While the clueless fret over Ann Coulter Cat Fight Part 1

edge540 · **Joined:** Thu Aug 07, 2008 2:42 pm **Posts:** 7910

Moby Grape wrote:

HEY EDGE!...GUESS HOW MUCH AIG ''donated'' in political contributions to Obama?

I dare ya!

if you have the balls...

Obama collected a total of $130,000 from AIG in 2008, while McCain accepted a total of $59,499.

mattlap · **Joined:** Fri Aug 15, 2008 7:24 am **Posts:** 2529

Moby Grape wrote:

if that's the case then it should be easy for you to explain (in very simple terms Bush could understand) why letting AIG fail would have meant utter devastation to the world's financial markets. It would have cost trillions more & the loss of many more millions in jobs. It would have been total carnage.

this should be good...

Real simple answer ... it would have caused a cascading reaction of bankruptcy after bankruptcy in every financial institution that bought insurance from AIG against default. What caused AIG to go was the fact that they did not have the ability to pay out on claims from Lehman Brothers failing. By the US Government allowing Lehman to fold, it caused a trigger in AIG and would have continued worldwide at breakneck speed. It would have reached a point where it broke the entire financial system.

Ultimately AIG committed insurance fraud and I do not have the faintest idea why nobody has been arrested on those charges thus far. They took payment for insurance but failed to hold the reserves necessary to pay out the claims.

It would have eventually trickled down to just about anyone that would be expecting an insurance settlement or pay out of any kind. Waiting for a life insurance settlement from your late grandmother? GONE! Waiting to have your burned down house replaced? GONE! Waiting to have your car fixed from being plowed into? GONE! Waiting for your annuity payment that you bought to pay your retirement? GONE!

AIG going away would have touched every country and eventually just about every citizen in the United States in one way or another .....

USMarine · **Joined:** Thu Aug 07, 2008 4:55 am **Posts:** 10483

And then bin Obama and his fellow scumbags got caught doing the BIG payoff.

Way too funny.... :smt005

Moby Grape · **Joined:** Sun Nov 12, 2006 12:19 pm **Posts:** 13802

mattlap wrote:

Real simple answer ... it would have caused a cascading reaction of bankruptcy after bankruptcy in every financial institution that bought insurance from AIG against default. What caused AIG to go was the fact that they did not have the ability to pay out on claims from Lehman Brothers failing. By the US Government allowing Lehman to fold, it caused a trigger in AIG and would have continued worldwide at breakneck speed. It would have reached a point where it broke the entire financial system.

Ultimately AIG committed insurance fraud and I do not have the faintest idea why nobody has been arrested on those charges thus far. They took payment for insurance but failed to hold the reserves necessary to pay out the claims.

It would have eventually trickled down to just about anyone that would be expecting an insurance settlement or pay out of any kind. Waiting for a life insurance settlement from your late grandmother? GONE! Waiting to have your burned down house replaced? GONE! Waiting to have your car fixed from being plowed into? GONE! Waiting for your annuity payment that you bought to pay your retirement? GONE!

AIG going away would have touched every country and eventually just about every citizen in the United States in one way or another .....

edge was supposed to answer the question......not you....

USMarine · **Joined:** Thu Aug 07, 2008 4:55 am **Posts:** 10483

mattlap wrote:

Real simple answer ... it would have caused a cascading reaction of bankruptcy after bankruptcy in every financial institution that bought insurance from AIG against default.

mattlap · **Joined:** Fri Aug 15, 2008 7:24 am **Posts:** 2529

USMarine wrote:

mattlap wrote:

Real simple answer ... it would have caused a cascading reaction of bankruptcy after bankruptcy in every financial institution that bought insurance from AIG against default.

Please show me where I am wrong ... AIG's main business that got them into trouble was selling insurance against default. They were unable to pay their obligations and would have defaulted in payments to banks, pension funds, insurance companies, as well as brokerage firms.

You don't have a clue what you are talking about ......

edge540 · **Joined:** Thu Aug 07, 2008 2:42 pm **Posts:** 7910

Way Too Funny...Crack Me Up

USMarine · **Joined:** Thu Aug 07, 2008 4:55 am **Posts:** 10483

Yeah OK.

