Byrdie714

Where the h*** are we getting this kind of money?!

Government announces $85 billion loan to save AIG - Yahoo! News

Deafness

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Banjo

The government need to stop trying to save everything.

lumbingmi

That is a lot man. Hope it doesn't force us taxpayers to pay more in the future.

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shel90

Just saw it on the news...they are saying because of this, some things we are used to getting for free may not be free anymore. *sighs* No details were given to clarify this statement but it is already making me a little more stressed. How much more beating our banks can we take before we are all seriously broke?

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Shel~

"A child educated only at school is an uneducated child." -George Santayana

deafdyke

I KNOW! EVERYTHING's melting down. What next? are we going to be in a giant Great Depression?

web730

Yeah, it's very absurd and unfair to the American taxpayers that is you and I!

Those greedy companies care none for the USA but themselves using tax money to rescue themselves out of their mega sinking holes.

I agree with you, Banjo that our government ought to stop. We are already too deep with the national debts!

Shame 'em big time!

Foxrac

AIG need go out of business, end of story!!!

Government SHOULD be not involve with big companies, they need fix on their own, that's part of life.

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Wokamuka

Here we go again:

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Deaf Mortgage

Apparently FDIC regulation that Government set is causing the problem. Everyone is insured up to $100,000 under FDIC.

AIG is a bank using FDIC insurance, then government need to take over to clean up as return money to all customers. MAX $100,000 per client if they had that much.

I heard one deaf club in Nevada had invested $280,000 in local bank for higher interest rate, but it shut down bank. So they only got $100,000 out of what they left in bank. OUCH.

I do wish Government do not take over companies... Unless they break up the company and sell each section to other private company such as Bank of America or any investors can afford it.

Deaf Mortgage

Good Post!

Beowulf

Trillions of dollars involved here and it has been going on for a suspiciously long time. Are our banks going to be nationalized? Phooey.

Jiro

Thanks for bringing that up. That means.... if I ever get more than $100,000... I should spread it around to different banks!

Banjo

Let them fallllllllllllllll.......

Having the government stepping in to bail out everybody will only prolong the pain. Banks, mortgage firms, insurance firms, corporations and many more will be falling within a year.

Quite a lot already did in the last few months and more will follow.

It's going to get worse before it will get better. The key is to stop letting the government interfering with it.

Jiro

sometimes intervention is necessary to prevent the country from going into another Great Depression. If Fannie, Freddie, AIG, and the Big 3 fall..... I don't want to even think about the consequence

Beowulf

Golly gee, Banjo, what happened to you? Of course the gummint planned all dis, lol.

Banjo

You can keep patching a quilt, but it's not going to stop it from falling apart. So therefore, you have to keep patching and it'll end up looking ugly.

That's the big picture I'm seeing here.

The government has to stop bailing everybody out because it's not going to make it any better.

Jiro

maybe. maybe not. btw - good analogy with quilt. but.... which one is preferable? let them fall now thus get us into another great depression or.... keep patching it up and hope for best that next administration will fix the mess?

Banjo

It's not easy, I know. It's like swallowing a brick. The worst has yet to come, I think it's inevitable. Not only that, Dow plunged big time recently. I believe the worst in more than 7 years. Today, it already has plunged more than 300 points alone and it's barely 1 o'clock! This is not good news... at all.

I shudder to think what will be in the store for us in the next few months.

Jiro

I guess it's time we stock up gas, food, and money, eh? oh also buy a gun

Tousi

A little off topic here: If someone has over 100K, isn't it possible to just establish a second account at the same bank?

Jiro

definitely not off-topic at all. a very good question.. DM - can you answer this for us?

Liza

Talk about putting band aids on a dam that's in danger of bursting open

Banjo

Another good one.

Tousi

Liza! Let's see your thumb!

Deaf Mortgage

No... must different bank.

If your total assets in one bank such account like Checking, Saving, Investment, CD's are exceeding $100,000, then you are only insured up to $100,000 as total asset, not individual accounts.

If it was individual, everyone will do the same thing and create 2nd account and 3rd account. That will wipe out Government money completely. So its limited to one account as total assets.

Jiro

ok so..... one account (as total assets) PER person or PER bank?

dead money

theyre starting to fall like dominos. DEFINATLY not good.

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mike matusow...or god for short.

Deaf Mortgage

total asset per bank.

web730

Yes, correct! I subscribe "Keep Your Assets" and they said the same thing as a best way to protect your assets that way. Also a financial expert on a tv show mentioned the same, too.

One full account (up to $100k) per bank, period! The lesser thus spreading to different banks, the better.

jillio

And the consequence is, the taxpayers end up paying to get their money back under the government bailout. Having to buy back what is already theirs.