixth consecutive quarterly loss, with the last five already adding up to more than $100 billion.”
^^^ Why is failure like that allowed to continue? Too many ppls best interest are tied to that company. Take everyone out of washington and AIG and let monkeys run the show from here on out. I’m confident a primate could produce better results and a better return on OUR INVOLUNTARY TAXDOLLAR INVESTMENT. Monkeys could also run our government better than the idiots currently propping this crap shack up with tax dollars.
Correct me if I am wrong but the money ifused and loaned to AIG was from the Federal Reserve Bank was it not. If so they are not the government, they are not federal and are not using tax dollars. The Federal Reserve is privately owned and operated.
The Fed is the ‘Nation’s Bank’ in charge of monetary policy. It is Federally chartered and has the exclusive domain over US monetary policy. It’s directors and employees are all USG workers.
What you might confuse your thinking is that it is not a part of the 3 branches of gov’t but an independent, federally chartered organization that really is only responsible to it’s charter. The Fed chair is appointed by the Executive Branch.
The Fed does print money. Some will argue that these are not tax dollars. However, AIG’s loans came from TARP funds which were set up by the US Congress and are to be managed by the Treasury. The actual funds may have come through the Fed, but that’s because Treasury has no real money, just a check book, drawn on Fed accounts.
Wudchuck – nowhere in there does it state we are ramping up for another $30B loan/injection. The $30B was extended after 4Q.
Also, why would you want the company to fail at this point if they aren’t taking anymore money. The CDS’ have been wound down and the company’s financial products unit is now trading regulated commodities on exchanges. In addition, the 40 some insurance companies all posted good results in the 1Q. Give this thing some time, it will turn around this year and they will start making money. Once the money is made the loan is repaid.
Remember, Rome wasn’t built in a day, and an $85B loan wasn’t repaid in 8 months.
“AIG’s fourth-quarter net loss of $61.7 billion was the largest quarterly loss in U.S. corporate history and was announced in March along with a revised bailout package, which included a new $30 billion lifeline for the troubled insurer among other terms.”
here’s the problem with your thought:
that $30 billion was included in the loss of $61 billion in the 1st Qtr. so that tells me the loss was actually $90 billion plus. Now, remember that loss is the AIG overall not the insurance side. insurance side is being sold to farmers. even w/the various factions being sold, it’s not going to be enough to resolve it’s issue.
AIG just needs to go away. pay us taxpayers back and then fold away.
I agree with FSQ. The decision was made in September, then made again in March. The money is spent. You can’t rescind this ‘policy’. The investment can’t be un-spent.
We can and will continue to argue the decision of whether to invest.
But to protect our new investment, we should play this hand as an investor, regardless of ‘right’ and ‘wrong’ opinions about the decisions made.
Maybe, just maybe, we’ll get out of this deal without losing too much of our investment. The only way to do that is to wait patiently for the boat to right, the tide to rise, another investor to see higher value, or a combination of the above.
I am no fan of AIG. I saw their operating practices up close and personal as former line management. I got off that risk 15 years ago for the right reasons … moral hazard. They were just getting into finacial risk products at the time but the entire ship was run by pirates.
It’s crazy as an investor to hope your investment fails except purely as a political statement.
What we need to learn from this is the lesson that the down side of our wonderfull capitalist system is that sometimes over-leveraged systems fail. Let them fail or no lesson will ever be remembered.
The more games that are played within the system: political clout, financial shenanigans, bid rigging, fake reinsurance,shifty loss fullfilment, reserving games, segment exploitation, etc., the greater the exposure to failure.
Congrats US Taxpayers! Your investment lost $1.80 in 1st q 2009 on shares with market value of $1.82!
Awesome.
so, where in the world are the us taxpayer going to recover any money? all, we see are losses and even the selling of part of the parts is not going to be close to getting the recovered bailout. and yet, we are going to allow another $30 billion payout? i think we need to stop!! let this company sink.
My question is : If the loss was $1.80 per
share and the price on the market is $ 1.90. who would buy a 10 Cent stock for $ 1.90 ?
