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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: TigerPaw who wrote (37286)	10/9/2008 2:41:58 PM
From: koan	Read Replies (2) \| Respond to of 149317

AIG: In two weeks they have already run through almost the entire amont 85 billion dollars. Now we are about to give them 37 billion more. And they are supposed to pay it back at 11%. We will never see any of that money. AIG cannot operate on 120 billion at 11%. That is nuts.

To: TigerPaw who wrote (37286)	10/9/2008 3:25:38 PM
From: Little Joe	Read Replies (1) \| Respond to of 149317

I dont know as much about the regulation of the swaps. Hell I didn't know what they were until about six months ago. I understand that they really amounted to insurance but were being carried under a different category and this is why there were no reserves. I don't know, perhaps you do, whether there were existing regulations which were not enforced, or whether new regs were needed. If so I don't know who if anyone proposed the regs,etc. Just an issue I don't know much about, except that someone in the government surely dropped the ball and I suspect there is plenty of blame to go around. Little joe