AIG screws the pooch!

Just got done reading about how AIG screwed the pooch so badly the gubment had to jam in $85b to keep the US economy from imploding!

This is even worse that the other crap bailouts cuz these wiz kid’s claim to fame is financial management. That’s their value add: making money by using money.

Can you imagine? It’s like having to bail your anger management coach out of jail on assault charges!

WTF? Too big to fail?

And check out this gem “the Fed decided to keep its key interest rate steady at 2 percent”

Here is my proposition: if the fed lets me refinance my home mortgage and car loan down to 2 percent, I will make a signed statement that I won’t ask for a multi-billion dollar bailout for the next six months… unless I really, really, really need it.

Who is OK’ing this corporate socialism?

What McCain said:

According to cbsnews,

“These actions stem from failed regulation, reckless management, and a casino 
culture on Wall Street that has crippled one of the most important companies in 
America. The focus of any such action should be to protect the millions of Americans 
who hold insurance policies, retirement plans and other accounts with AIG,” McCain said.

“We must not bailout the management and speculators who created this mess. They 
had months of warnings following the Bear Stearns debacle, and they failed to act.” 

Obama sed

Bloomberg has Obama down for:

"The Fed must ensure that the plan protects the families that count on insurance,'' 
Obama said today in a statement, his first comment on the takeover. ``It must not 
bail out the shareholders or management of AIG.''

"[Obama called the crisis] a stark reminder of the failures of crony capitalism and an 
economic philosophy that sees any regulation at all as unwise and unnecessary.'' 

What does Bush say

This is not exactly a quote but…

Bush agreed with the loan for AIG at the White House on Tuesday

funny… I thought he was against gubment handouts… oh.. right.. only for poor people… mah bad.

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1 Comment »

  1. brianin3d said

    this just in… apparently both the candidates are full of sh!t!

    Who knew?

    Both presidential candidates, Senators Barack Obama and John McCain,
    had expressed their support for the deal.

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