What is Digg?195 Comments
- inactive, on 10/24/2008, -4/+198Vacations were needed by many CEOs I am sure.
- inactive, on 10/24/2008, -8/+163I wish they'd stop calling it a "federal bailout" and refer to the money AIG is wasting as "stolen taxpayer dollars". These pirates will be back for more tribute within days unless we repel them.
- trunks13, on 10/25/2008, -3/+78That's what AIG was suppose to do with the loan - pay off bad debts and to prevent it from bankruptcy. There would be more outrage if AIG just hoarded the money for it's balance sheet.
- IamNOTmrT, on 10/24/2008, -1/+66"The news comes as the company's new chief executive warned Wednesday that the government's financial lifeline may not be enough to keep AIG afloat."
They must be kidding. Is anyone accountable for this money? - ethanator1088, on 10/24/2008, -8/+65I knew this was all too good to be true. This was not a Federal Bailout, this was a Federal vacation giveaway for the rich!
- vroom101, on 10/24/2008, -3/+55Let me state the obvious . . .
We the People of the United States of America DO NOT have unlimited cash! - dupswapdrop, on 10/25/2008, -0/+51That's a lot of hookers and blow!
- Tape99, on 10/25/2008, -0/+45vegas.
i bet $123 billion on black. - IAmTheGuy, on 10/25/2008, -0/+39This was to be expected by anyone who thought about the situation even for a minute. Action needed to be taken quickly to prevent AIG from going under. If speed was crucial then why wouldn't they spend a bunch of money in the first few weeks?
- MarkusX, on 10/25/2008, -2/+34Crazy. I want $123 billion, I'm sure I can use it up in 4 weeks, by going shopping with my wife. :-)
- bonlebon, on 10/25/2008, -0/+32Socialism for the riches.
Brutal capitalism for the masses. - jonathangerlach, on 10/24/2008, -0/+31Of course not. That's why everyone called their congressmen and told them to vote against the bailout.
- MacBookForMe, on 10/24/2008, -1/+31...in expensive hotel resort with a proper additional treat...
- no2gates, on 10/24/2008, -1/+31But it's gone to really good causes. You can't just go to any sushi restaurant for corporate lunches you know.
- Waiting2awake, on 10/24/2008, -0/+29Yeah, how did that work out again? ..
- inactive, on 10/25/2008, -0/+26I'm in Canada and heard a news about recently saved company that sent a couple of CEOs in California for around 400,000$ expanses...
That's em eh?
unbelievable to us, normal citizens. I just don't get it.
And that guy stealing 100$ from a cashier is going straight to jail.
CRIMINALS WITH A TIE! - AbsurdParadox, on 10/25/2008, -12/+37"stolen taxpayer dollars" is redundant.
- lordwow, on 10/25/2008, -0/+23In other news, AIG executives plan a resort trip next month to celebrate spending the entirety of their bailout.
- Nattybumpoe, on 10/25/2008, -1/+24They've gotta pay those executive salaries to keep the executives there.
- Insightful, on 10/25/2008, -1/+21I am sorry. How f'ed up of a company (or rather, the economy) do you have to used up friggin' $90.3 billion dollars in 5 weeks?
And who the hell is getting this $90.3 billion? Not any company or country that I know of.
I got to admit, at first, I was just mad. Now I am still mad but now a bit worried. - numb, on 10/25/2008, -0/+20But they keep their profits and only socialize their losses.
- DCJoeDogaswell, on 10/25/2008, -5/+24Stop talking logical, it'll only get you hurt around these parts. LOL
- ha$$le, on 10/25/2008, -0/+19Cut them loose. Let them die.
- jonathangerlach, on 10/25/2008, -1/+19The job of a representative is to represent the people. It's not my fault they can't do their jobs.
- ren1999, on 10/25/2008, -1/+19Why do we have to guess if our tax dollars are going towards executive bonuses, long business meetings at resort spas, and severance pay? Why is there no oversight instated by the government to account where our tax dollars are going?
It is because there is no more Democracy in the U.S. We told our congress-people not to bail out AIG and they passed another bill a week later ignoring us!
Let this be a warning. The people need to be listened to. The government should fear the people. If not, just look at history to see what happens every time. - seantubridy, on 10/25/2008, -1/+19Until their CEO's stop paying themselves salaries and they all stop going on vacations, I have no pity for them.
- snafflepaffle, on 10/25/2008, -0/+18If an institution is too big to fail then its probably too big to exist. Time to let it go to be replaced by more reasonably size companies.
- michigander, on 10/25/2008, -0/+18Why doesn't the government let these companies fail?
Business failure is as important to our market as having companies succeed.
