You mean you don't trust these guys on the economy?
They look so experienced and confidence inspiring.
Posted on 03/16/2009 3:51:36 PM PDT by governsleastgovernsbest
AIG is the Governments' lynchpin for distributing money to foreign banks. They (FED or Treasurey) give the money to AIG, to funnel it to China, European and Australian BAnks. They do this to keep these banks from imploding because these banks were levereged more than Bear-Stearns, Goldman, and Morgan Stanley combined. These foeign banks bought "securities" in the form of derivitives to securitize the 100:1 levereged purchaces of stocks, bonds, etc. The contract between those agents and AIG were to trigger performance and payment of those securtized purchaces if their purchaces became actual loses. As long as there was no downturn in those equities, the security was nominal. Once triggered it had to be payed by contractural obligation. But once a claim was made for specific performance, AIG said, "We ain't got the money!" This meant it put all of the European and Chinese banks at risk for immediate (IMMEDIATE) insolvency. Not 24 hours later. RIght then and there! That is what happened on September 16,2009, a date which will live in enfamy.
The people of the United STAtes of AMerica own 80% of AIG. Treasury and the FED will never, never allow AIG to move to insolvency because it will mean the destruction, in a very immediate sense of the entire global economies.
So, all you are hearing from Barney Fag, Obama, and the rest, is simply posturing and mugging for the camera. It is a disgusting display of politics at its most cynical.
Folks, we are screwed, blued, and tatooed. There in no way out of this ditch. Bernanke trying to let the derivitive bubble burst in slowmotion is fantasy land. There are more than 1.4 quadrillion dollars of derivitives out there waiting to be triggered. And if, if, the derivitives don't take us down, the ensuing lawsuits for nonperformance surely will.
Get out of debt, protect you and your families to best of you ability and pray. Ruination is just around the corner. This administration looks like the Marxs Brothers and keystone cops all rolled into one.
You mean you don't trust these guys on the economy?
They look so experienced and confidence inspiring.
Amen
In the ideal sense, maybe. But in practice, wasn't it Jefferson who had journalists on his payroll digging up dirt and muckraking his political foes?
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