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Aig Bailout Was 'poisonous'

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US authorities should have done more to avoid a taxpayer rescue of troubled insurer AIG, a report has said.

The Congressional Oversight Panel said the bail-out was "poisonous" and the market now expected other big financial firms facing collapse to be rescued.

The panel criticised Treasury Secretary Timothy Geithner for his role in the 2008 bail-out...

http://news.bbc.co.uk/1/hi/business/10283157.stm

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No matter what they did politically they where going to get screwed for it.

Economically it should be been allowed to failed in a controlled manner.

Isn't a bailout allowing it to fail in a controlled manner?

When all those fraudulent insurance contracts failed to deliver, many others would have been brought down with AIG. From what I have read, letting AIG fail would have been beyond scary... :ph34r:

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Total fraud. This single event has altered my entire world view and sapped any community spirit I may have had..

Too true! Up until then I was a real capitalist cheerleader - only the strong survive, weak to the wall etc. But it never works out like that does it!!!? I'm now flirting with Marxism or a French statist model.

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Isn't a bailout allowing it to fail in a controlled manner?

When all those fraudulent insurance contracts failed to deliver, many others would have been brought down with AIG. From what I have read, letting AIG fail would have been beyond scary... :ph34r:

Or a very fast, targeted and efficient way to out bad rubbish.

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Isn't a bailout allowing it to fail in a controlled manner?

When all those fraudulent insurance contracts failed to deliver, many others would have been brought down with AIG. From what I have read, letting AIG fail would have been beyond scary... :ph34r:

If the fat lady sings then you can argue that it's failed in a controlled manner, the fat lady hasn't even warmed up yet.

Although AIG does appear to been the keystone for the entire financial system which is why they decided to give it unlimited taxpayer funds and prayed.

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Too true! Up until then I was a real capitalist cheerleader - only the strong survive, weak to the wall etc. But it never works out like that does it!!!? I'm now flirting with Marxism or a French statist model.

Fraud is illegal within our legal framework. Saying you can insuring the uninsurable when you can't is fraudulent. They should never have been allowed to do it, no matter what political model was used; breaking the law is still breaking the law, even with communism.

Edited by Traktion

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If the fat lady sings then you can argue that it's failed in a controlled manner, the fat lady hasn't even warmed up yet.

Although AIG does appear to been the keystone for the entire financial system which is why they decided to give it unlimited taxpayer funds and prayed.

There is time yet... ;)

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  • 259 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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