"Robert Cohen"
msn.com> wrote in message
news:e9821f26-d314-4e79-ba82-59492dc4887c@l43g2000hsh.googlegroups.com...
On Sep 16, 10:01 pm, Robert Cohen msn.com> wrote:> On Sep 16, 8:42 pm, Fred Weiss
papertig.com> wrote:
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>>> On Sep 16, 8:37 am, Robert Cohen
msn.com> wrote:>
>>> True and are anti-pubic interest, because these financial behemoths
>>> are intricately dynamic & essential utilities, as so many people and
>>> dealings are inter-depending on 'em
>
>> Wheras that doesn't apply to our beneficient gov't?
>
>> Obviously Lehman Bros., for example, wasn't considered an "essential
>> utility". On the other hand was Bear Stearns?
>
>> Btw, did you notice how Barclays slipped in there today to pick up the
>> best parts of Lehman. The rest of it will be allowed to collapse - as
>> well it should. But tell me Robt. how that effects you? Did you have
>> stock in Lehman? Do you have a position in mortgage derivatives or
>> credit related swaps or auction rate securities?
>
>>> Our houses of cards are self-destructing if not intervened upon by
>>> Uncle Sam
>
>> Well, that begs the question doesn't it?
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>>> We are re-learning the Herbert Hoover era dilemmas
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>> Well, we should but we aren't in fact. Hoover was far, far from a
>> laissez-fairest. In fact his actions were perfectly designed to worsen
>> the Depression, e.g. raising taxes, imposing high tariffs, tightening
>> the money supply. FDR, your hero, marched in and made matters even
>> worse.
>
>> Fred Weiss
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> The Federal Reserve is gonna loan AIG 85 Billion
>
> Good
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> The company has the assets to handle this loan
>
> AIG going bankrupt would be too disruptive- Hide quoted text -
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> - Show quoted text -
http://www.iht.com/articles/2008/09/17/business/17insure.php
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Bzzzzt , i think that's wrong.
AIG should go into the dustbin if the Board was incapable of managing the
business according to Law - period.
The $85 billion of Fed money, or Govt money should then be given as
"recompense" to individuals and business whom as a result of AIG going
bankrupt, have been harmed in some way.
eg people who lose their life/employment insurance payouts, or whose house
got burnt down and AIG fails to honour that insurance. SIMPLE -- this is
what is called "public interest" Robert.
Don;t confuse "business self-interests" with the public interests .... it is
totally different. Give the money to the people who are REALLY harmed by the
poor behaviour of these over paid so called brilliant busniess folks.
THAT's where the focus should be upon, IMHO, those that have been harmed by
incompetence or malfesence, and not a dime spent supporting these souless
entities who have conned people out of the their hard earned money and
assets on purpose and due to utter incompetence.