It weeds the weak and greedy companies out from the successful companies.
It is what makes the market economy strong, and the government is in its way with these stupid bailouts. Politicians know nothing about the economy. - sonofabeast, on 10/25/2008, -0/+17I've already seen this movie.
http://www.imdb.com/title/tt0088850/ - netneutrality, on 10/25/2008, -2/+19Sure ya do. Where do you think the $11 trillion debt comes from? They make it up. Money in an account is little more than a field in a computer database to the Fed.
- thePTS, on 10/25/2008, -0/+17no,no,no... you see, this is an epic battle between the EVIL state commies and Joe american, who just got his money STOLEN from him. :P
/sarcasm
People are so stupid. Of course they were going to "spend" the loan (yes, *LOAN*) right away. Who takes up a loan not to spend it right away? What would be the point of that? - dalittle, on 10/25/2008, -0/+16Never throw good money after bad. This was a terrible decision to give them anything.
- ElphabaLives, on 10/25/2008, -0/+16Golden parachutes to accompany the golden private jets, along with golden mansions that have golden bathrooms that provide golden showers... uh wait.
- pintomp3, on 10/25/2008, -0/+16vegas would be a better bet than giving it to corporate raiders.
- akira117, on 10/25/2008, -3/+18The US is so *****.
- keithloughnane, on 10/25/2008, -0/+15biggest grift in history
- TexasKoz, on 10/25/2008, -1/+16AIG should do what most families do in a cash crunch....Spend Less, Sell off assets and re evaluate spending habits. Get rid of the unnecessary crap.
- commdiver34, on 10/24/2008, -4/+19Why not just do away with AIG? won't the big wigs just file for bankruptcy anyway to get out of it? i would think if they are sooooooooooooo "smart" just start another business you can run into the ground?
- MrPig, on 10/25/2008, -15/+30You people need to understand that AIG put a very large portion of the money BACK in the government in t-bills. AIG needed to get more assets on their balance sheets so they took the money and purchased government backed treasury bills.
The money is not spent. The money is not gone. The money was just put in treasury bills which AIG will get right back.
"Apparently the recipients of this tsunami of cash are all buying T-bills with it, or putting it in their mattresses, or socking it away in a mayonnaise jar in the garage.
Instead of, you know, lending it out."
Honestly, Diggers need to stop jumping to conclusions. The rest of the money has been used to get rid of bad debt.
Further, people need to understand that the government having an 80% stake in AIG could also end up benefiting the tax payer. - memper, on 10/25/2008, -0/+13It's going to foreign investors who want their money back.
- IamNOTmrT, on 10/24/2008, -0/+13And I'm sure there are a few English football teams who needed a new shirt sponsor
- aresef, on 10/25/2008, -0/+13I think it's the American people getting the golden shower.
- kboyer, on 10/25/2008, -4/+16We should have just let them go under and let the market do its thing. Natural selection should be allowed to work in our economy too.
- derble, on 10/25/2008, -0/+12I think you meant this:
http://www.imdb.com/title/tt0109287/ - fuckingusername, on 10/25/2008, -1/+12
its time to pull out the pitch fork - thePTS, on 10/25/2008, -1/+12That's how americans are brought up to believe the economical system works; like a "pure" supply/demand driven natural entity. Unfortunately, that's not true.
Laws against price collaboration and monopolies are good examples of something you won't find in nature. There are many other "holes" in the capitalist system that are less visible. Lobbyists, partisanship and corruption for instance. Power doesn't always corrupt, but some times it does. - pintomp3, on 10/25/2008, -1/+12they deserve firing. preferably in squad form.
- spikepeck, on 10/25/2008, -0/+11So, we could have been without this company a little earlier if we did not forward them "cash and prizes" to bail them out. Two loans already, time to assume the company on behalf of the country and if it dies, it dies. When it is time for Berkshire Hathaway to need a bailout, then I will be scared. As for now, eff AIG
- inactive, on 10/25/2008, -6/+16i'm going to play devil's advocate here. i'm pretty sure all of that money is not going to executive pockets. there's no way in hell they can run away with 60 billion dollars. they're probably spending that money to keep their company afloat, which was the PURPOSE of the bailout. please RTFA, and use some common sense.
- adml_shake, on 10/25/2008, -0/+9"AIG has borrowed $90.3 billion from the Federal Reserve's credit line as of yesterday, the bulk of it to pay off bad bets the company made in guaranteeing other firms' risky mortgage investments. That's up from roughly $83 billion AIG had borrowed a week ago, and the $68 billion level it reached a week before that. The news comes as the company's new chief executive warned Wednesday that the government's financial lifeline may not be enough to keep AIG afloat. "
Then let it sink. -
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