$30 Billion more to AIG? After already pumping

[Subdivisions]

$150 Billion into a company that is about to report a ~$60 Billion loss in the last quarter - an all-time record, the largest quarterly loss in world history? That's a $210 Billion loss...

Make that a $240 Billion loss when they come to the trough next quarter.

Edited to add: BTW, CNBC still calling their daily market bottom. They've been wrong every single day since this crisis began calling a bottom. Idiots.

[Frustratedlady]

1. Will this $30B at least be transparent?

Aren't they ALL supposed to report where the funds go?

[KharmaTrain]

2. Or Do You Prefer The Alternative?

Let them crash and what's left of the real estate market goes with them...foreclosures will soar and this downward spiral really does into a nosedive.

The shit sandwich is this horse got out of the barn a long time ago...the Obama administration is trying to catch up to collapse that began in 2007 and has no real end in sight. In many ways these dollar figures mean almost nothing but numbers as the stagnant economy makes almost every business worthless...or property for that matter. The debt bomb is exploding and until its defused this stagnation continues as credit remains frozen.

There are no easy fixes...we're in unchartered waters here where the lack of regulation and greed of the corporates are still being discovered. The ultimate step is nationalization of the entire financial system...and a cleaning out. But without the government stepping in, the little guy doesn't stand a chance.

[Subdivisions]

5. Oh, FFS! Like saving AIG is going to fix everything...NOT!

And that's just mortgages. Just wait until the commercial real estate defaults start.

We ain't seen nothin' yet and pouring money into the AIG black hole isn't going to turn it around.

Edited to add: Oh, and let's not forget http://en.wikipedia.org/wiki/Synthetic_CDO">Synthetic CDOs.

[KharmaTrain]

7. I'm All For Letting The "Too Big To Fail" Fail...

The party's over, my concern is for the little guys that put both their faith and life savings into these gangsters. I want to make sure their real, hard-earned money and homes are protected. Yep, nationalize their asses and if putting this money means keeping people in their homes (or moves in that direction), then it's a necessary evil. However, with all this money, comes control. Strip the good assets from the bad and then sell them off or use them to seed smaller, regional banks mandated strictly to home and small business loans and with caps on the interest rates they can charge. And that's just a start.

This is a runaway train right now...I am no economist and have no clue how to slow this down, but I trust people like Dr. Paul Krugman about what he sees happening, we can't let those too big to fail, but in the end, we can't let these corporations to get so big as to make this mess happen again.

Cheers...

[MercutioATC]

3. Want to put a cherry on that sundae? AIG, in total, is only worth $1.13B

Some investment we made, huh?

[spanone]

4. we are now the beneficiaries of 8 years of deregulation by bu$hco

[City Lights]

6. When will Little Ricky be having his next televised tantrum?

:crickets: