AIG and Rush Limbaugh.... Garbage....
by ryan29March 4th, 2009 at 9:41 PM
Filed under: Politics
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AIG needs to go away. I cannot understand how a company that "is to big to fail" can't right itself. What happens if it does fail? That brings me to my next point namely, where is the bottom of this economic crisis? how much worse is it? At this point it is hard to imagine things becoming much worse. While I am a Obama supporter and I applaud the way he is tackling a lot of old issues with new ideas and strategy, I, like most Americans, am getting tired of seeing AIG get billions of dollars in government aid. People at this company need to be held accountable. According to USA Today,( Wed March 4, 2008, Sue Kirchhoff reporting) FED Chairman told the Senate Budget Committee that the giant insurance firm "exploited regulatory gaps to run an unchecked hedge fund that made irresponsible bets and is now taking huge losses that threaten other firms". Sounds like gross mismanagement to me, who was in charge over there? Rather than continuing to sink money into AIG, perhaps the government could look into buying AIG's bad stock or the entire company and then selling it to another company with a renegotiated rate that helps the people who are hurting the most, not Wall Street, but Main Street. I am no economist and have no idea whether my idea would work or not. I do believe however that blindly giving AIG billions simply because it is "to big to fail" is the same as just burning all that cash... before anyone burn's cash, I'll take some. But least no one forgets, it was under the administration of George W. Bush that allowed for the deregulation of companies on a massive scale and his cronies in office that have brought upon the worst crisis since the great depresion! I'm still with you all the way Barack! Now on to my favorite asshole, Rush Limbaugh. So that I am clear this man "wants the president's economic plan to fail"? what a horrible thing to say! I challenge Mr. Limbaugh to look into the eyes of the strapped middle class people who are either facing foreclosure or are already into it to say he wishes them to fail. what about the people who are jobless? How a fellow American could wish this plan to fail is beyond me. I understand there are two parties out there, that our country is more polarized and divided as at any time in our nation's history, but to wish a failure upon the American people? Sounds like treason to me. Another fact that ol' Rush should remember is that his party lost the election! it wasn't close, it was a landslide victory. Limbaugh needs to remember that this Liberal mandate comes from the fact that a great majority of the American people voted for what Obama represents. That is all for now constant readers, keep on fighting the battle. |
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who are these non-Americans?
I wounder when they are going to attack Freddie and Fannie for the bonus that their people received?
Here's a good one on AIG, especially the reference to foreign recipients:
"Of the $165 million in bonus cash paid out to executives at the bailed out insurer, "it might be possible to recoup approximately $80 million," said Cuomo. The rest of the bonus cash will be hard to recover because it was paid out to non-Americans, and that is out of their jurisdiction." (CNN)
Todd, was Obama even president when the AIG bailout was arranged last fall. I think not.
Shall, Please read this and let me know what you think.
http://www.cnbc.com/id/29763023
-Todd
Shallo1 I have read the article and feel it was written by somebody whose agenda was to promote class warfare. I have no problem with class envy because that can inspire someone to sustain superior performance so that they can excel. It’s that drive that makes claw their way to the top. Most of the seven proposals made at the end of the article seem to be let’s take it from them because I don’t have it. It also fails to address the millions of Americans that pay no taxes because they utilized loopholes that take their taxable incomes to zero. It also failed to address those who get a larger refund then what was withheld from their checks due to earned income credits. Both of scenarios are most definitely not paying their fair share in taxes.
Todd, was Obama even president when the AIG bailout was arranged last fall. I think not.
Retired_navy here is the url that I got the article from http://www.mediamouse.org/news/2009/03/proposals-to-tax-rich.php
I didn't want to make a new article for this. So I'll throw it here. Maybe you guys should read it...
http://news.yahoo.com/s/ap/20090318/ap_on_go_pr_wh/aig_what_did_they_know
-Todd
AIG is basically a funneling point for the money to go to other financial institutions. Some of these institutions are overseas (you tax dollar hard at work supporting the global economy.)
According to politico.com
I would suspect that they work for AIG's foreign subsidiaries.
Just google AIG foreign bail out and choose a link that you feel is a credible source.