$700 B Bailout

Well AIG is one of the main PMI insurers and that is basically what brought them down. I think Matty can speak more intelligently to this since he works for them.

I guess that makes sense, maybe I just don't know enough about this situation. Just seems to me like our tax dollars are going to the greedy to bail them out. Maybe I am wrong on that.

Although, on a side note, it does seem the government is using real estate to make a profit. If they buy all the notes, eventually the people will buy, and will buy at market price, meaning the gov. "SHOULD" make a profit.

I wish I could speak on what exactly brought AIG down. We had an online townhall meeting yesterday with our CEO and I specifically asked if he could explain what credit swaps are and how it caused this crisis and my email went unanswered.

I guess that makes sense, maybe I just don't know enough about this situation. Just seems to me like our tax dollars are going to the greedy to bail them out. Maybe I am wrong on that.

Although, on a side note, it does seem the government is using real estate to make a profit. If they buy all the notes, eventually the people will buy, and will buy at market price, meaning the gov. "SHOULD" make a profit.

If this was a corporation doing that, I would have absolute faith that that would happen. It's almost foolproof. BUT- This is the G.O.V. we're talking about. They'll find a way to fuck it up. Have no fear.

i would like to see a link. because Sen. McCain has been one of the biggest proponents of deregulating. which in turn was part of the cause of this mess

GovTrack: Senate Record: FEDERAL HOUSING ENTERPRISE REGULATORY REFORM... (109-s20060525-16) (http://www.govtrack.us/congress/record.xpd?id=109-s20060525-16&bill=s109-190#sMonofilemx003Ammx002Fmmx002Fmmx002Fmhomemx002 Fmgovtrackmx002Fmdatamx002Fmusmx002Fm109mx002Fmcrm x002Fms20060525-16.xmlElementm0m0m0m)

This thread needs Schneed's contribution

http://picayune.uclick.com/comics/wpcbe/2008/wpcbe080924.gif

This thread needs Schneed's contribution
yeah, we need some arrogance, and my way is right, and no one else knows what they are talking about, makes for hearty discussion:(

yeah, we need some arrogance, and my way is right, and no one else knows what they are talking about, makes for hearty discussion:(

But wait, you and saden have already contributed....

;)

yeah, we need some arrogance, and my way is right, and no one else knows what they are talking about, makes for hearty discussion:(

It's not bragging if you can back it up.

Schneed has a very keen grasp of the financial industry and explains it very well, from the personal to the corporate/national levels. His knowledge adds tremendous value to these parking lot threads, if you're willing to listen.

This thread needs Schneed's contribution

That was actually who I had in mind with this thread. I expected him to chime in.