Why Not Just Give it all to them?

AIG, you know the insurance company that spent nearly half a million dollars so its executives could get massages, eat high class food and stay at a getaway resort, after the bailout was passed, has received more money from teh government, this time in the form of 40 billion dollars. Jesus Christ, when will it end? This money comes from the 700 billion dollar bailout, and is the first time that money has been given to any type of company other than a bank, and I think it is crap.

AIG screwed themselves over by making bad investments, hedge funds, and mortgages. They kept investing in these systems, knowing full well that the market was on its way out. They stayed on the sinking ship, and instead of grabbing a life preserver, they grabbed more shrimp cocktails and martinis. This just pisses me off to no end. I realize they are a multi-national company with stakes in more than just the US market, but with everyone crying about what a Socialist Obama is, how can this be acceptable. Yeah he voted for the bailout, but so did McCain, and Bush was the major proponent of it. And yet neither McCain nor Bush were ever called Socialist.

Beyond that though, is the fact that we the taxpayers are still getting screwed. AIG had already received financial assistance from the Federal Reserve in September, and now they are getting 40 billion more. I wonder what they’ll be getting in January, when all of a sudden they are once again on the verge of collapse? If we learned one thing from Bush (and we should have learned many things from that awful administration) it’s that you can’t just throw money at a problem and hope it will go away. There has to be a real plan with cool calculated rationality behind it. So far, that seems to be sorely lacking with this bailout, and it looks like things are just going to keep getting worse and worse before they (eventually) get better.

See, I’m all for economic stimulus, but only if it will really do something. The 600 dollars we received from BuchCo back in April/May was nice, but come one, 600 dollars is nothing. It won’t pay rent, it won’t pay the mortgage, it might pay for one car payment. It wasn’t a band-aid so much as the piece of tissue paper you hold over the cut until you can get a band-aid on it. If they truly wanted to help the economy and the people, the government would give every citizen who pays taxes, or is enrolled in higher education 50,000 dollars. Now that would be a stimulus package, and that money would get back into the econmoy and things would start to defreeze again. It wouldn’t affect inflation any more than the current bailout so we wouldn’t have to worry about that. I think that if every tax payer got 50k, America’s economic crisis would be over in no time, and for the small businesses, give the 75,000 to 100,000 dollars so that they could pay their bills, and expand their businesses to create more jobs and such.

This is a pipe dream, but it would have been nice.

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8 comments on “Why Not Just Give it all to them?

  1. Adrienne says:

    The company I work for, a risk management software company, has AIG for a client. Actually, they’re one of our biggest clients. I’m quite certain though, that they did NOT follow any of the recommendations that would have come out of our software. I know for a fact that our software says that lending yourself money is a VERY BAD IDEA! I do worry a little that AIG going down would affect my company, but I admit, I also want to see those idiots take a powder…

    I agree with your stimulus package. MUCH more useful. But then, I live in a fairly socialist country (horrors!), and am totally fine with my federal government giving my province some money to help our suffering manufacturing industry. Ontario’s only helped keep the rest of this country afloat for… ever, so payback is due 🙂

  2. sorry to hear about your company’s connection to AIG, and I do hope that you are not affected by their stupidity.

  3. JollyRoger says:

    I never heard of a thief who could be satisfied by handouts. But Chimpy would know all about that, since he’s been handing as much of the Treasury as he can get his hands on to thieves for his entire Reign of Error. Socialism for the rich, the s__tter for the rest of us.

  4. Randi says:

    Don’t get me started on the bailout. It’s a disaster, I tell you. :/

  5. dmarks says:

    So many leftist-liberal senators voted for the bailout, and they are not “Chimpy”.So much for the idea of blaming the theft all on Bush.

  6. dmarks says:

    ObamaCo plans a bigger stimulus package, I heard yesterday.

  7. Sure, but the leftists weren’t the ones who proposed the bailout. Yeah, they went along with it, there is no denying that, and in fact I’ve repeatedly said that I am fully aware that President Elect Obama (then Senator Obama) voted for the bailout. But just because they voted for the thing, does not mean that they are responsible for the need for the thing. They are, to an extent, of course because the members of Congress exercised poor judgment in allowing de-regulation to happen. But the fact, really is that BuchCo policies are what led us here, and that Bush was the one who came up with the idea of, and pressed for the baliout. It is his baby, the rest of Congress just helped deliver it. They shouldn’t have, but they did, and now we are stuck with it. And guess what, it’s not working. Companies need more money, the auto industry needs more money, and they are probably going to get it. All the while American taxpayers and workers are losing their homes, their jobs, and are faced with serious economic depression, and quite possibly, starvation. Yet, the money goes to the large corporations who screwed themselves over, and are now screwing us over. No, the blame cannot all be placed on Bush, but the majority of it can. Don’t worry, though dmark, I am all for holding people accountable for their stupidity and I think it is atrocious that Obama and so many other Senators from both the right and the left voted for this thing. But then, that is not too surprising since they were able to get lots of nice special interest clauses into the bill before it finally passed. We the people of the United States need to show Congress that we are unhappy with them, and the best way to do this is to vote for the third party House or Senate candidate in the next election. Obama was elected on the promise of change, I hope he will live up to that promise. But the President is only one man, and despite what Bush tried to do with the executive branch, the President is not the ruler of this nation. However, for true change to come we have to get rid of those people (and groups) in power and replace them with people who have a different vision. Will they be better? Not necessarily, but we will never know if we don’t give it a try.

  8. I don’t have a problem with stimulus packages, if the money is going to the people, and if it will be a worthwhile sum. For example 600 dollars, while nice, was ludicrous in its smallness. 600 dollars will not make a house payment, it might make one or two car payments (if you’re lucky), and it will feed a family of four for a month, maybe, if they shop smart and cheap. It is not a lot of money, and as I said, it wasn’t a band aid for the gaping gut wound the economy has, but more of a piece of tissue paper that was as ineffective as it was thin.
    Don’t mistake my hatred of the bailout and corporate greed for my want and desire to help the people of America out. If a new stimulus package would go directly to them–not indirectly like with tax cuts or to businesses in the hope that those businesses would then somehow get the money to the people because that just doesn’t happen.
    I believe people should work for what they have (no hand outs and all that) but I also believe that everyone needs help sometime, and right now more Americans than not need help, so why shouldn’t we get that help when the current and possibly future administration are throwing billions of dollars down a sinkhole that shows no signs of clogging? If the government gave the PEOPLE the money, a big 50,000 dollar chunk of change to every tax filing person, we would be our of this recession in no time, and the banks would once again have money to lend because 50,000 is a good amount of cash that can pay rents, mortgages, car payments, and put food on the table. 600 dollars is like that last bit of milk that someone leaves in the jug, it’s enough to get a taste, but leaves you unsatisfied and needing more.

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