Are the Republicans spearheading National Health insurance?

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Are the Republicans spearheading National Health insura... - 9/19/2008 6:00:48 PM

NumberSix

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It would seem so, we now own the largest insurer on the globe.

6

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RE: Are the Republicans spearheading National Health in... - 9/19/2008 6:04:05 PM

caitlyn

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Laugh or cry at this post ... you have your choice.

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RE: Are the Republicans spearheading National Health in... - 9/19/2008 6:11:46 PM

Raechard

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What does this do for the national debt I get so confused how this money gets moved about so much that it all counts for nothing in the end. Just like reinsurance confuses me, where does this money come from I need to know so that I can cut out the middle man and get paid directly without having to work.

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RE: Are the Republicans spearheading National Health in... - 9/19/2008 6:12:30 PM

corysub

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It's a great deal for taxpayers. The taxpayers own 80% of a fantastic global enterprise. In a thecouple of years the country will benefit greatly from this investment. On the other hand, there would have been a financial panic if AIG had been forced into liquidation. Sure there are bad loans on the books...but there is a lot of good stuff too that would have been put on the market at forced sales under duress. At least now we, as stockholders, have an opportunity to work out of problem assets and liquidate important parts of the portfolio.

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RE: Are the Republicans spearheading National Health in... - 9/19/2008 8:39:50 PM

DomKen

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Despite what cory is claiming this isn't a rosy scenario. AIG is not just going to be left intact with the feds owning an 80% interest. What's going to be done is the company is going to be broken up and sold off.

We're on the hook for 80 billion and if the solvent parts don't sell for at least that much we'll be out the difference. Considering these financial instruments and businesses will be up for sale along with the ones from Lehman and Barclay and whoever else fails it will be a real buyers market for the foreseeable future so it will be very difficult to get that investment back especially as the potential buyers will know the sellers position and needs in high detail.

Hopefully we won't lose too much but I expect this to be a net loss of about 10 billion.

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RE: Are the Republicans spearheading National Health in... - 9/19/2008 11:07:50 PM

Vendaval

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What a fucking mess!

quote:

ORIGINAL: DomKen
Hopefully we won't lose too much but I expect this to be a net loss of about 10 billion.

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RE: Are the Republicans spearheading National Health in... - 9/19/2008 11:43:57 PM

DomKen

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Your ire should be directed at two places. First is the politicians who pushed deregulation of the financial industry and lending rules specifically. Second is the sub prime mortgage industry that took advantage of deregulation and lax oversight to make billions in bad loans while making lots of money for themselves before the real estate bubble burst.

Unless some things change, like which party is in the White House, this will likely turn out just like the S&L crisis in that the real culprits will keep virtually every dime they looted from the rest of us while the US taxpayer and thedirectly affected people will receive little if any recompense.

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RE: Are the Republicans spearheading National Health in... - 9/20/2008 12:26:40 AM

Vendaval

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Oh hellyeah. I have been comparing this mess to the S&L crisis for a while. A quick bit of info from Wikipedia cause it is late and I am getting tired.

"The savings and loan crisis of the 1980s and 1990s (commonly referred to as the S&L crisis) was the failure of 747 savings and loan associations (S&Ls) in the United States. The ultimate cost of the crisis is estimated to have totaled around USD$160.1 billion, about $124.6 billion of which was directly paid for by the U.S. government—that is, the U.S. taxpayer, either directly or through charges on their savings and loan accounts[1]—which contributed to the large budget deficits of the early 1990s."

http://en.wikipedia.org/wiki/Savings_and_loan_crisis

quote:

ORIGINAL: DomKen
Unless some things change, like which party is in the White House, this will likely turn out just like the S&L crisis in that the real culprits will keep virtually every dime they looted from the rest of us while the US taxpayer and thedirectly affected people will receive little if any recompense.

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RE: Are the Republicans spearheading National Health in... - 9/20/2008 4:07:08 AM

hoodie

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quote:

ORIGINAL: corysub

It's a great deal for taxpayers. The taxpayers own 80% of a fantastic global enterprise. In a thecouple of years the country will benefit greatly from this investment. On the other hand, there would have been a financial panic if AIG had been forced into liquidation. Sure there are bad loans on the books...but there is a lot of good stuff too that would have been put on the market at forced sales under duress. At least now we, as stockholders, have an opportunity to work out of problem assets and liquidate important parts of the portfolio.

Hmmm since AIG has handled my car insurance for the last several years, does that mean that since I am a taxpayer, I get it for free?

Nahh..just kidding. They've been great. I haven't had to call on them for anything, except to fix a dent in the back of my car caused by an errant baseball.

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