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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: i-node who wrote (460911)3/4/2009 9:44:59 AM
From: Road Walker  Read Replies (2) | Respond to of 1574854
 
What has been the benefit of propping up AIG, which is likely to fail before it is over anyway?

Saving virtually ALL the banks. You don't seem to know anything about this situation or the economy in general.

BTW AIG is 80% owned by the federal government so it's unlikely to "fail" at this point. Those CDS belong to you now.



To: i-node who wrote (460911)3/4/2009 9:49:45 AM
From: combjelly2 Recommendations  Read Replies (1) | Respond to of 1574854
 
"What has been the benefit of propping up AIG, which is likely to fail before it is over anyway?"

Well, we avoided an immediate global economic collapse. That has got to be worth something. AIG was at the center of the CDS's. If AIG had gone TU, then every large financial institution in the world would have instantly been insolvent. So, what happened in Iceland would have happened in every country in the world.


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