Mbuna

AIG and Our Core Economic Issue: Unknown Asset Values

The real issue here is that AIG opened up their own gambling casino with CDS's and lost. AIG is now effectively extorting money from the US government and thus from us all. In my opinion, anyone who fails to address this issue directly is either blinded and brain dead due their own greed or refuse to acknowledge it out of their own greed. It is an orientation toward self and away from any kind of greater good. This kind of lawlessness needs to come to end with new laws, enforcement and big time criminal prosecution Additionally,the US should subpoena every email and every top executive from Goldman Sachs, who've had their hand in the AIG till from the beginning but there has been too much cronyism between Goldman and the government for the real truth to come out. If you really believe in free markets then Goldman would have already been history by now.

Global Cardiac Arrest

It remains to be seen whether this is a global cardiac arrest or is it the Titanic sinking and the only real option is to abandon ship!? Now that the economy really is global there is no longer any real freedom for provincial financial and economic thinking. Someone better start to re-examine the fundamental assumptions about fiat money systems. Just because something worked for 50-60 years doesn't mean it's going to work forever. Who will start thinking outside the box?

The Great GSE Meltdown: Market Adding Fuel to Fire?

"This will totally impair the ability for Citigroup (C), Merrill Lynch (MER), and Lehman Brothers (LEH) to raise capital." These 3 companies were clearly insolvent 6 months ago IMO as a result of the gathering of the perfect financial storm which has cut off any possible escape route. The only drama playing out now is how long they can artfully hide their insolvency. Everyone is in over their heads and Bernanke and Paulson can do little more than put bandaids on to try to protect the interests of their constituents. No one is thinking outside the box they are in. As for the GSE's, they were a convenient vehicle for propping up the housing market for a time but as we all can see that time has ended. I think it better to start thinking about the fact that the US government is well on its way to losing its AAA credit rating. At least you have seen that there is the possibility of there being no winners in this game. For most players that is unthinkable.