Is anyone else pissed off that we the tax payers in the US is bailing out these idiot private company one after another. What is wrong with our government using tax payers money to bail out private industries. Are we a democracy or is this communism. I say if these company cant survive, let them fail. Why are we spending billions of our tax dollars to save a few thousand people's jobs. 164 million dollar spend on bonuses for executives. YOU GOT TO BE KIDDING ME AMERICA
lol what pisses me off is society's mutual idea of "let them fail". In Canada, Chrysler is threatening us to pull out of Canada, if they don't get aid from our government. I hear people go "let them fail". The only question I'm gonna ask is, "what the fuck?" I agree that bailing them out when it is their mistake is unacceptable, but think of the future consequence. Honestly, instead of thinking about yourself, and your hard earned money, think about the fact that if you let the company fail, jobs will be lost, economy is going to be in worse shape, and it's all due to the idea of "let them fail". By letting them fail, you kill the rest of us, including yourself. Think for a moment. In the case of AIG, instead of letting them fail, which does not benefit us at all, aside from destroying us, think of ways to deal with the problem. Find ways of taking the money back. Replace the CEO. BE FUCKING PRODUCTIVE. Honestly, I think people with the "let them fail" ideology think only about their own ass. I'm sorry, this is not meant to attack you, but to address all the people with that ideology.
Canada should let Chrysler fail, they make crappy cars, you dont see toyota or honda asking for a bail out. That is why we have competition. If what you sell isnt good enough, you should fail. There are other insurance company out there that are surviving. Maybe if these huge companies like AIG better manage their money. like not extravagant unnecessary business expenses, such as perks and chauffers for their execs, or private jets or first class travel or first class hotels or business meetings in Bermuda maybe they would not be in the predicament that they are in now. It is not a matter of me me me. DO the right thing. stop wasting company money and produce. not spend because the stock holders or the public will help us out. Look at AIG the first bail out was not enough, now they want more. once they get the attitude that big brother will help why should they try. you dont think they still let their execs travel first class or stay at fancy hotel on the us taxpayers money. you better believe they still do. that kind of extravagant has to stop. your company is failing, time to tighten the belt and smarten up AIG, Chrysler, gmc ... etc In Canada, Chrysler is threatening us to pull out of Canada, if they don't get aid from our government. I hear people go "let them fail". The only question I'm gonna ask is, "what the fuck?" I agree that bailing them out when it is their mistake is unacceptable, but think of the future consequence. Honestly, instead of thinking about yourself, and your hard earned money, think about the fact that if you let the company fail, jobs will be lost, economy is going to be in worse shape, and it's all due to the idea of "let them fail". By letting them fail, you kill the rest of us, including yourself. Think for a moment. In the case of AIG, instead of letting them fail, which does not benefit us at all, aside from destroying us, think of ways to deal with the problem. Find ways of taking the money back. Replace the CEO. BE FUCKING PRODUCTIVE. Honestly, I think people with the "let them fail" ideology think only about their own ass. I'm sorry, this is not meant to attack you, but to address all the people with that ideology.[/QUOTE]
Bailout: Taking a trillion dollars from the people and giving it to the banks to loan back to the people with interest and tax. But only after using hundreds of millions of those dollars to afford bonuses in order to reward the talented management that kept said banks functional. I love how outraged everyone in the US is getting about AIG. On one hand you have all these people ranting about ridiculous bonuses, but on the other it seems the entire population of the US is fairly apathetic about the government giving out a trillion dollars of cash it doesn't actually have. A trillion dollars is enough to buy a small country, or to nationalize a big one. In my opinion America is in a hole which various financial institutions dug together without thinking about the future. Between the use of the gaussian copula function that investors were manipulating to get rich, credit default swaps and subprime mortgage lending, banks were digging themselves deeper and deeper and not thinking about the future. Eventually they found out they were stuck, the markets crashed and they cried to the government for help. Instead of handing them a rope and making sure they changed their ways, the US government tossed them a bigger shovel and basically said, 'dig yourself out'
Personally, what I would love to see are jail sentences. The idea of larceny versus grand larceny and the difference in punishment is a concept that we can all readily understand. Hence, the degree of punishment being predicated on the amount of financial damage someone is responsible for seems just to me. If someone destroys a million dollars then that should be worth at least life in prison. Take about four or five thousand of these high earning Wall Street execs and throw them in jail for life sentences, and I bet the careless attitudes would do a 180 in the blink of an eye. The threat of prison always seems to sharpen an executive's focus. -rockon I also understand the anger, but letting AIG fail is probably even more dangerous...
