TOO BIG TO FAIL

[James48843]

Great piece in the New Yorker today:

A Letter from AIG

Dear American Taxpayers:

In 2008, you paid for a bailout of A.I.G. totalling $182 billion. Today, we are writing to tell you that we’re thinking of suing you.

When we made this decision, we knew we were in for some rough treatment from the media. We’ve been called everything from soulless bloodsuckers to Satan’s scabrous handmaidens, and worse. At A.I.G., though, we have a different name for ourselves: true American heroes.

You see, by suing the same people who bailed out our asses just five years ago, we are standing up for one of the most precious American rights of all: the right to sue someone who has just saved your life.

Let’s say that you’re trapped in a burning building and a fireman pulls you out to safety. Once you’re out of the fire, though, you notice that the fireman carelessly ripped the lapel of your Armani jacket. Shouldn’t you be able to sue the fireman for the full cost of its replacement?

Or let’s say you’re drowning in the ocean. A lifeguard dives in, pulls you back onto the shore, and administers mouth-to-mouth resuscitation. Aren’t you entitled to take appropriate action—i.e., sue him for sexual harassment?


Read more: A Letter from A.I.G. : The New Yorker​

Read more: A Letter from A.I.G. : The New Yorker

 

[nnuut]

They should have had INSURANCE!:laugh:

 

[Show-me]

Should have let them all fail, now they want more...................

 

[nsurf9]

AIG and the banks - they should have charged them 29.9% interest, plus penality and late charges.

 

[nnuut]

AIG and the banks - they should have charged them 29.9% interest, plus penality and late charges.

This bank insured everything you can imagine. Loans, companies, indexes, parts of peoples bodies, and anything that they could make money and they didn't insure themselves?

 

[James48843]

Amazing.

Here we are, FIVE YEARS LATER, after everyone said banks were "too big to fail".

And everyone agreed that was bad. And everyone agreed we need to change that.

You would think we'd learn our lesson, and that good government would force these huge banks
to break apart and not be so hazardous to our economic health.

You'd think that, wouldn't you?

But Noooooooooooo.......

They are actually MUCH BIGGER TODAY than they were when they were TOO BIG TO FAIL!

Great story on NPR about the continuing case of "Too Big To Fail...."
http://www.npr.org/2013/03/19/174760691/odd-political-bedfellows-agree-banks-still-too-big-to-fail