Stock market in a free fall

[Double Eights]

Re: Stock market in a free fall

As if Wall Street and America as a whole needs to hear this but AIG is on the verge of going under. The US government would be wise to bail it out like they did to Fannie Mae and Freddie Mac because AIG is the world's largest insurer. If they go down it's going to affect the whole frickin' world!

So much for a "free" market then?

Let's put the burden on the tax payers and reward these companies that make such awful decisions.

[The C]

Re: Stock market in a free fall

So how long until the Revolution? I want to put some Yankee dogs against the wall

[Psyblast]

Re: Stock market in a free fall

Also,each day their is fewer jobs out there.Alot of companies took their jobs overseas just to get a tax break,damn Bush.Its almost time to start panicking we this mess that this country is in.

Warning to everyone else: Next post like this will result in this thread being locked.

[ZB9]

Re: Stock market in a free fall

I was at Starbucks this morning and it was funny listening to a couple of folks acting like we are in a great depression while drinking their $6 dollar lattes and typing on their $2500 macbook pros

anyway, the problem with companies like these is that there is absolutely no reason for CEOs NOT to take risks with the "golden parachutes" they get (one of the many not so great influences George Mitchell had while he was in congress, but I digress).

[The C]

Re: Stock market in a free fall

Warning to everyone else: Next post like this will result in this thread being locked.

Can I still post about wanting to start a revolution and kill yankee dogs and capitalist pigs?

I'll put on Rage Against the Machine and Everything.

[p_rushing]

Re: Stock market in a free fall

Well the Fed has stepped in.

http://www.iht.com/articles/2008/09/...s/17insure.php

[ZB9]

Re: Stock market in a free fall

nevermind

[TheMatrix31]

Re: Stock market in a free fall

I was at Starbucks this morning and it was funny listening to a couple of folks acting like we are in a great depression while drinking their $6 dollar lattes and typing on their $2500 macbook pros

.

Probably the only time I'll ever agree with you in my life.

[ehh]

Re: Stock market in a free fall

Originally Posted by ZB9
I was at Starbucks this morning and it was funny listening to a couple of folks acting like we are in a great depression while drinking their $6 dollar lattes and typing on their $2500 macbook pros

Bit of a small sample size, isn't it? A major problem is that the middle class is disappearing in this country.

[stewaat]

Re: Stock market in a free fall

$85 F'n billion...goodness.

It's not even funny how the money is all in the hands of a small population.

[ex carrabba fan]

Re: Stock market in a free fall

Wooow. So the government now has an 80% stake in the company? Good times.

[ifiok25]

Re: Stock market in a free fall

I haven't filled up my car with gas since last Friday. Now I only go to school and back and go to work. That's it.

[Cebby]

Re: Stock market in a free fall

So much for a "free" market then?

Let's put the burden on the tax payers and reward these companies that make such awful decisions.

If it was just "some companies", I might agree, but when you let your financial institutions fail, the country fails. Keeping the banks from failing was one of, if not the main reason we entered WWI.

[callmetaternuts]

Re: Stock market in a free fall

The gov't wont stay involved any longer than necessary. They'll shore up the company, secure its rating for loans, and when AIG is stable on their own, they'll walk away, collecting their money back at a nice rate of return.

The bigger problem here is the insurance business is the biggest industry and biggest money generator in the US. If one of those companies becomes insolvent, it will start a huge domino effect. Someone, whether it be AIG or another carrier will swoop in before too long and assume all of their paper and guarantees. And in truth, only the actual "insurance" is in danger, not the money that is funding it.

[p_rushing]

Re: Stock market in a free fall

The main problem is the life insurance policies, the rest of the coverage would end in 1 year, so people could go else where for coverage. The problem is though that they might end up having to pay a lot more and some wouldn't be able to get coverage if the other insurance companies deemed them too risky. The Feds need to make certain demainds that AIG will change how they do business so this doesn't happen again. Once the Feds get it stable, they'll sell it to some other investment group looking for a nice profit once the stock price comes back.