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Originally Posted by roachboy
basically, what dippin said is a good response to you, ace.
i don't think you understand what's going on. if you remember--and i expect you don't---the bush people's move relative to a.i.g. was forced on it because of the magnitude of the asset pool it insured, the fact that national governments stood to loose enormous amounts if it went under--a.i.g. was a danger to the financial system as a system. talking about allowing institutions to fail as if they're in any meaningful way a collection of buildings separated from other collections of buildings and not nodes within very complex, very high=speed capital flows is absurd.
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How were national governments going to loose enormous amounts of money? If the issue was an issue of liquidity (or timing) no one was going to loose anything they may have simply needed to wait. And wasn't the original point of the money given to AIG for AIG to pay it back. If they can pay the Treasury they would have been able to pay other creditors. So, come back with something that makes sense rather than the superficial b.s. being sold to the public.
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the obama administration probably should have already nationalized a significant portion of the banking sector, including aig.
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Gietner is having problems filling his staff, can't draft a detailed banking plan, can't even do his own taxes coreectly, and you want him in charge of a significant portion of the banking sector. O.k., is that it?
---------- Post added at 03:56 PM ---------- Previous post was at 03:51 PM ----------
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Originally Posted by silent_jay
So then Iraq was a mission, not a war.
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The Iraq war included several different phases. The first phase included invading the country and neutralizing Saddam's military. The occupation phase of the war proved to be the most difficult. But all these phases are under the "umbrella" of the war. Before you can go into a rebuilding phase you have to succeed in the phases that precede it.
---------- Post added at 04:02 PM ---------- Previous post was at 03:56 PM ----------
Quote:
Originally Posted by roachboy
this, ace, isridiculous.
the reason it's ridiculous is that in order to make this silly analysis happen, you have to pretend that aig is just another insurance firm.
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I don't remember who said it but AIG was an insurance firm acting like a hedge fund. And other than the superficial "because I said so" logic no one has spelled out why AIG was too big for bankruptcy.
If probing into that is ridiculous, I am guilty. I need someone to explain why AIG was too big for bankruptcy. Seems to me, that people like you actually could have used a few people like me in Washington before committing billions into a failed corporation.