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Posted by: jovial 9 months, 3 weeks ago
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jovial9 months, 3 weeks ago
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It's seems that letting AIG go down the tubes is not a good answer. I'm open to discussion on that, but the author seems to feel that way as well. He does provide an alternate viewpoint, but what politician would sit by and gamble. If the worst case scenario played out it would paralyze the entire world economy. I sure wouldn't want to be on the receiving end of that blame, would you?
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willottica9 months, 3 weeks ago
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AIG is a problem because it "insured" a lot of bad debt by other banks. I would almost say that it did so fraudulently. Clearly, they have no ability to pay off that insurance when claimed. Instead, they ask the USG for more money, which they then use to pay the claims. Why are we rewarding them by letting them stay in business. Take the insurance off their hands -- any claims outstanding should become payable by the USG directly, and fire and prosecute the lot of them who set the scheme up in the first place.
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The argument that "if AIG fails, then all these other banks do too" doesn't hold water if the USG supports those other banks instead.
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