I'm really pissed about this AIG deal.

[Renew Deal]

It is outrageous that private for-profit companies are being taken over by the government. Who gives the government the right to do this? Doesn't the money need to be properly appropriated or does the fed just have a slush fund to play with?

I am so disgusted right now. The feds can bail out a company because of the bad decisions they made. What happened to the free market??? How can a company become too large to die? What precedents are we setting here? Is the point of business now to get so large that you can make all of the bad, immoral, and greedy deals, take the profits, and then the feds will bail you out?

There has to be a way to stop this. Where the fuck is congress? Where are the free marketeers? Where are the assholes like Norquist? Who is going to say no to this??? All of the banks, investment firms, insurance companies, and others that can't survive on their own should be permitted to die! I feel bad for their employees. I work near Lehman Brothers and I know how bad it is. But it's going to be much worse to temporarily prop up these corporations. It doesn't solve the core problems and it doesn't allow the natural flow of the free market. The stalling tactics will make it so much worse.

Bush will certainly go down in history with Hoover. Our grandchildren will learn about these times the way I learned about the times of my grandparents. I am so angry and sad right now. Fascism and the socialization of risk are happening right before our eyes. And for some reason, no one that matters is doing anything about it.
:argh:

[maxsolomon]

1. there's no slush fund

they just throw it on the pile with the rest of the bush debt.

[grannie4peace]

2. that slush fund is the social security reserves

[spinbaby]

4. What social security reserves?

They done spent that years ago.

[lapfog_1]

3. It's the Donald Trump syndrome

When you owe the banks $100,000 or so... the banks own you.

When you owe the banks $100,000,000 or more, you own the banks.

They can't allow you to fail.

Now add some zeros and "you" are AIG, and "banks" is the global markets.

[soleft]

5. I'm not

October was going to be a three paycheck month. Only way anyone was getting a Xmas present from me this year. Plus there's that rent and grocery thing. Oh, and heat. Could probably do without electricity, but then I wouldn't be posting much.

[Oregone]

6. Soros: Saving the system trumps moral hazard. In the end you do whatever it takes to save the system

I somewhat have to agree. People are outraged about why this is "right" or "wrong", but thats not really the point here.

Unfortunately, I would of preferred they spent more time/money preserving the actual mortgages that caused a lot of this crisis. Too late for that of course.