Bailout of AIG
5 replies
gafinfanSupporterOPI just got this in an email and though its crazy to think about what do you guys give this plan?
What a novel idea...
I'm against the $85,000,000,000.00 bailout of AIG.
Instead, I'm in favor of giving $85,000,000,000 to America in
a We Deserve It Dividend.To make the math simple, let's assume there are 200,000,000
bonafide U.S. Citizens 18+.Our population is about 301,000,000 +/- counting every man, woman
and child. So 200,000,000 might be a fair stab at adults 18 and up..
So divide 200 million adults 18+ into $85 billon that equals
$425,000.00.My plan is to give $425,000 to every person 18+ as a
We Deserve It Dividend.Of course, it would NOT be tax free.
So let's assume a tax rate of 30%.
Every individual 18+ has to pay $127,500.00 in taxes.
That sends $25,500,000,000 right back to Uncle Sam.
But it means that every adult 18+ has $297,500.00 in their pocket.
A husband and wife has $595,000.00.
What would you do with $297,500.00 to $595,000.00 in your family?
Pay off your mortgage - housing crisis solved.
Repay college loans - what a great boost to new grads
Put away money for college - it'll be there
Save in a bank - create money to loan to entrepreneurs.
Buy a new car - create jobs
Invest in the market - capital drives growth
Pay for your parent's medical insurance - health care improves
Enable Deadbeat Dads to come clean - or else
Remember this is for every adult U S Citizen 18+ including the folks
who lost their jobs at Lehman Brothers and every other company
that is cutting back. And of course, for those serving in our Armed
Forces.
If we're going to re-distribute wealth let's really do it...instead of
trickling out
a puny $1000.00 ( "vote buy" ) economic incentive that is being proposed
by one of our candidates for President.
If we're going to do an $85 billion bailout, let's bail out every adult
U S Citizen 18+!
As for AIG - liquidate it.
Sell off its parts.
Let American General go back to being American General.
Sell off the real estate.
Let the private sector bargain hunters cut it up and clean it up.
Here's my rationale. We deserve it and AIG doesn't.
Sure it's a crazy idea that can "never work."
But can you imagine the Coast-To-Coast Block Party!
How do you spell Economic Boom?I trust my fellow adult Americans to know how to use the $85 Billion
We Deserve It Dividend more than I do the geniuses at AIG or in
Washington DC .
And remember, This plan only really costs $59.5 Billion because $25.5
Billion is returned
instantly in taxes to Uncle Sam.Ahhh...I feel so much better getting that off my chest.
Kindest personal regards,
Best thing I've ever heard of which of course means the feds will be against it. Sure would solve alot of social ills though.
This is the only thing I’ve learned: There’s only us. There’s no them. Despots and authoritarians need to make a “them” to have a straw man whom you are against. If you need to make an enemy of “them,” you’ve lost the spirit of us. - Ken Burns of PBS
padre31Luxury BoxProblem with that is AIG's default would mean that local bonds would become much more expensive to issue, no one else can cover them all, and they would have to offer higher interest rates to offer them to the public GA.
jdang307SupporterI know it's not to be taken seriously, but if the citizens were so great with their money they wouldn't need as much insurance that's out there causing aig to collapse :D
I can see lots of TVs, vacations, cars and such being purchased tho.
finswin56New MemberCan you say inflation?
Heritage of a Linebacker
Image by Like2God. Awesome job bro!
it's not really the insurance part of AIG's business that is hurting... Insurance is one of their cash cows... that and airline leasing. They actually are a conglomerate that involves in many aspects of many industries.
i'm against bailing out companies that screw up, but AIG didn't screw up. their usual lending lines have been shrunk or removed due to the credit crunch and capital running out from their lenders. AIG did nothing wrong, really.
you guys should keep this in perspective. when investment banks like lehman, bear, and others have screwed up by leveraging their balance sheets 40 to 1, THEY are the ones that have screwed everyone. AIG was just a legitimate victim due to no cash being left for their practicies. I am vehemently against bailing out the investment banks. let dead dogs lie.
AIG is such a big company that has worldwide reaches (in over 100 countries), that if we let it fail it would send our economy into a straight-up depression....and would probably send economies around the world in a serious recession. the company is THAT big. NO it wouldn't destroy economies, but it would be a serious disaster....
the other difference here is that the AIG bailout was a loan.... AIG was given time to sell off subsidiaries to pay off this loan. the loan is at a horrendous rate (something like 11% APR to the Fed).... so while the investment banks were getting free write-offs through acquisitions and bankruptcy filings, AIG is having to pay back our government at a very high rate... which means we'll get that $$ back (and make money).
in summary:
AIG bailout - necessary
Lehman, Bear, GS, Merrill bailouts - unnecessary and shouldn't happen
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FiN.in.RINew MemberLehman Brothers didn't get bailed out. The 100+ year old company was wiped out completely in Bankruptcy and the pieces left over were bought at 10 cents on the dollar, it's sharholders? wiped out. Same with Bear. Goldman Sachs ian't even close to being in the conversation. Merril Lynch, acquired by BoA, not bailed out (by the Government, although the gvmt gave BoA a nudge). AIG? Bailed out w/an 85 billion dollar loan (and was necessary for all our livelihood). Bailed out is becomming the chic and sexy term to use but it's not accurate. Most of these firms outright failed, many many jobs were and mucho dinero was lost.
As the crowd shook