Does anyone really understand the disaster that Obama saved us from?

I give him credit, however I wanna know what is really goin' on.

I see stuff like this:

["AIG is a huge, complex, global insurance company, attached to a very complicated investment bank hedge fund that built -- that was allowed to build up without any adult supervision, with inadequate capital against the risks they were taking, putting your government in a terribly difficult position," Geithner said.]

and this:

[Bernanke said much of his anger stems from the way AIG strayed from its core insurance business and took unmonitored and unnecessary risks through its Financial Products unit, which wrote billions of dollars in exotic derivative contracts that faltered and nearly destroyed the parent company.]

http://www.washingtonpost.com/wp-dyn/content/artic...

I have been researching to get an idea of just how big the financial fiasco actually is....and this is representative of what I've come up with:

http://www.cnn.com/2008/BUSINESS/09/30/us.bailout....

Notice that dollar losses are posted up through the point where Bear Stearns collapses (totally only some 55 billion).

Then...the story becomes "suffers huge losses", "is bought out", or "fails"...but after that point there is no information on dollar losses.

This seems to be the trend.

There are rumors that the derivatives market has collapsed (meaning trillions in losses), but the financial pages either play down the risk or flat out deny it.

BUT...specific stories mention Leman Brothers, AIG, Bear Sterns, etc all had heavy derivatives exposure.

Plus:

[Notice that Bear Stearns is not EVEN LISTED as holding derivatives in any of the tables we looked at in the OCC Report. Is this because of their 'non-bank' status? We wonder how many other US corporations are quietly loaded up with derivatives risks as well, either as a large counterparty, or the target of a pyramid of wagers on failure risk many hundreds of times their actual net worth. What a monster Wall Street has created for the world.]

http://globaleconomicanalysis.blogspot.com/2008/03...

I keep running into stuff like this.

My point is...Why have both parties introduced some $trillion+ for bank bail-outs if losses are listed in low billion dollar amounts up through March 2008?

I think there is more going on than we are being told.

401ks would not lose 100% of their value if AIG went under. Sure values would drop but eventually properly run companies will fill in the void and the market would recover.

Companies are already leaving the US. That will only increase as tax rates increase. The US already has the highest corporate tax rate in the world, which is exactly why we struggle to keep businesses here.

The GDP is already dropped and is predicted to drop even further due to Obama's policies. Tax increases will also decrease tax revenue due to less spending = less money in the economy = less profit for businesses = less tax revenue and more job losses (and further tax revenue loss).

I am hopeful that the Obama policies will bring solvency to the major banks.

Considering that these banks hold 50% of the nations wealth, (and AIG foolishly insured their most twisted dealings WITH OUR MONEY) - the words of the experts are true...

We cannot afford for these businesses to fail.

So, he's repeating an action that Bush has already done once.

Apparently, someone in his administration told him to copy Bush on this, so it is his one good move to date.

It still doesn't make up for the frivolous and idiotic and doomed "stimulus" bill which was just a repackaging of Democrat earmarks and a small tax rebate, neither of which have ever proven themselves to have any stimulus effect on an economy.

do the math. those of us who do not have 401ks will be paying for tens of dozens of years to save those who do. how in the hell is that fair?

Obama is destroying our country, and the sooner people realize it, then the sooner we can pressure him to do the right thing.

Not only does AIG insure people here in the states, but they are world wide. So we are picking up the tab to protect assets of other people all over the globe. Why do I have to pay for that? Please explain why you and millions of other americans have not figured that out yet?

There will no direct indicator of the failing or success of Obamas policy of "throw money at it", economics. There fore your Question (rant) is irrelevant.

AIG is still falling, tossing them money is only prolonging their demise and giving them free vacations and theres plenty of community banks that are far from going under right now

LOL. Obama saved America by saving AIG? Really? Whew! I'm glad that's over ....

... What's that? You're full of s hit?

No, I do not understand the disaster that Obama saved us from. Because I believe that Obama is the disaster.

Do you understand that AIG, CITI, GOLDMAN SACHS, LEHMAN BROS, FANNIE, FREDDIE, ETC.....are all corrupt and have been cooking their books for years? Do you understand that NO one could have prevented this?

If you really believe what you say then you should be thanking Bush, who started bailing out these companies back in 2008.

Its going to tank anyway