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Are financial institutions like AIG really "too big to fail" or are they too big to challenge?
No one supports these "bailouts" and the bonuses that they give themselves (while they charge others during hard time higher interest rates than ever)--yet nothing is done about this. Have the gotten too big that they're beyond reproach?
If they really wanted to prevent America from disaster, they could have given Americans the money instead to cover bank accounts and investments when the banks and lenders are allowed to fail like they're supposed to--and even pay off their homes and other debts! Unlike the banks, most average working Americans are much more responsible and will pay off debts rather than pay for private jets and bonuses.
The trillions given to the banks under Bush could have given each tax paying American at least $400,000! This isn't including the millions more given to AIG under Obama so that a few people could get bonuses.
If all this money was going to be printed using tax payer's dollars and at the expense of devaluing America's currency, shouldn't the money at least have gone to actually helping America by helping many become finanically independent?
It would have also helped American avoid panic as the banks intentionally contract the money supply by suddenly canceling loans to those who qualified. This is supposedly what always causes panic and depression!
16 Answers
- Richard VLv 61 decade agoFavorite Answer
'Too Big To Exist!'
"Every day it becomes clearer that the bailout was sold on false pretenses. It was never about getting loans flowing. It was always about turning the state into a giant insurance agency for Wall Street-a safety net for the people who need it least subsidized by the people who need it most." Naomi Klein
- Steven JLv 71 decade ago
The are a multinational company that failure would have ruined many economies around the world.
A.I.G. does want it wants. And under the bailout money in the Bush administration there was no strings attached to the money with the promise of almost unlimited more. They lost $63 million in one quarter.
The republicans and the c.e.o.'s screamed to the high heavens when Pres. Obama tried to get their salaries capped.
Source(s): A continous dog and pony show of the republican party of obstructionists. - Anonymous1 decade ago
the Media and the Short-Sellers and the Elite Group of Hedge-Fund Managers are getting paid by AIG each time a Business Fails........
they are paying off the Insurance on loans that were "noncollectable", Phantom Loans, Just like the Junk Bond Fiasco~!!!
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- Anonymous1 decade ago
Let them all fail. They just pocket our tax money anyway because there is no oversight of the money. Why not start infrastructure jobs all over the country? In an effort to beat China, why not have NASA return to the moon to recover helium 3?
Depending on the car, why not give 5 to 10 thousand dollars for a down payment on a new car? We all will know were that money went. To the big three auto makers and their employees, to their subcontractors and their employees, then down to the subs, subs. It would keep trickleing down.
dwood: GM wants a loan not a handout
- ZardozLv 71 decade ago
The options counter party risk could bring down the world trading system. The government can't let them go under, but they are really bankrupt at this time. Unfortunately, they are too big to fail.
The options traders should be given a ride on old sparky.
- Bob SLv 61 decade ago
One word : Receivership
If the company still falters under receivership, break it into smaller, more-manageable companies and auction their assets off to pay off the liabilities.
________
Steven J -
If AIG is so vital to the whole world's economy, how is it that it is OUR dollars they want to take and not those of the third-world countries to whom they are so "vital?"
- Anonymous1 decade ago
Um. Both. That's pretty obvious. Are you really claiming the collapse of a huge corporation is not going to affect a massive number of people?
It's still our own rabid capitalists' faults for even letting the companies get so large in the first place. I'm wondering why we even still have our old '30 anti-trust laws when nobody ever uses them.
- 1 decade ago
AIG isn't the problem here it's presidents like bush and obama who give these company's billions AIG is a greedy Business we know this but it isn't their fault they are handed money it's the governments.
