AIG - Page 20

tw · 03-24-2009, 08:47 AM

Quote:

Originally Posted by classicman

Did I miss anything?

Nope. You still posted nothing about AIG and again took cheap shots at Obama. You are consistent.

depmats · 03-24-2009, 10:30 AM

Allow me to sum up the last eight years:

Quote:

Nope. I still posted nothing about the topic at hand and again took cheap shots at Bush. I am consistent.

xoxoxoBruce · 03-24-2009, 10:39 AM

Quote:

Originally Posted by sugarpop

... And why has SO MUCH of the money WE gave to AIG gone to foreign banks? Shouldn't foreign countries be bailing out their own banks?

Probably because they are like dominos. The whole world of finance is literally world, and if the foreign banks go down, so do we.

lookout123 · 03-24-2009, 10:53 AM

And it might just be that some of the best investments out there are banks. Does anyone believe all of the banks will fold? I don't. I see a lot of financial stocks that have been absolutely crushed to the point they are worth less than even their intrinsic value. I wouldn't mind buying a company stock that once reached $60 and is currently <$3. if it will recover even half of what it was then I'm a huge winner.

classicman · 03-24-2009, 11:36 AM

Quote:

Originally Posted by tw

You are consistent.

Yes I am consistent. I have posted plenty both pro and con about Obama. I have posted more variety and relevance than your same old tired, boorish, condescending rant. I can't even say rants anymore since they've blended into one long waste of space.

TheMercenary · 03-24-2009, 12:05 PM

Quote:

Originally Posted by sugarpop

What? You think Michelle Malkin is actually unbiased?

What news commentator is unbiased to some degree? Remember these people are not reporters, they are commentators.

TheMercenary · 03-24-2009, 12:06 PM

Quote:

Originally Posted by lookout123

And it might just be that some of the best investments out there are banks. Does anyone believe all of the banks will fold? I don't. I see a lot of financial stocks that have been absolutely crushed to the point they are worth less than even their intrinsic value. I wouldn't mind buying a company stock that once reached $60 and is currently <$3. if it will recover even half of what it was then I'm a huge winner.

I have a few friends who are doing that with some banks here in GA. I think it is to risky.

lookout123 · 03-24-2009, 12:07 PM

It depends on what amount they're investing. 10% of their net worth? too much. 1% of their networth? no problem.

TheMercenary · 03-24-2009, 12:14 PM

Good point. I don't know what their details are. I just sounded risky because of the number of banks being taken over by the feds.

lookout123 · 03-24-2009, 12:19 PM

Nobody knows where it will end but technically the feds aren't taking them over, they're buying shares. Hopefully they will sell the shares in the future and allow share price to move entirely with the demands of the market. Sometimes those flyers pay off.

TheMercenary · 03-24-2009, 12:23 PM

Quote:

SAN FRANCISCO -- Commerce, Ga.-based Freedom Bank of Georgia was closed by regulators Friday, marking the 17th bank failure of the year, the Federal Deposit Insurance Corporation said in a statement. Lavonia-based Northeast Georgia Bank has assumed all of the failed bank's deposits, the FDIC said. As of March 4, Freedom Bank of Georgia had roughly $173 million in assets and $161 million in deposits. The FDIC estimated the cost of Freedom Bank's failure to its deposit insurance fund will be $36.2 million.

http://www.foxbusiness.com/story/mar...ed-th-failure/

classicman · 03-24-2009, 12:37 PM

Quote:

Freedom Bank of Georgia had roughly
$173 million in assets and
$161 million in deposits.
The FDIC estimated the cost of Freedom Bank's failure to its deposit insurance fund will be $36.2 million.

What were the liabilities?? That info seems strange - no?

lookout123 · 03-24-2009, 12:39 PM

many of the assets are probably foreclosed homes. those have outstanding debt showing in the liability column which isn't shown there.

TheMercenary · 03-24-2009, 12:42 PM

Well there are a bunch of links to this bank news, I didn't go through more than a few. I posted it as an example of, I believe, the third bank in GA to be taken over.

lookout123 · 03-24-2009, 12:45 PM

normally banks pulled in by FDIC are sold off to bigger better banks, but I think we'll have to wait for the dust to settle before that happens.

03-24-2009, 10:53 AM	#289
lookout123 changed his status to single Join Date: Apr 2004 Location: Right behind you. No, the other side. Posts: 10,308	And it might just be that some of the best investments out there are banks. Does anyone believe all of the banks will fold? I don't. I see a lot of financial stocks that have been absolutely crushed to the point they are worth less than even their intrinsic value. I wouldn't mind buying a company stock that once reached $60 and is currently <$3. if it will recover even half of what it was then I'm a huge winner. __________________ Getting knocked down is no sin, it's not getting back up that's the sin

03-24-2009, 12:07 PM	#293
lookout123 changed his status to single Join Date: Apr 2004 Location: Right behind you. No, the other side. Posts: 10,308	It depends on what amount they're investing. 10% of their net worth? too much. 1% of their networth? no problem. __________________ Getting knocked down is no sin, it's not getting back up that's the sin

03-24-2009, 12:14 PM	#294
TheMercenary “Hypocrisy: prejudice with a halo” Join Date: Mar 2007 Location: Savannah, Georgia Posts: 21,393	Good point. I don't know what their details are. I just sounded risky because of the number of banks being taken over by the feds. __________________ Anyone but the this most fuked up President in History in 2012!

03-24-2009, 12:19 PM	#295
lookout123 changed his status to single Join Date: Apr 2004 Location: Right behind you. No, the other side. Posts: 10,308	Nobody knows where it will end but technically the feds aren't taking them over, they're buying shares. Hopefully they will sell the shares in the future and allow share price to move entirely with the demands of the market. Sometimes those flyers pay off. __________________ Getting knocked down is no sin, it's not getting back up that's the sin

03-24-2009, 12:39 PM	#298
lookout123 changed his status to single Join Date: Apr 2004 Location: Right behind you. No, the other side. Posts: 10,308	many of the assets are probably foreclosed homes. those have outstanding debt showing in the liability column which isn't shown there. __________________ Getting knocked down is no sin, it's not getting back up that's the sin

03-24-2009, 12:42 PM	#299
TheMercenary “Hypocrisy: prejudice with a halo” Join Date: Mar 2007 Location: Savannah, Georgia Posts: 21,393	Well there are a bunch of links to this bank news, I didn't go through more than a few. I posted it as an example of, I believe, the third bank in GA to be taken over. __________________ Anyone but the this most fuked up President in History in 2012!

03-24-2009, 12:45 PM	#300
lookout123 changed his status to single Join Date: Apr 2004 Location: Right behind you. No, the other side. Posts: 10,308	normally banks pulled in by FDIC are sold off to bigger better banks, but I think we'll have to wait for the dust to settle before that happens. __________________ Getting knocked down is no sin, it's not getting back up that's the sin

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