AIG $170 Bil. Bailout - How long will it take to pay it back?
AIG's best year I believe was 2003 when they pulled in $5.5 billion in profit.
Assuming that they are able to return to that level of profitability even if they gave the government back 100% of their profit each year we're looking at thirty plus years aren't we?
However the real problem is that the business model that AIG was making all that money from no longer exists right? ...and they are selling off divisions on top of that.
The taxpayers are never going to see that money repaid.
We are bailing out banks with economic terrorist CEO's running them.
Trillions of dollars before it's all over with and I don't believe that America can't print enough money to bail out the entire world.. and if they do, the problem at that point will be a confidence and social problem not so much an economic one.
Protecting the oligarchs at all cost seems to be the current plan.
one other point about your comment on how long will it take to repay . Don't forget that with all of those losses carrying forward, some of these banks and such won't be paying taxes for a decade or more... the banking system is not going to lose .. what basically is going on in DC , currently, is jockeying for position to reap the greatest returns from crawling out of this mess. the solutions are not rocket science, but trying get some share of the cake is akin to 3 brothers trying to play a game ... later .. garce
seems like Washington is playing that how much wood could a woodchuck chuck ... but doing it with the economy ... they don't know, but they are trying to find out by doing ..... actually, what appears to be unfolding is the typical DC freeze and as we all know, a Congress that does nothing is the best, as whenever they DO something it's not all that good .... garce
Uproot the lavished Ceo, Cfo n Ccos and reboot the whole system. You don’t have to be an economic genius to figure this one out people. Big banks and insurance companies are failing due to their own greed and unregulated oversite by our own government.
It doesn't help to outsource all of our jobs either. & Free trade is great for the people who don't have to follow rules. They win everytime. They are turning the US to sh!t!, for higher profit margins at the top. We need to dump the lobbyists, it's effecting the descision process in Washington. Both parties are on the take!
Take corporate sponsors out of our politcs. All I'm seeing, is rich people lining each others pockets. We the people don't have the bribe $
I've got a better stimulus. Take back the $ from AIG & give it to the people. Anybody who handed out/or received millions in bonuses at taxpayer's expenses(during a crises)should be shot or imprisoned! Aig is the worst example of management abuse in history! Since they have full time lobbyists lining pockets in Washington, it is very import that the tax payers continue to hand them billions. The waiting line for "new" luxury yaughts is now 4 years. Aig management still has to wait in line with the bank & housing execs. They accepted short term profits knowing it would lead to a adverse effect. I vote for public hangings. Take back the money & distribute it amongst the tax payers. That would spark the economy directly. If we took the $ we gave AIG alone & divided amongst the people (instead of CEO's & exec pigs) We'd see millions of common people buying cars & houses. These elitists & their government are keeping everything to themselves. They believe in the trickle down effect. If you hand them millions & billions, they will eventually be nice enough to bring our jobs back & give us loans.