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Getting out of debt by going into more debt?
Posted on 9/18/08 at 4:35 pm
Posted on 9/18/08 at 4:35 pm
These fed bailouts, isn't it adding onto more debt? How could this be any good for our economy?
"Brokers borrow $121 Billion from the Fed"
Ridiculous.
"Brokers borrow $121 Billion from the Fed"
Ridiculous.
This post was edited on 9/18/08 at 4:36 pm
2
Posted on 9/18/08 at 5:15 pm to PurpleJersey
well, if the nations largest insurance provider didnt get this loan, they would go under rendering all of their policies worthless. The loss of jobs would be stunning when considering it's effects on other industries...
So basicly, what's the better alternative? Bombing our economy or bailing them out with a loan they should be able to pay back in 2 years?
So basicly, what's the better alternative? Bombing our economy or bailing them out with a loan they should be able to pay back in 2 years?
Posted on 9/18/08 at 5:16 pm to PurpleJersey
The AIG bridge loan has a high interest rate with huge equity kickesr. I think it's a good deal for us.
Posted on 9/18/08 at 5:22 pm to Tiger JJ
So this is like a payday loan, writ large.
Posted on 9/18/08 at 7:47 pm to Tiger JJ
quote:
The AIG bridge loan has a high interest rate with huge equity kickesr. I think it's a good deal for us.
I concur. And unfortunately we had to bail out Fannie and Freddie to avoid a systemic collapse of the international financial system. Bear Sterns also had so many complex derivatives entangled w/ the other financials that we had to bail them out as well. I can't imagine sorting through that mess w/ out a bail out.
but all these bail outs are a moral hazard!!! talk about a Catch-22
can you imagine the ripple effect not bailing AIG would have, financials around the world, particularly Europe, would have so many write downs in their books. market fundamentalism is as idealistic as communism....
This post was edited on 9/18/08 at 7:54 pm
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