nova

AIG Is Dead, Long Live AIG

balois wrote:
"Now there s a juicy conspiracy theory rumored in Europe."

There is definitely a conspiracy. Just look at Obama and how fast he "got on board" continuing GWB policies.

We do not know what these conspiracies are all about but the FED, the Treasury, and financial participants are doing everything in their power to prevent any information about their operations and their real intentions.

Some of Obama actions look crazy but may be he is crazy like a fox. Most disturbing, America public knows nothing about real intentions of Obama regime and leading politicians. However, America interests are not on the top of their agenda!

Ritholtz, Ratigan Take on the 'Giant Vampire Squid'

La Marque wrote:
" Goldman is still an investment bank now taking the taxpayers for
a ride as a 'bank holding company.' The FED should revoke their ''bank holding company' status."

This is really funny taking into account that Goldman is one of the major FED owners.

Why Congress Is Asking Bernanke Bogus Questions

GregT wrote:
"Quite honestly, someone with your level of critical thinking should not be writing articles for Seeking Alpha"

This is a typical example of today "politically correct" thinking. If someone does not kiss ass of the government, the one must be an enemy.

It appears that America has crossed a point of no return when Democracy and the Constitution are not valued. For the last 200 years, these were the most important building blocks of American power and prosperity but not anymore.

Presently demagogues, thieves, and gangsters are running America with the rest foolishly believing in propaganda miracles of going back to "the old good welfare prosperity". WOW!

Bail Out for Dummies - Part I

The most incredible thing I am reading about is so called "money growth & currency devaluation" theories.

If only the FED/government could devaluate US$ and print more money back in early 1930s, the Great depression would be gone in no time. By the way, FDR did devaluate US$ regarding to gold.

These economic geniuses and/or liars built their theories from thin air and in a vacuum.

Let us examine the reasons. By devaluating US$ and printing more fiat-money will trigger following events:
- Debtors will be able to get from under their debts much more easily
- Lenders and debt holders will be greatly compromised being the major losers
- General population standards of living will be greatly reduces due to inflation
- The parties responsible for economic collapse will be handsomely rewarded

The story goes that there are always winners and losers. In vacuum, things are fine, no problems. But,
- Why, in their sound mind, will lenders continue extending/providing credits to parties who are unable and/or refusing to pay back?
- Impoverished general population will be enraged by being openly screwed up. Forcing innocent citizens to pay for crimes committed by the economic & political elite will lead to social unrest and upheavals.
- Rewarding perpetrators, even by "restoring" some resemblance to the previous status quo, instead of curing the original problems will greatly exacerbate them.

Sorry, nothing is free. In any case, somebody must pay for the crimes, either perpetrators or victims. Somehow, Obama administration, the Congress and Wall-Street think that they can without any impunity screw up the country and its citizens by using and appealing to the least productive elements of the society. WOW. This how revolutions are coming about.

How Much Risk is the Treasury Really Assuming from Financial Institutions?

[a corrected version]

It appears that the entire US financial & government cartel continues it fraudulent and criminal activities.

By saving this criminal enterprise, the US economy and the political system will gain nothing good but will regenerate a dangerous vampire back to life and save corrupt politicians this monster feeds and controls.

It becomes crystal clear that a failure to rejuvenate this monster is in the best interests of America and its people.

How Much Risk is the Treasury Really Assuming from Financial Institutions?

It appears that the entire US financial & government cartel continues is fraudulent and criminal activities.

By saving this criminal enterprise, the US economy will gain good nothing but will regenerate a dangerous vampire back to life.

It becomes crystal clear that a failure to rejuvenate this monster is in the best interests of America and its people.

Exclusive: Big Banks' Recent Profitability Due to AIG Scam?

prudentinvestor wrote:
" The government had to make a choice: (a) nationalise the large banks and reboot, or (b) prop them up and save their powerful managers. They chose (b), which requires shovelling hundreds of billions, if not trillions, into private for-profit companies, at the expense of taxpayers. so this "news" is no surprise, and likely just the tip of the iceberg."

Something very similar did happen in the former Soviet Union 15-20 years ago. The first Russian president Boris Yeltsin together with a group of selected con-artists looted the entire state. The general population standards of living went down 85%. All savings were completely wiped out.

