Second Reported Bailout Abuse

[oddball]

AIG gets another 37.8 billion with no questions asked? WTF???????????????????????????????

this is getting WAAAAAAAAAAAAAAAAAY out of hand! CALL YOUR CONGRESSMAN TODAY!!!!!!

http://money.cnn.com/2008/10/08/news/companies/aig/index.htm?cnn=yes

[Averone]

AIG gets another 37.8 billion with no questions asked? WTF???????????????????????????????

this is getting WAAAAAAAAAAAAAAAAAY out of hand! CALL YOUR CONGRESSMAN TODAY!!!!!!

http://money.cnn.com/2008/10/08/news/companies/aig/index.htm?cnn=yes

Oh come on!!!
This has to stop!

[rilynil]

My head hurts. :(

[armitage]

I really enjoyed hearing they spent $440,000 on a bail out party.
:mad:

[pablocruze]

I really enjoyed hearing they spent $440,000 on a bail out party.
:mad:

$440,000.00 sounds like a lot of money to you and me, but as a percentage of $85 billion...heck my calculator won't even figure that one out it's so small...

[Collection King 13]

:banghead:

[Ink]

I really enjoyed hearing they spent $440,000 on a bail out party.
:mad:

:happybirt :happybirt :happybirt






jerkwads!

['Nuff]

Where's the AG...?...:mad:

[Ink]

Where's the AG...?...:mad:

prob at the party too :laugh:

[HalJordanFan]

This is a fuc*ing joke. These people have to be stopped!

[The Watcher]

There were 281,421,906 U.S. citizens according to the 2000 census.

700 billion dollars divided by 281,421,906 people = 2,487.36 dollars per person.

[The Watcher]

AIG gets another 37.8 billion with no questions asked? WTF???????????????????????????????

this is getting WAAAAAAAAAAAAAAAAAY out of hand! CALL YOUR CONGRESSMAN TODAY!!!!!!

http://money.cnn.com/2008/10/08/news/companies/aig/index.htm?cnn=yes

I did when the bailout was being considered and he still voted for it.

It'll be interesting to see how this affects the upcoming elections.

[oddball]

There were 281,421,906 U.S. citizens according to the 2000 census.

700 billion dollars divided by 281,421,906 people = 2,487.36 dollars per person.

if a majority of the taxpayers banded together and refused to pay income tax at the end of the year, i wonder what would happen?

[cblakey1]

And they're partying at the Ritz next week.

http://www.boston.com/business/articles/2008/10/09/aig_plans_to_host_meeting_at_ritz/

[Vince-Vell]

So who want s to take bets on the third bailout abuse?

Just give the damn money to tax payers to pay bills, cause these morons are wasting the damn money left and right.

[galactus]

There were 281,421,906 U.S. citizens according to the 2000 census.

700 billion dollars divided by 281,421,906 people = 2,487.36 dollars per person.

How many of those 281,000,000 are non-taxpayers (children)? The share of the party each working person is paying is higher than $2,487 :thumbsdow

How long until these people start getting assassinated? Seriously, people are going to start getting REALLY fed up (some down and out guy, no savings, lost his house, lost his job, nothing to lose...) and sniping these a-holes when they step into sight. I won't be shedding too many tears when it happens.

[cblakey1]

How many of those 281,000,000 are non-taxpayers (children)? The share of the party each working person is paying is higher than $2,487 :thumbsdow

How long until these people start getting assassinated? Seriously, people are going to start getting REALLY fed up (some down and out guy, no savings, lost his house, lost his job, nothing to lose...) and sniping these a-holes when they step into sight. I won't be shedding too many tears when it happens.

:eek: :confused2

[oddball]

And they're partying at the Ritz next week.

http://www.boston.com/business/articles/2008/10/09/aig_plans_to_host_meeting_at_ritz/

i wonder if their upcoming 'meeting' schedule is being published for the benefit of the loon that's going to bring his ak47 to the party? :laugh: :thumbs2: :buttrock:

[Averone]

$23,000 for spa services

This is from the first party!! OMG what WTF?

This is insane! How can they get away with this?

"Hours later, the Federal Reserve agreed to loan AIG an additional $37.8 billion on top of the initial $85 billion."

Are you kidding me!! What kind of clowns are running this government! I guess party while you can, since the ship is going to go down soon!

Damn, I cant wait to vote them out of office!

What you say all???