Bernie would put all of his clients in it that is what he does. Where is Green berg put him back in the game he will turn it around
could bring down the biggest insurer in the world……..This was a department over in london of about 25 people. This deartment was STARTED UNDER GREENBERG!!! How on earth could the CEO, BOD let a department so small do what they did??? Yea bring Greenberg back…….RIGHT!!!!
…just how manipulated the market and government are. AIG posts a $5b loss and the stock trades up.
“It would also be AIG’s sixth consecutive quarterly loss, with the last five already adding up to more than $100 billion.”
^^^ Why is failure like that allowed to continue? Too many ppls best interest are tied to that company. Take everyone out of washington and AIG and let monkeys run the show from here on out. I’m confident a primate could produce better results and a better return on OUR INVOLUNTARY TAXDOLLAR INVESTMENT. Monkeys could also run our government better than the idiots currently propping this crap shack up with tax dollars.
Correct me if I am wrong but the money ifused and loaned to AIG was from the Federal Reserve Bank was it not. If so they are not the government, they are not federal and are not using tax dollars. The Federal Reserve is privately owned and operated.
You are wrong Danno.
The Fed is the ‘Nation’s Bank’ in charge of monetary policy. It is Federally chartered and has the exclusive domain over US monetary policy. It’s directors and employees are all USG workers.
What you might confuse your thinking is that it is not a part of the 3 branches of gov’t but an independent, federally chartered organization that really is only responsible to it’s charter. The Fed chair is appointed by the Executive Branch.
The Fed does print money. Some will argue that these are not tax dollars. However, AIG’s loans came from TARP funds which were set up by the US Congress and are to be managed by the Treasury. The actual funds may have come through the Fed, but that’s because Treasury has no real money, just a check book, drawn on Fed accounts.
Wudchuck – nowhere in there does it state we are ramping up for another $30B loan/injection. The $30B was extended after 4Q.
Also, why would you want the company to fail at this point if they aren’t taking anymore money. The CDS’ have been wound down and the company’s financial products unit is now trading regulated commodities on exchanges. In addition, the 40 some insurance companies all posted good results in the 1Q. Give this thing some time, it will turn around this year and they will start making money. Once the money is made the loan is repaid.
Remember, Rome wasn’t built in a day, and an $85B loan wasn’t repaid in 8 months.
“AIG’s fourth-quarter net loss of $61.7 billion was the largest quarterly loss in U.S. corporate history and was announced in March along with a revised bailout package, which included a new $30 billion lifeline for the troubled insurer among other terms.”
here’s the problem with your thought:
that $30 billion was included in the loss of $61 billion in the 1st Qtr. so that tells me the loss was actually $90 billion plus. Now, remember that loss is the AIG overall not the insurance side. insurance side is being sold to farmers. even w/the various factions being sold, it’s not going to be enough to resolve it’s issue.
AIG just needs to go away. pay us taxpayers back and then fold away.
I agree with FSQ. The decision was made in September, then made again in March. The money is spent. You can’t rescind this ‘policy’. The investment can’t be un-spent.
We can and will continue to argue the decision of whether to invest.
But to protect our new investment, we should play this hand as an investor, regardless of ‘right’ and ‘wrong’ opinions about the decisions made.
Maybe, just maybe, we’ll get out of this deal without losing too much of our investment. The only way to do that is to wait patiently for the boat to right, the tide to rise, another investor to see higher value, or a combination of the above.
I am no fan of AIG. I saw their operating practices up close and personal as former line management. I got off that risk 15 years ago for the right reasons … moral hazard. They were just getting into finacial risk products at the time but the entire ship was run by pirates.
It’s crazy as an investor to hope your investment fails except purely as a political statement.
What we need to learn from this is the lesson that the down side of our wonderfull capitalist system is that sometimes over-leveraged systems fail. Let them fail or no lesson will ever be remembered.
The more games that are played within the system: political clout, financial shenanigans, bid rigging, fake reinsurance,shifty loss fullfilment, reserving games, segment exploitation, etc., the greater the exposure to failure.
This is textbook stuff. Really.
wudchuck, again you show your ignorance. Can you make one single post that makes any sense?