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- - AIG bailout (https://www.homemadeturbo.com/general-discussion-6/aig-bailout-95420/)

Quote:

Originally Posted by Adam Hopkins

Did the government not think about the negative publicity that all of this has caused for AIG? :l

You can loan AIG 10 trillion dollars, but if no one continues to use their products or services then they will ultimately FAIL! This company has taken a huge hit in its reputation. Seriously, think about it for one second, a company that sells products to manage money cannot manage their own? :S

I can assure you that if I need some life insurance or help with my money, a company that was recently almost bankrupt is not going to get my business.

This had absolutely nothing to do with the insurance products AIG offers, which has been very successful for them. They were left holding the bag when a lot of mortgages turned bad basically.

I'll say it again, AIG is a solid insurance company, what isn't so solid is their choice to get down with mortgages and ----.

Bigwig hit the nail on the head, if you actually have good credit and good legit income you can still get a mortgage and find an incredible deal on a house with all the short sales and foreclosures going on. Anybody with a mind for investment will see this as a great opportunity, not necessarily a crisis.

I understand that the insurance part of the company was solid, but obviously the financial part of the company has almost caused the whole company to crumble. This mean that if you had a life insurance policy and died the same day the company went under = you got screwed. Their insurance is only good if they have the money to pay your claim.

I also still believe that the "services" they offer are no longer valid. They made extremely piss poor decisions in handling the money. They new the funds were coming from sub prime mortgages, and how risky that market was. They took a risk in counting on those funds and they did not come through. IMO they went to the casino, gambled, lost big, and got bailed out by our tax dollars. I wish "Big Brother" was there for me when I went to Tunica. ::)

Quote:

Originally Posted by Ravage70

GG you lose

how so??

its not our governments money, its the federal reserve's which is funded by private global banks

Quote:

Originally Posted by Adam Hopkins

I'm not sure I agree with you 100% but I think you have valid points. You pay AIG to insure you. From there they invest your money how they please with the end result you still are insured and whatever money they make, they make. It's kind of like a bank, where you give them money, and they do what they want with it but you still have your money at the end of the day whether they invest it well or not. With a company like Lehman's, they are given money to make more money. Their service is based directly on investing funds. The end result is the same, the companies fucked up. But the reason you gave the company the money is a drastically different. It's why bank accounts are federally insured. It's not your fault the bank invested your money poorly. Just like its not your fault you went to the biggest insurance agency in the US to get insurance and they can't pay their bills despite you always paying yours.

Quote:

Originally Posted by stevenb

Fiat money is worthless, look at Africa.. they have 10bn notes... cause of a fucked up economy and inflation.

Save tangible things.. silver, gold, copper, metals... etc..etc.

Personally I'm opting for saving: Ammunition, Guns, Silver, and water.

---- gold and precious metals.Tools and weapons i totally agree with.Yes our money system can crash whenever it wants it has happened before in other countries.