AIG casually decides not to pay back borrowed taxpayer funds

Wonderful. First they rob us blind, then blithely default. I wonder if their accounting and collections departments are so casual about how the company treats debt owed to AIG.

One year after the biggest corporate bailout in the country's history, a government watchdog office Monday warned that American taxpayers may not recoup the full $182 billion given to embattled insurance giant American International Group.

One year after the biggest corporate bailout in the country's history, a government watchdog Monday warned that American taxpayers may not recoup the full $182 billion given to insurance giant AIG.

"AIG's ability to restructure its business and repay the government is unclear at this time," the Government Accountability Office said in a new report released Monday.

More at source:
abcnews.go.com...

reply to post by silent thunder


undergroundbombshelter.com...

Companies get "too big to fail" when dumb republicans decide that we don't need regulations, because "the market can solve all our problems."

Well here's the solution: Let the banks fail and have the great depression II. OR Bail them out and say goodbye to the money.

Good job, republicans.

Do what those american debt collector companies do. Everyone phone them up continuously and jam their switchboards. Inquire when they can next make a payment. Tell them them you will be coming round for a visit.

reply to post by Kaytagg


Easy now...the Republicans that did this crap were NeoCons that split with the Democratic party back in the 70's. Don't blame us all for the screw ups of a few.

reply to post by midnightbrigade


Oh, ok. They're not representative of Republicans because they've only been in the party for 30 years and running it for the last 15.

Originally posted by Kaytagg
Companies get "too big to fail" when dumb republicans decide that we don't need regulations, because "the market can solve all our problems."

Well here's the solution: Let the banks fail and have the great depression II. OR Bail them out and say goodbye to the money.

Good job, republicans.

To blame any one party for that is both ignorant and false. Its not the republicans or democrats fault when the regulations you are talking about have been slowly eroded for over 20 years, during both Republican and Democrat administrations, and while each party has had control of congress for a time.

The 'too big to fail' phenomenon was also not purely caused by a lack of regulation. Part of it was a lack of regulation in some areas, and then over regulation in other areas as the govt forced institutions to make more of certain types of loans than others, and then also a monetary policy that kept rates too low for too long.

Point is, if anyone tries to blame any particular party or politician it shows they don't understand the situation and haven't done much research. More likely than not, anyone that blames any single party or person has just been sucked in by a party's or interest group's talking points. There is lots of blame to go around. This crisis has been building for decades....

Funny.

The Repaying the American Taxpayer Act of 2009 was written and sponsored by a Democrat. Republicans just signed on.

And again already with the party rhetoric.

Well done guys, not even a whole page in and you're already distracted and arguing over who is to blame, they would be proud.

THEY'RE BOTH AS BAD AS EACH OTHER!

Your vote is meaningless and nothing but "audience participation". You're all watching a pantomime, and when you vote you're just shouting "he's behind you!"
You pick the bad guy, or pick the good guy, and support them with fevered screams and howls, but it's the same people behind the stage.

Focus on the issue here.
We've all been robbed, on a massive, historical level. It doesn't matter who was in power or who is in power now, they are just the actors for the company, putting on a grand show to reinforce the myth that you somehow have an opinion or any control over who controls you.

Now that's out of the way, what are you going to do about AIG exactly? And where is the surprise here?
Intelligent people knew a year ago that this was all nothing but robbery.
I'm shocked that there are still people out there in the world remotely surprised by this news.

What you should be doing is taking direct action. Protest. Join action groups and start putting pressure on the people who robbed us. Turn off the MSM and start supporting alternative news, give them your opinions. Write to people. Spread the news and educate others on exactly what is going on.

Or, you could stay on forums and take cheap shots at each other about what each party has done while doing nothing about the actual problem.

I think I already know what path most of you will take.

Maybe the FBI will use the RICO laws and arrest the all the corporate officers of AIG.

having the company run by the government, Jail and having the assists frozen for about 5 years while waiting for trial would teach them a lesson.

Even if the won they would still lose everything.

reply to post by mythatsabigprobe


No, they aren't a representation of Republicans because they have completely subverted what the Republican party stood for.

detachedindividual, you sound like an out of power partisan.

I read the memo.

The title of this thread is totally misleading...the article states quite clearly that it is not clear at this time that a restructured AIG can pay beck the bailout...not that they have decided not to.

Originally posted by grover
The title of this thread is totally misleading...the article states quite clearly that it is not clear at this time that a restructured AIG can pay beck the bailout...not that they have decided not to.

Agreed. This wasn't about AIG deciding not to pay back the US taxpayer. It was about them maybe not being able to.

reply to post by johnny2127


I thought that threads with sources had to quote the title of the article exactly.

The original article title is:


AIG's Payback to Taxpayers in Doubt
Government Watchdog Says Disgraced Insurance Giant AIG May Not Repay All of Its $182B Taxpayer Tab

reply to post by grover


I'm not sure about that. I know if its posted in the Breaking News sections it has to be exact. Regardless, you are right, the title is misleading.