Wasn't AIG supposed to pay back the $150 billion taxpayer

[Subdivisions]

bailout money that has already been loaned to them? And now you mean to tell me they are about to report a loss of $60 Billion???

THAT'S A $210 BILLION LOSS IN JUST 3 MONTHS!!!

I WANT MY FUCKING MONEY BACK!!!!!

And, where the FUCK are you assholes that led the cheers in support of these bailouts???

What do you have to say about this???

http://www.dailyfinance.com/2009/02/23/aig-to-post-60-billion-loss-is-it-time-to-stop-the-bailout-mad/">AIG to post $60 billion loss, is it time to stop the bailout madness?

[Captain Hilts]

1. We'll always have Man U. and Ronaldo.

[Subdivisions]

6. And don't forget a nice lounge

"at the luxury St. Regis Resort in Monarch Beach, Calif., running up a tab of $440,000".



http://voices.washingtonpost.com/livecoverage/2008/10/after_bailout_aig_executives_h.html

[Mnpaul]

2. Ask Norm Coleman

He said we were getting our money back ten fold.

:rofl:

[David Dunham]

3. AIG was so interconnected that its collapse would have destroyed the US economy

The money given to AIG was to avoid a total and immediate collapse of our economic system. Getting paid back any time soon was not the reason the money was given to AIG.

[Subdivisions]

5. Bulldust!!! ENOUGH WITH THE FUCKING EXCUSES!!!

It's going to destroy the economy ANYWAY! Only now it's costing us at least $210 Billion! And then some!

[Renew Deal]

8. "It's going to destroy the economy ANYWAY"

Yup

[Renew Deal]

7. How much money will it take to prevent AIG from going under?

And at what point does letting it go become more economical?

[Subdivisions]

10. AIG: Inquiring Minds Want To Know

http://market-ticker.org/archives/824-AIG-Inquiring-Minds-Want-To-Know.html

[Idealism]

4. I would suggest a Google search on Credit-default swaps

The market for these exotic instruments (that AIG underwrites) peaked at around $60 trillion. The market has shrank significantly to its current size of around $20 trillion- still a shit load of money.

And AIG holds almost all of the CDS written.

[Subdivisions]

9. Do you have a link to substantiate that difference in CDS valuation?

As far as I've seen, those CDS haven't even been valued because no one knows what they're worth.

[Idealism]

11. You are confusing CDS with CDO's, or possibly MBS

Credit-default swaps are essentially insurance policies that insurance companies (like AIG) sell to companies and to investors. You can purchase a CDS on practically anything. Betting against the Latvian government, for example, has been quite profitable for some firms as the country has fallen into bankruptcy despite IMF loans.

The market for CDS is hard to pin down, not because they aren't able to value the insurance policies (they have set in stone values for payouts once their clauses are met), but rather the lack of any type of clearinghouse for them. The International Swaps and Derivatives Association goes on good faith and corporate balance sheets. That is why they are estimated.


http://www.time.com/time/business/article/0,8599,1723152,00.html

The CDS market exploded over the past decade to more than $45 trillion in mid-2007, according to the International Swaps and Derivatives Association. This is roughly twice the size of the U.S. stock market (which is valued at about $22 trillion and falling) and far exceeds the $7.1 trillion mortgage market and $4.4 trillion U.S. treasuries market, notes Harvey Miller, senior partner at Weil, Gotshal & Manges. "It could be another — I hate to use the expression — nail in the coffin," said Miller, when referring to how this troubled CDS market could impact the country's credit crisis.