Paying a company billions of dollars so they can meet their obligations and skim what they want off the top is REAL smart.

You're just peddling fear, Son.

You just make the tripe up as you go along.
There is NO company too big to fail.

Anything of value that AIG held should have beeen seized, the company doors closed, the executives arrested, their books seized, and then the U.S. Governmet could have made good on all AIG's claims and saved billions of dollars.

But thanks for thinking you know what the hell you're talking about.

It's very entertaining.

:smt005

edge540 · **Joined:** Thu Aug 07, 2008 2:42 pm **Posts:** 7910

matt, you're dealing with ignorant, simpleminded morons.
You're wasting your time.
Like I said before it's like arguing with 1st grader who insists there's a Santa, Easter Bunny & a Tooth Fairy.

Moby Grape · **Joined:** Sun Nov 12, 2006 12:19 pm **Posts:** 13802

edge540 wrote:

Santa, Easter Bunny & a Tooth Fairy.

You're the idiots who voted for Hope and Change right?

well you left out Barack Obama fromn your list.....wasn't he who was going to fill your gastanks and pay your mortgages?...

talk about f***in fairy tales...

USMarine · **Joined:** Thu Aug 07, 2008 4:55 am **Posts:** 10483

edge540 wrote:

samplmided morons

Said the little hedge..... :smt005

Stay in school, kids. Don't be a hedge.

mattlap · **Joined:** Fri Aug 15, 2008 7:24 am **Posts:** 2529

USMarine wrote:

Yeah OK.

Paying a company billions of dollars so they can meet their obligations and skim what they want off the top is REAL smart.

You're just peddling fear, Son.

You just make the tripe up as you go along.
There is NO company too big to fail.

Anything of value that AIG held should have beeen seized, the company doors closed, the executives arrested, their books seized, and then the U.S. Governmet could have made good on all AIG's claims and saved billions of dollars.

But thanks for thinking you know what the hell you're talking about.

It's very entertaining.

:smt005

Your right .. there is no company too big to fail. But that doesn't mean that even a mid size company can not bring the world financial markets to their knees.

Here is some VERY basic reading for you ......

http://www.nytimes.com/2008/09/16/opinion/16lewitt.html?_r=3&ref=opinion&oref=slogin&oref=slogin
[url]
http://www.thestreet.com/story/10437758 ... -hand.html[/url]

http://news.scotsman.com/world/AIG-collapse-too-awful-to.4503232.jp

The problem with letting AIG fail would be many of their assets that are valuable would be seized by the countries they are based in. Under the current plan they are being sold off to repay the bridge loans. And that process is being carried out as we speak. If you listened to CNBC today, the current CEO said that the process is well underway. IF we let it fail those assets would be worth zero and belong to some other country .....

mattlap · **Joined:** Fri Aug 15, 2008 7:24 am **Posts:** 2529

edge540 wrote:

Moby Grape wrote:

HEY EDGE!...GUESS HOW MUCH AIG ''donated'' in political contributions to Obama?

I dare ya!

if you have the balls...

Obama collected a total of $130,000 from AIG in 2008, while McCain accepted a total of $59,499.

Not to mention the money that AIG donated to McCain's Think Tank that he helped found ... at least $50K ....

http://www.thenation.com/doc/20081006/ames

USMarine · **Joined:** Thu Aug 07, 2008 4:55 am **Posts:** 10483

mattlap wrote:

Here is some VERY basic reading for you ......

Here is a VERY basic suggestion for you, Son.

:thebirdman:

AIG is NOT too big to fail.
They should have been encouraged to do so and then pick up the pieces afterwards.

Thanks for playing.

:smt005

mattlap · **Joined:** Fri Aug 15, 2008 7:24 am **Posts:** 2529

USMarine wrote:

:laughing3:

mattlap wrote:

Here is some VERY basic reading for you ......

Here is a VERY basic suggestion for you, Son.

:thebirdman:

Apparently I have to have even more BASIC reading for you ......

See Dick go broke ......
See Dick make Sally, Jane and Spot go broke ....
See Sally, Jane and Spot make EVERYONE go broke .....

You know ....there is help for those that don't have the ability to comprehend. Lashing out is a normal sign of frustration.

May I suggest .....
[url]
http://www.understandmore.com/i-adults.htm[/url]

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