AIG (and me) whining again

[andy158]

Read in a local paper yesterday that AIG posted a 10.8 billion yes billion dollar loss for the last quarter of 2009. They are scrambling to sell off more of their holdings to recoup some loss, but haven't ruled out more bail out money. They said it was better than the 100 billion loss in the previous year. If this government even thinks about bailing them out again, I will have lost all hope and respect and will know where the priorities truely lie. As if we don't know already. GMAC is about one step behind them as well after three government injections. On a lighter note vp Biden said the job picture is looking better. There are only 35,000 job losses per month now compared to 750,000 job losses a year ago and the stimulus is working. Duh! The pile is dwindling! Of course the number is going to drop! Go figure.

Sorry for venting, but I can't seem to see recovery in my little acre. It irks me to know the tax check I am writing to the IRS will be put to futile use.

[HRx]

The only person(s) you have to blame for all this is GWB and his administration. Their eight years of bad policies have screwed this country up beyond recognition. (numerous corporate scandals/collapse, expensive fake wars, extremely high gas prices, real estate bubble, etc)

It will probably take 20 years before the global economy sees any significant turn around until then any hopes of improvement will be a painfully slow process. I don't care who is running this country, there isn't a perfect way to resolve the plethora of problems our previous leadership has gotten us into. It makes me chuckle when Americans point the finger at Obama blaming him for the state this country is in. God couldn't fix the mess this country is in a single day!!.

[StartingOver08]

This is a partial post from the WSJ article giving some comparisons. Note that this back-door bailout of the banks still gets very little media attention.




The Wall Street Journal also reported Wednesday that Bank of America, recipient of tens of billions of federal aid, paid out $4.4 billion in compensation to its bankers in 2009, nearly two thirds of the total net profit it generated in investment banking and capital markets. The sum comes close to the record compensation the bank awarded its top personnel in 2006, and translates to average salaries of $400,000 per banker. An undisclosed number of Bank of America employees were paid more than $1 million.


.




Last month, JPMorgan Chase announced it paid $9.33 billion to the roughly 25,000 employees in its banking division, or about $380,000 per head, and Goldman Sachs spread $16.2 billion among 32,500 employees, almost $500,000 per banker. An unknown number of bankers made seven- or even eight-figure salaries.




.

By Tom Eley
4 February 2010

http://www.wsws.org/articles/2010/feb2010/aig-f04.shtml

[banca rotta]

The only person(s) you have to blame for all this is GWB and his administration. Their eight years of bad policies have screwed this country up beyond recognition. (numerous corporate scandals/collapse, expensive fake wars, extremely high gas prices, real estate bubble, etc)

It will probably take 20 years before the global economy sees any significant turn around until then any hopes of improvement will be a painfully slow process. I don't care who is running this country, there isn't a perfect way to resolve the plethora of problems our previous leadership has gotten us into. It makes me chuckle when Americans point the finger at Obama blaming him for the state this country is in. God couldn't fix the mess this country is in a single day!!.

I give you partial credit. Of course it was GWB. It was also Clinton and his criminal gang that deregulated this derivative scheme.

GWB got stuck when the music stopped just as Obama is going to get stuck when the current music stops.


It's also the main reason why the bailouts in all forms are a bad idea. The problems are too great for any bailout.

We can throw everything we have at the current problems whether it's AIG, GM or Detroit, Healthcare, Forclosures Wall Street banks and it just isn't enough to fix it. We are beyond fixing this thing anymore.

Anyone want a good job? Become a BK Trustee. They will be a house hold name.

[OhioFiler]

The only person(s) you have to blame for all this is GWB and his administration. Their eight years of bad policies have screwed this country up beyond recognition. (numerous corporate scandals/collapse, expensive fake wars, extremely high gas prices, real estate bubble, etc)

It will probably take 20 years before the global economy sees any significant turn around until then any hopes of improvement will be a painfully slow process. I don't care who is running this country, there isn't a perfect way to resolve the plethora of problems our previous leadership has gotten us into. It makes me chuckle when Americans point the finger at Obama blaming him for the state this country is in. God couldn't fix the mess this country is in a single day!!.

How are any of those GWB's fault? Which Bush policies do you believe are bad and caused the problems? And who is blaming Obama? I see Obama and congress policy decisions making matters worse but I don't blame the Anointed One for creating the mess. I believe he sees a good crisis worthy of exploitation.