RE: "We are to big to fail"

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RE: "We are to big to fail" - 3/2/2009 4:49:57 PM

Owner59

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quote:

When Trump went belly up,he fortunately had borrowed so much money,that his leanders"couldn`t let him fail".Though he should have been left to go bankrupt,he was "to big" to let fail.The rascal.

This is exactly why CityBank must be broken up,along with any other outfit that grows so big,that failure means a nationwide recession or a credit freeze.

No one company or group should be allowed to hold so much concentrated power,influence and sway over our entire nation`s economy.

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RE: "We are to big to fail" - 3/2/2009 5:05:20 PM

FullfigRIMAAM1

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It's comforting to know that at least you're consistent about your hypocrisy. M

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RE: "We are to big to fail" - 3/2/2009 6:43:48 PM

awmslave

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Federal Law § 1831o
(http://www.law.cornell.edu/uscode/html/uscode12/usc_sec_12_00001831---o000-.html)
is very specific what actions should be taken if financial institution becomes critically undercapitalized. The government bailout as planned would be ignoring the law.

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RE: "We are to big to fail" - 3/2/2009 8:29:21 PM

Nosathro

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And now, the ex CEO, one of those responsible for all this now claims AIG cheated him??!!!

http://news.yahoo.com/s/ap/20090303/ap_on_bi_ge/aig_greenberg

PS As of now the government owns 80% of AIG.

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RE: "We are to big to fail" - 3/2/2009 9:21:15 PM

FullfigRIMAAM1

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I was wondering what your post has to do with AIG or anything I said.

Anyway, having had siblings unable to afford college because the costs are umbearable to the non rich, I cannot even relate to the place from where you come with this argument.
I know that laws are made for a reason, and bureocracies are created to avoid baseline dangers/damages, but I tend to rely on common sense, and reality of situations, especially as they are being experienced by the masses here and now in the united states. M

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RE: "We are to big to fail" - 3/2/2009 9:38:37 PM

corysub

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quote:

ORIGINAL: SpinnerofTales

quote:

I would not feel the same way about GM...GE..or any other "General".

quote:

ORIGINAL: corysub

Cory....I would think you would at least see that we need to keep an American automotive industry alive for military reasons if nothing else. Oh sure, we could buy a Toyota tank. It would get 43mpg...but you could blow it up with a bb gun.

Face it, folks, as much as we would all like to, letting the automakers go out of business would be a bad idea.

Chapter 11 Bankruptcy does not mean that all the doors to the plants will be locked up and the machinery and fixtures put up for auction. It will, however, give the company an opportunity to recast debt, renegotiate contracts from expensive leases, to union contracts that are double the market rate for labor in similiar jobs, restructure the balance sheet (which would probably wipe out the current shareholder list but they have essentially been wiped out already. A more lean, financially improved company could emerge that would be more competitive and viable. The way we keep throwing money at them now is like trying to bail out the Titanic with a china cup from first class. Would love to hear a better idea..I think all of us understand the strategic importance of the auto industry.

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RE: "We are to big to fail" - 3/2/2009 10:08:49 PM

UncleNasty

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"Too big to fail means too big to exist."

I found that quote a couple of weeks ago. Can't remember the source.

Uncle Nasty

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RE: "We are to big to fail" - 3/3/2009 11:10:54 AM

Sir Daddy

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Ya' know, once upon a time, there were regulations set in place that precluded the possibility of any company becoming so large that it was "too big to fail". The reasoning was simple. A company so large that our entire nation's economy depends on it's success represents a clear and present danger to the national security of the United States.

Thank Reagan's wholesale deregulation policies for the AIG mess. If it weren't for him, it wouldn't have been possible....no matter how poorly the company was run.

I say let AIG fail. It'll hurt. It'll hurt bad. And I think that's exactly this country needs. How else are morons to learn the lesson?

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RE: "We are to big to fail" - 3/3/2009 11:46:01 AM

cjan

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No need to let AIG or other corporate entities that are "too big to fail" do so. Temporarily nationalize them, sort the good from bad assests, sell of the bad assets at a discount to investors ( yes, they do buy them and make a profit as Japan's and Sweden's experience has shown ) and, finally, break them up into entities that are not "too big to fail" and thus, do not present a clear and present danger to the global economy.

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