first bold: you speak of competition, if competitors keep failing, we will soon end up with a monopoly, which will fuck us over anyways. you have two groups of kids playing dodgeball. you as a group counselor, will help out the losing group. that way, there is competition. without you jumping in, the losing group will lose harder, the winning group will become a monopoly. second bold: i agree that companies should reduce their royalty living. but let me ask you this, why should workers lose their jobs over executive mistakes? instead of letting the whole company fail, which would cost workers jobs, do a management restructuring. since you want to let companies whose executives live a royalty lifestyle, why don't you let every single company in existence fail? every company has the same problem. that's why companies require management restructuring every few years. workers should not lose their jobs over this. regulations must be placed so that these executives pay for their mistakes, NOT BY FAILING THE WHOLE FUCKING COMPANY. anyways, i'm sick people's idea that because a company's executive live a king's lifestyle, and that the company is failing due to it, that workers have to lose their jobs over it. this will lead to a worse economy. the way to go is RESTRUCTURE THE MANAGEMENT, NOT FAIL THE COMPANY. go learn some economics and management.
At first I thought about the trouble AIG, Chrysler, etc (and many other unnamed companies) should go and fail if they really can't help themselves. But I guess that way of thinking is derived from my limited knowledge for economics, being the science nerd i am lol. The commerce people on this forum have a point there, failing the whole company will likely do more damage, than if some sort of internal change happened.
I agree with your assessment and understand the principles behind it; that there is generally little causality between the extravagance of an executive and the performance of any company. Anecdotally, it seems to me at least, that most companies fail (or are brought to a point where they can no longer conduct their usual business) because of poor management or lack of foresight in their decision making process. Whether the executives live beyond tasteful excess is moot. On the other hand, one has to appreciate the public anger over this, and how it can build to such a hue and cry that the baby gets tossed with the bath so to speak. There is tremendous public sentiment and desire for punishment, either dissolution of entire businesses or jail terms (my choice). This anger can easily be mischanneled into a witch hunt, and in line with a rioting mob's random justice, nothing is spared. Like you alluded to, we have to be cool headed about this or risk damaging the economy further. I agree that companies need to restructure management, however first and foremost in that endeavor would be to include a system of oversight. It's simply amazing to me that a company whose bread and butter is in managing risks, cannot even manage its own. :nuts:
people shouldn't ask if companies deserve the bailout or not; and instead think economically if there is a need for it. do I agree with the government bailouts? i really don't know lol.
I just think that they shouldn't be getting huge sums of year end bonuses! It's like placing the tax players money directly into the hands of those greedy bastards!
Some structural important companies in a country may not fail otherwise the consequents are severe and a real threat to the country. In US, Freddy Mac and Fanny May are samples of these structural important companies. AIG may be another.
i'm not even in commerce lol pretty much common sense to me -cool2 yes, perhaps you are right. public outcry would hopefully lead to some butts in jail. but after that's done, it's time to restructure. any other way than letting companies fail is more productive.
Latest update on AIG bonuses; they should have made it a 110% tax, then it would have been more costly to accept the bonus, LOL... In a rush? For a quick synopsis, just read the red highlighted lines. Despite the fact that I hate taxes as much as anyone else, I find a tremendous amount of emotional satisfaction and delicious irony in this. They all got their bonuses, but then had to hand it right over to Uncle Sam. :laugh: :laugh: :laugh:
lol actually from what i heard today there was a clause in the original bill which assured they would keep their bonuses, but after all this outrage the government is clamping down. seems very hypocritical, but w/e, politicians capitalize on everything they can.
short answer : AIG got branches world wide, if they collapse it won't be just the american economy, imagine mcdonalds going out of business
you better believe it america and the whole world. AIG did already fail. their scam to steal money from us tax payers is exactly that, a scam. watch how soon they claim they can no longer stay afloat.
