Government response reaches dramatic new level: U.S. will take 80% stake in nation's largest insurer to prevent global financial chaos.
http://money.cnn.com/2008/09/16/news/companies/AIG/?postversion=2008091710I'm not a high finance type guy, so I wouldn't pretend to know about these kinds of things, but even an idiot like me is getting a little worried. Our government is now financing 80% of a privately owned company, the nation's largest insurer, correct? And this is in addition to the previously announced bailouts, correct?
Just so you know, OrbsCorbs Inc. has suffered tremendous losses in the recent economic turmoil and is in great danger of collapsing, which would send ripples of uncertainty throughout the blogging community. How do I go about applying for one of these federal bailouts?
And where's my FEMA trailer?
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6 comments:
Yeah, Orbs. The JT Irregulars blog is "too big to fail" so we all need a good bailout here.
It has gotten so bad that Republicans at a John McCain campaign event in Tampa cheer for more government regulation which kind of flies in the face of, like, much of his career in the Senate.
HAHA You remind me of that movie'The Mouse that Roared"! Wonder if that would work now.
I understand why they did it. Probably is the right choice. With the full realization that you can't legislate stupidity, this bailout needs to be followed up with a real review of banking regulations.
The whole thing makes me sick.
I apply for a home loan and am deigned because of med. bills.
So I'll rent...........
Applied for a FEMA loan to replace all of the winter clothes that I had stored in the basement that where all lost in our June flood......I was deigned..........winter clothes are not a necessity I was told..............OK so I ask the girl denying me if she has ever lived in Wisconsin through one of our winters? Not a necessity! Come winter I'll be about $500.00 in the hole again because kids need winter coats, snow pants, boots, long johns, scarf's, hats, mittens and sweaters..
I wasn't asking for a hand out like the people in Mil. Signing up for $450.00 worth of food vouchers (who didn't even have damage just wanted a hand out) but a LOAN I would have paid back.
Thanks for letting me vent……
No government will be in to save you ORB……..so sorry to tell ya…..WE"RE on our own.
What is the saying? Insanity is repeating the same thing over and over, expecting to get different results.
Ok, I'm going political, can't help myself; oh, please forgive me....
How can you keep voting for the same party that endorses the same policies and spending habits which are putting our country's finances into this mess, and then expect things to get better? The housing crisis, the gas prices, the rising inflation and subsequent recession, out of control spending on a war that experts say we are incapable of winning...Where is this change that has been promised? Out of McCain's mouth..He "voted and supported Bush's policies more than any other representative."
And don't attack Obama as a retort. That is just a lame counter. I know him and Biden aren't our saviors either. There NEVER is a perfect candidate.
KK, I'm an equal opportunity complainer. The reality is that between the do nothing bickering congress, an inept executive branch, and a wholly indescribable judiciary, we are in a real mess.
A fundamental change in philosophy needs to take place. Historically, that has only happened during wars (such as WWII or the Civil war), or the introduction of a new political party. Democrats and Republican ideology has become stale and certainly does not address the problems we have today.
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