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To: Nadine Carroll who wrote (296633)	3/16/2009 1:54:54 PM
From: LindyBill	1 Recommendation Read Replies (1) \| Respond to of 793964

But this is precisely why AIG could not be allowed to go down. The global banking system would go with it. You are going to see the "mark to market" rule changed to "fiat assets." They will have to disclose, but they won't have to count them at zero. If everybody agrees they have worth, then they have. This saves the banks. After all, since FDR, we have got away with "fiat money."

To: Nadine Carroll who wrote (296633)	3/16/2009 2:23:36 PM
From: Neeka	Read Replies (2) \| Respond to of 793964

I am wondering if we (U.S.) is actually paying back loans to foreign banks? Is this what is really happening? more that half the counterparties (whose names AIG was also just forced to disclose) were European banks.

To: Nadine Carroll who wrote (296633)	3/16/2009 2:43:08 PM
From: MrLucky	5 Recommendations Read Replies (3) \| Respond to of 793964

I think the AIG bonus outrage is designed as a distraction. You are correct. The administration (Emanuel, Axelrod, Carville and Begala) have a single task. Find a bogeyman for the week. Keep the voters eyes and ears off the administration decision making. Protect Obama's actions/inactions and teleprompter speeches. Keep the focus on Limbaugh, Steele, who is head of the GOP, Bush, Rove, Motor City CEOS in corporate jets, AIG bonuses etc. This is nothing more than play making in the primary election. Finally, some media is writing a bit about it.

To: Nadine Carroll who wrote (296633)	3/16/2009 11:43:05 PM
From: KLP	Read Replies (1) \| Respond to of 793964

Agreed. Most of us here already know that. But not all outside 'these glass walls' do....At lunch today, with many of my Lib Seattle friends, several of them were talking about the $168 million dollars in bonus monies, yada yada....and I finally said: "Well, all rightee then....Does this mean the Government today or tomorrow, could break all the Union Contracts and pension promises too?" Dead silence for at least 30 seconds. But no one said anything more about the bonus money.... if they had, I was going to bring up how much Franklin Raines and Jamie Gorlick had had in bonuses over the 6 years they were in Fannie Mae..... But this is precisely why AIG could not be allowed to go down. The global banking system would go with it. When I got home tonight, Mark Levin was talking about it too... Mark Levin said tonight he had done research to see how many Government Employees get a Bonus….Over 2/3 of them get a bonus of some sort! And what about the 6 years of Jamie Gorlick, Franklin Raines, etc from Fannie May….Millions of dollars in bonus for both of them over the 6 year period. Levin said it was over $54 Million, but I have heard Raines had more than $90 million over the 6 years he was in charge…. The YEARS that Barney Frank and Friends were saying "Nope, No problems here…everything is just fine, thank you very much…." All the while, things were going down the drain in a very large swamp.

To: Nadine Carroll who wrote (296633)	3/17/2009 1:29:22 AM
From: carranza2	2 Recommendations Read Replies (2) \| Respond to of 793964

Designed by whom as a distraction? The real outrage is that CDS payoffs are much larger than the value paid for them. Much, much larger. In many instances, they are not insurance at all but naked bets with a nice payoff in taxpayer money via AIG if the holder is lucky. There is no reason for the taxpayer to fund the winners at the CDS casino. Holders who could not show economic loss beyond the loss of the cost of buying the CDS should have been exempted from receipt of any of our tax money. But, yes, somehow the AIG bonus outrage plays beautifully into populist rage. I am outraged that money totalling many, many times the AIG bonus cash has been paid to other companies who were simply bettors at the CDS casino. I am outraged that Joe and Jane Six Pack aren't outraged about the other payoffs. vbg. They go for the easy villains, not the subtle ones. If people are outraged about the relatively insignificant AIG bonus money, they should be apopleptic about the other payments.