AIG

[classicman]

Originally Posted by sugarpop

EVERY MORTGAGE IN AMERICA could have been paid off with a cool 12.3 TRILLION dollars. 12.3 TRILLION . And now we've spent, what, a couple of trillion?

Fixed that for ya.

I heard/read a similar story about it.

[lookout123]

well there's government efficiency for you.

[classicman]

They went on to talk about how that would actually be a bad thing because...

I missed the end of the piece. Then I didn't hear about it again. I really don't understand the negative implications of having these mortgages paid off.

[lookout123]

inevitable inflation because all the money currently going mortgages will be freed up.

[Queen of the Ryche]

Originally Posted by lookout123

All theory is idealistic in that all theories work exceptionally well. The problem is that you have to plug people into the theory to see what will happen. True communism won't work because people, in general, will not put the needs of the many above their own personal needs/wants for long.

True capitalism doesn't work because there must be very real rules in place to keep the unscrupulous from raping society.

Lookout, will you marry me?

Agree with your advisor arguments too, being in the biz. They are being paid to do their job. Sure, some are in it for greed, and some actually do care about their client's financial well being, but either way, they cooked your burger for you, so you need to pay them, even if the waiter sucked.

[TheMercenary]

Before the Fall, AIG Payouts Went to Washington
Published by Massie Ritsch on March 16, 2009 11:16 AM | Permalink | Comments (5)
As long as everyone's talking today about AIG's payouts to its executives and foreign banks, let's remember the payouts AIG has made over the years to politicians. In the last 20 years American International Group (AIG) has contributed more than $9 million to federal candidates and parties through PAC and individual contributions. That's enough to rank AIG on OpenSecrets.org's Heavy Hitters list, which profiles the top 100 contributors of all time.

Over time, AIG hasn't shown an especially partisan streak, splitting evenly the $9.3 million it has contributed since 1989. In the last election cycle, though, 68 percent of contributions associated with the company went to Democrats. Two senators who chair committees charged with overseeing AIG and the insurance industry, Sen. Chris Dodd (D-Conn.) and Sen. Max Baucus (D-Mont.), are among the top recipients of AIG contributions. Baucus chairs the Senate Finance Committee and has collected more money from AIG in his congressional career than from any other company--$91,000. And with more than $280,000, AIG has been the fourth largest contributor to Dodd, who chairs the Senate's banking committee. President Obama and his rival in last year's election, Sen. John McCain (R-Ariz.), are also high on the list of top recipients.

AIG has been a personal investment for lawmakers, too. Twenty-eight current members of Congress reported owning stock in AIG in 2007, worth between $2.5 million and $3.3 million. Sen. John Kerry (D-Mass.), one of the richest members of Congress, was by far the biggest investor in AIG, with stock valued around $2 million.

Last year AIG and its subsidiaries spent about $9.7 million on federal lobbying, or about $53,000 for every day Congress was in session in 2008. The company's spending on advocacy last year was down from an all-time high of $11.4 million spent on lobbying in 2007.

http://www.opensecrets.org/news/2009...ayouts-we.html

[classicman]

worth between $2.5 million and $3.3 million.

So whats that worth now - a buck three eighty?

[TGRR]

Originally Posted by lookout123

well there's government efficiency for you.

Who the hell wants an efficient government? Efficient governments are always, without exception, monstrosities.

[sugarpop]

Originally Posted by classicman

Fixed that for ya.

I heard/read a similar story about it.

That is not what Joe Scarborough said. He said Billion, not Trillion. As I said, I have no idea where he got the information or whether it was accurate. I was simply repeating what he said.

[classicman]

Originally Posted by sugarpop

That is not what Joe Scarborough said.

I know - he was WRONG - The correct answer was TRILLION

[sugarpop]

Oh OK then. I guess we ARE doing it the cheaper way. I thought it sounded suspiciously low, but when talking in numbers that big, I find it hard to wrap my brain around them, unless it's about science. So really, I had no idea if it was accurate.

How much would it have cost to just give every adult citizen $50k?

[xoxoxoBruce]

Dear Mr. President,
Subject: Patriotic retirement:

There's about 40 million people over 50 in the work force;
I suggest you pay them $1 million apiece severance, with three stipulations:

1) They retire from their jobs. Forty million job openings - Unemployment fixed.

2) They buy NEW American cars. Forty million cars ordered - Auto Industry fixed.

3) They either buy a house or pay off their mortgage- Housing Crisis fixed.

All National financial problems fixed!!!

[Queen of the Ryche]

4) Buy plane fare to send the Illegal immigrants home - 20 million more jobs available!

[piercehawkeye45]

Originally Posted by Queen of the Ryche

4) Buy plane fare to send the Illegal immigrants home - 20 million more jobs available!

For one week...

[lookout123]

Unless we give them each a raffle ticket when they're caught. We'll pick one each week who gets to become a legal citizen and we'll pick 2500 who are executed... it could work.