ab's Profile
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Will definitely miss you Joe...this was the best part of DB.
We reach a bottom once Cramer goes off the air?
"[T]hough unfortunately it may end up costing AIG its soul."
Why would you care about AIG's soul? The one getting extorted here is the taxpayer, who's on the hook for the $150b. Absolutely no benefit to easing the terms of the loan, except possibly for Hank Greenberg and his fellow whiners.
"If we no longer do that, we're at the will of foreign importers in whole, who can set their price points without regard (well, kind of)."
Right. Just like toys and clothes, where those damn Chinese and Vietnamese have us at their mercy. Its tough to find a cheap pair of socks these days.
real question: can IL complete the three-peat of governors in jail on corruption? let the nominations begin.
i start with tony rezko for gov.
"I'm sure I'm not the first to say it, but I'm the one saying it right now: Unfortunately, it's time to wind AIG down."
Wasn't this the plan from the beginning?
Umm...what exactly does this have to do with Blago? Because he's from Chicago? And the city has internships???!!! What a pointless post.
@ep
"You don't become Governor of Illinois without the Chicago machine, silly rabbits."
Heard of George Ryan?
@ep
"You don't become Governor of Illinois without the Chicago machine, silly rabbits."
Heard of George Ryan?
@21
Check your sources. Pretty sure Walter Netsch never ran for anything. And the actual candidate (Glenn Poshard) was supported by Daley (i.e. the "machine").
@anal_yst
"beautiful day"?? you can't be talking about nyc today...
@12
"ubiquitous"?
@4
Would assume a default would cause us to fork over much *MORE* billions.
Not sure why you think defaulting would improve our position...
@10
Bankruptcy would involve wiping out shareholders, correct? If so, there goes the 80% of AIG that taxpayers own...
@16
Pretty sure that (1) when a firm defaults on a contract, it has to do something to make whole the counterparty (e.g. pay up immediately) and (2) most/many contracts and debt agreements have cross-default language, so this could lead to the "whole firm" defaulting, whatever you mean by that.
@21
You're retarded.
@26
Really? Since you don't understand how a defaulting company can make it's creditors whole (liquidation, for example?), you should just go back to the Yahoo Finance message boards.
@WRichards
I love how you pretend to be a hard-core capitalist, but the second somebody suggests a capitalist solution (e.g. bankruptcy for insolvent banks) you ridicule them.
10 minutes of a smiling Rick Santelli is really creepy.
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You're generally right, but why do this bailout through the roundabout way of buying crap assets above their market prices?
Mark 'em at the real price, let the banks fail, then come in to recapitalize. Wipe out the equity, convert the debt and the govt can take a senior piece and guarantee the counterparty risk. I agree that the gov't needs to come in w/ a bailout, but why not do it directly?