[TNovak]

Ok I may have to be taken out into the town square and publicly flogged. I said in the other thread that the first loan was way different than the bailout and it was to stabalize an otherwise sound company and the taxpayers would most likely turn out ok. Now they are back again, hat in hand, what? a month later? WTF? These guys are worse than my deadbeat hippie brotherinlaw asking for money "just to get him by" til his next check and then he's back 2 days later asking for more. :banghead:

[Teague]

Ok I may have to be taken out into the town square and publicly flogged. I said in the other thread that the first loan was way different than the bailout and it was to stabalize an otherwise sound company and the taxpayers would most likely turn out ok. Now they are back again, hat in hand, what? a month later? WTF? These guys are worse than my deadbeat hippie brotherinlaw asking for money "just to get him by" til his next check and then he's back 2 days later asking for more. :banghead:

I know...this is crazy.

[oddball]

the corruption is running deeeeeeeeep!

[Vince-Vell]

I wonder if this is the kind of crap they have been doing all long, and when the funds ran out they asked for more. Now we get to see what they do with the damn mula.

[IronFist]

You know what I'd like? I'd like for the government to pay off half of my outstanding debt as a reward for my being financially responsible and not spending more than I can ever hope to pay back. As I'm only asking for half, I feel this is a generous gesture on my part, and not at all greedy. After all, as a fiscally responsible individual, doesn't it stand to reason that I am in the best position to redistribute the month-to-month funds my bailout would free up and thereby stimulate the economy? It's a win/win situation!

[TNovak]

Gads I'm kicking myself. I bought a bunch of AIG on rumor of the first bailout at about $5.25 (It has traded at over $70 in the last three years) It closed today at $2.39. I bought GM a few months ago at a 50 year low of $8.45 (it was trading at over $92 in 2001) and it closed today at $4.76. These false bottoms are killing me :banghead:

[oddball]

Gads I'm kicking myself. I bought a bunch of AIG on rumor of the first bailout at about $5.25 (It has traded at over $70 in the last three years) It closed today at $2.39. I bought GM a few months ago at a 50 year low of $8.45 (it was trading at over $92 in 2001) and it closed today at $4.76. These false bottoms are killing me :banghead:

the only people that make money are the inside traders. until they get caught of course. hopefully they'll have made enough money by then to buy themselves out of trouble and pay for a beach home and staff in mexico.

[Underdog07]

I am not up to speed on what AIG received and the conditions placed upon said money, but if it is in fact a "loan" as someone mentioned and there were no conditions on how they money could be used, aren't they permitted to do whatever they want with the money?

[cblakey1]

Gads I'm kicking myself. I bought a bunch of AIG on rumor of the first bailout at about $5.25 (It has traded at over $70 in the last three years) It closed today at $2.39. I bought GM a few months ago at a 50 year low of $8.45 (it was trading at over $92 in 2001) and it closed today at $4.76. These false bottoms are killing me :banghead:

:eek: they'll be trading on OTB soon.

[Bullseye]

Unfortunately if the government does not help these guys out now it will only get worse for the rest of us. Once its sorted then they need to go after the CEOs of these companies.

['Nuff]

I'm just glad all of my reserves are in cash...and that I don't have any monthly payments but my house payment and utilities...:thumbs2:

[Ink]

I am not up to speed on what AIG received and the conditions placed upon said money, but if it is in fact a "loan" as someone mentioned and there were no conditions on how they money could be used, aren't they permitted to do whatever they want with the money?

apparently so :mad:

[Underdog07]

if a majority of the taxpayers banded together and refused to pay income tax at the end of the year, i wonder what would happen?

They would go to jail eventually or be severally fined

Gads I'm kicking myself. I bought a bunch of AIG on rumor of the first bailout at about $5.25 (It has traded at over $70 in the last three years) It closed today at $2.39. I bought GM a few months ago at a 50 year low of $8.45 (it was trading at over $92 in 2001) and it closed today at $4.76. These false bottoms are killing me :banghead:

Times like this I am thankful I can not dabble in the market - - of course that does not mean my wife didn't get bonuses paid in Merrill Lynch stock :thumbsdow

[TNovak]

Ok now it looks like the Feds may not buy the "toxic" mortgages at all but instead buy preferred stock in some of these banks. It sounds like they may also eliminate or at least suspend the "mark to market" accounting requirement (thanks to Enron) and put forth a world wide plan with the G8 nations from a meeting this weekend.

I still don't like it much, but it is a 1000 times better deal for the taxpayer than what they had said before with the buying bad mortgages and hanging on to them for years. Govt buying in to banks reminds me of South American Banana republics of the 1970's, but at least it offers a chance for them to get back out when things stabalize (they can just sell the preferred shares of stock). Normally, as you all know, once the government gets in they are harder to get rid of than an out of work hippy bum brother-in-law, they just stay forever.

So on Monday I'm going to give it another try. I'm going to buy a little Chesepeake Energy, Omega Protien, Pfizer, and possibly even yahoo (on the off chance they are cheap enough for Microsoft to buy them up). If it crashes yet again I'm going to just ride it out and buy no more until it actually turns around.