The Federal Government trades 85B for 80% of AIG

[royalfan5]

http://www.cnbc.com/id/26747020

http://bloomberg.com/apps/news?pid=20601087&sid=aMmlaCcX7giE&refer=home

I'm guessing this will be a prelude to selling AIG off piecemeal.

[StoopTroup]

I went for 3 minutes.

Is that a record?

[Soonerus]

...geezzz...86 billion....

[Oldnslo]

I guess there is some kind of buy-back agreement after the 80% is tendered for the loan? Otherwise it would seem to be more properly called a "purchase".

I kind of like how were socializing our investment houses. I think it's going to be wonderful.

Does anyone else feel like were not supposed to look behind the curtain or is it just me? Seems like everything in the financial market is composed of smoke, mirrors, and bull****.

[Sooner_Havok]

I don't want to talk about it

[royalfan5]

I guess there is some kind of buy-back agreement after the 80% is tendered for the loan? Otherwise it would seem to be more properly called a "purchase".

I kind of like how were socializing our investment houses. I think it's going to be wonderful.

Does anyone else feel like were not supposed to look behind the curtain or is it just me? Seems like everything in the financial market is composed of smoke, mirrors, and bull****.
I believe the phrase that describes the situation would "The Commanding Heights" on the economy. (Also the name of a great book by Daniel Yergin and Josef Stanislaw, visit your local library or bookseller to learn more) Essential the current government policy seems to mirror that of France in the late 1940's, all that's left to really make my comparison more apt is the if they would nationalize General Motors as well. I suppose you could make a joke about reverse Thatcherism as well.

[Blue]

Seems like everything in the financial market is composed of smoke, mirrors, and bull****.


I said that awhile back and TommieHarris(Who's opinion I respect) said that was wrong.

Tell us we're wrong again Tommy. I say, goodbye, Capitalism.

[Blue]

Russia shutting down its markets is telling as well. Those fuggers are gonna get desperate, imo and are gonna be itching for a land grab.

[royalfan5]

I said that awhile back and TommieHarris(Who's opinion I respect) said that was wrong.

Tell us we're wrong again Tommy. I say, goodbye, Capitalism.

I don't think it is goodbye to capitalism. The nationalized companies will eventually be privatized again as they where in Europe. However, risk will have to be massively re-priced. Exotic derivatives will fall out of favor, and a more traditional hedging model will remerge for awhile, until everyone forgets that they aren't as smart as they think they are and we do it again.

[Blue]

stop talking so smart, get out your tinfoil hat and pitchfork, and get angry damnit! ;)

[Sooner_Havok]

Russia shutting down its markets is telling as well. Those fuggers are gonna get desperate, imo and are gonna be itching for a land grab.

Been asleep for a while?

http://www.cnn.com/2007/WORLD/asiapcf/08/01/arctic.grab.ap/index.html

http://www.cnn.com/2008/WORLD/europe/08/08/georgia.ossetia/

[Blue]

Been asleep for a while?

http://www.cnn.com/2007/WORLD/asiapcf/08/01/arctic.grab.ap/index.html

http://www.cnn.com/2008/WORLD/europe/08/08/georgia.ossetia/

Heh. No doubt. I'm talking Arab oil. Hook in the jaw.

[tommieharris91]

I said that awhile back and TommieHarris(Who's opinion I respect) said that was wrong.

Tell us we're wrong again Tommy. I say, goodbye, Capitalism.

I for one, will welcome our new Communist overlords.

[Blue]

spek

[royalfan5]

I for one, will welcome our new Communist overlords.
Communism would probably help our Olympic Programs. So it's got that going for it.

[Sooner_Havok]

I for one, will welcome our new Communist overlords.

Our overlords will be Canadian, everyone knows that :D

[Sooner_Havok]

Communism would probably help our Olympic Programs. So it's got that going for it.

It would certainly help the pokes out in football too :P

[tommieharris91]

Communism would probably help our Olympic Programs. So it's got that going for it.

Yea, we can have 12-year-old gymnasts to fawn over. That will be cool.

I'm not so sure I like everyone having 6-6 seasons, though.

[Blue]

speakin of gymnasts, anybody got a pic of that hawt American one? We could use her in times like these.

[Sooner_Havok]

Yea, we can have 12-year-old gymnasts to fawn over. That will be cool.

I'm not so sure I like everyone having 6-6 seasons, though.

You'd better comrade! Any team with more wins than another team goes straight to the gulag!

[Sooner_Havok]

Man 12 year old gymnasts aren't right!

Then I would feel bad when I ....

[royalfan5]

Speaking of the Olympics and AIG, how funny where those AIG commercials that ran during the Olympics touting their stability and how you didn't have to worry about anything with AIG.

[Sooner_Havok]

Speaking of the Olympics and AIG, how funny where those AIG commercials that ran during the Olympics touting their stability and how you didn't have to worry about anything with AIG.

Heh, I forgot about those:D

[tommieharris91]

Speaking of the Olympics and AIG, how funny where those AIG commercials that ran during the Olympics touting their stability and how you didn't have to worry about anything with AIG.

Or like, all AIG ads. Or how about the Merrill Lynch ads talking about having the strength to navigate through difficult markets?

[Blue]

Speakin of land grab...looks like Ukraine won't require 1 soldier...http://news.bbc.co.uk/1/hi/world/7618147.stm

[royalfan5]

Speakin of land grab...looks like Ukraine won't require 1 soldier...http://news.bbc.co.uk/1/hi/world/7618147.stm
This happens reasonably frequently in the Ukraine. Russia merging with Belarus would be far more likely as Belarus wants it to happen.