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American International Group, Inc. Message Board

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  • rennatus rennatus Sep 18, 2008 4:27 PM Flag

    absolute Bull$hit

    BFD, my "F*CKING TAX DOLLARS" have been going to deadbeat welfare cheats for 30 years and I blame the democrats.

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    • i would rather my tax dollars help out a company that was in danger of laying off 100,000 people than some illegal immigrants and welfare cheats.

      Its a loan that has a big interest payback to the government so they make alot on the deal. Its not a bailout. Learn how to read

      • 3 Replies to joecali11
      • You frigging racist, classist douches have no problem with welfare for the rich. The largest being the tax write-off for mortgage interest. According to the Cato institute, see cite below, estimated that in 2006 alone, the USG gave $92B in corporate welfare. AIG may eclipse that on its own. Actual welfare for actual poor? About $10B.

        You guys are all about free markets and "pulling up by bootstraps" until something bad happens to you: then you whine and hold out your hat for the Government to save you, meanwhile using immigrants to make yourselves feel superior. Unless you are an American Indian, you're an immigrant too, champ. The hypocricy of this country astounds me: were the Founding Fathers aroung today, they'd want another revolution to topple the new King, giving tax monies to corporate cronies.

        "The federal government spent $92 billion in direct and indirect subsidies to businesses and private- sector corporate entities — expenditures commonly referred to as "corporate welfare" — in fiscal year 2006. The definition of business subsidies used in this report is broader than that used by the Department of Commerce's Bureau of Economic Analysis, which recently put the costs of direct business subsidies at $57 billion in 2005. For the purposes of this study, "corporate welfare" is defined as any federal spending program that provides payments or unique benefits and advantages to specific companies or industries.

        Supporters of corporate welfare programs often justify them as remedying some sort of market failure. Often the market failures on which the programs are predicated are either overblown or don't exist. Yet the federal government continues to subsidize some of the biggest companies in America. Boeing, Xerox, IBM, Motorola, Dow Chemical, General Electric, and others have received millions in taxpayer-funded benefits through programs like the Advanced Technology Program and the Export-Import Bank. In addition, the federal crop subsidy programs continue to fund the wealthiest farmers.

      • Will the high interest on that loan be distributed back to the taxpayers who loaned the money ? Hell No !!!

      • Yeah, as a AIG long I like the free government money, and I note with irony that the warrants are technically backed by derivatives (ELNs).

        Philosophically, BEFORE I invested in AIG, I would have liked to see them fail (moral hazard), but that's just me.

        AIG is worth $33 a share if the RTC goes through, but about $4 if not, I and others have calculated.


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