Fed bails out AIG - $85 billion

[bardicverse]

akuma587 said:

bardicverse said:

akuma587 said:
Even I am kind of tired of the government intervening...let them fail.

Yeah that's an awesome idea! Financial collapse was so cool back in the 1930s, we should do it again. What would happen to all those public projects and medicare and welfare? Oh, that's right, they'd cease to exist and probably wipe out the entire current poor class and 40% of the middle class. I guess that's ONE way of getting rid of all the Obama supporters

 

Seriously man, think about the reprecussions of letting these big investors totally collapse. We already just had like 10,000 people lose their jobs. Good thing we're rebuilding and investing in Iraq. We might have to move there soon

 

I'm as liberal as anybody, but bailouts have to stop at some point. I mean AIG might not be the right firm to let fall through, but failures have to happen in a market eventually.

 

True. The sad part is, this al sarted from thievery, and no Im not referring to Bush, not this time anyhow. A lot of these companies specialize in lending/mortgages. The sneaky tactics used with variable rates pretty much forced many people out of their homes, creating a foreclosure epidemic. Houses for sale flooded the market and the banks were stuck sucking up loans and mortgages they were never going to see the money back from again.

The positive side to this is that whoever has enough money to buy a house in cash will be able to get a nice score soon.