At the same time,using very sophisticated schemes,
- Zillions of US$ were transfered into offshore accounts of Yeltsin family members and close to president con-artists
- General population became impoverished
- Suddenly a new class of Russian oligarchs appeared. At least dozen Russian oligarchs immediately appeared in the Forbes 100 riches people of world. These oligarchs seized all most profitable companies and enterprises.
- To protect themselves and their loot, Yeltsin transfered all political power to the State Security Agency (a.k.a. KGB) and their boss A. Putin. Consequently, Russian people found themselves back in "state slavery times".

How was is done? It all was done under a slogan of "Democracy and Privatization".

"Privatization", in a nutshell, worked very simply:
- Privatization of most lucrative enterprises was done "privately" when billion-dollars corporations were transfered into "right" hands for just few millions dollars
- These "right people" got these millions dollars for free quietly from the State banks.

Our former president GW Bush was very good mind reader. He looked into Putin's eyes and recognized someone very close to him: the same gangster, liars and a thief.

WOW. America, you have selected the Russian way going to the future.

AIG Bonuses Are Just the Tip of the Iceberg

It appears that everybody (Obama and his associates, politicians, prosecutors, media, etc.,) are talking about our economic ills AND nobody is doing anything about corruption, fraud, looting.

Just talking... Well, Obama and politicians think that all we need is more money to steal and loot.

AIG's Blackmail Note

We all were told BIG scary stories:
- Saddam was about to nuke the USA (it was a big lie)
- Terrorists were about to do something really terrible. We had supper RED-alerts (it were lies)
- Paulson and Congressional leaders told us really horror stories of horrendous consequences if the $750B-bailout package would not be approved immediately (it was a big lie)

Now, we were told about a TERRIBLE catastrophe to be about to happen if AIG and Detroit are not saved.

Well, just may be, we have nothing to fear except a fear itself.

Let put AIG and Detroit through regular bankruptcy proceedings, clean up all this mess, and live happily after.

How to Not Pay the AIG Bonuses

Just look at the list of companies AIG was paying billions of US Treasury dollars to. This list includes the majority of US major banks.

How convenient. AIG became "a fall guy" for the Wall-Street and the major banks. The former Goldman's chief Paulson, being the Treasury Secretary, devised a very good script to channel government (taxpayers) money to Goldman and other Wall-Street using a very elaborate scheme of conduits including AIG.

It is very important to find
- When were these insurance contrats signed?
- Who negotiated these insurance contract?
- What prices did Goldman and others paid for these contracts?

Summary
Taxpayers must know exactly where all the money are going. The Congress, presidential administration and FED frauds must be exposed.

How to Not Pay the AIG Bonuses

It had to be done a long time ago: force AIG into a bankruptcy and then sort it out.

As for bonuses, nobody have to force a bankrupt company to pay bonuses.

Lastly, a bankrupt company does not have to pay most of its obligations.

Summary
Sort it all out through bankruptcy process. it is time to stop all these special deals and special favors.

AIG Needs Transparency, Now

AIG was a private company. It supposed to stay that way: if it becomes bankrupt then so be it.

As soon as our government got involved in there, it became a problem for all taxpayers. It is one more example of government's interference in private company operations that created lots of troubles for everybody.

The Road to Economic Hell

It becomes more and more obvious that American political & economic crisis resembles to what has happened in Soviet Union 20 years ago.

Soviet corruption was rampant at all levels of government and business. Gorbachev tried to make changes, like Obama does now. However, these changes were more social in nature without cleaning up economic and government corruption with bailing out of of major institutions.

As result, Soviet situation started to deteriorate very fast. Gorbachov was overthrown by the elite. Major political and business institutions collapsed leading to
- Incredible looting by insiders with assets moving abroad
- Nation impoverishment with standards of living losing 80%
- Civil liberties (whatever they had at that time) were lost for at least for a generation

Looks familiar? Well, Obama economic & political changes do not address the roots of the present crisis. Consequently, they are destiny to fail.

The AIG Scandal

"We cannot allow this massive amount of white collar crime to go unpunished."

Well, Obama and US Congress do not think so. They are fully behind these hoodlums.

Just look at Mandoff and his family enjoying their penthouse living, and these people were robbing banks and individuals investors indiscriminately.