Rankings   Forums   Features   Help    

buybackking's picture
AIG has to fail

I am embarrassed for the taxpayers to be forced to bailout this worthless company.   Go to yahoo and look what these executives make for pushing paper. Their website shows they do nothing vital to the USA.  Companies like these need to go bankrupt.  Even if they were profitable I am embarrassed they exist in the USA.  They don't make cars, they don't build roads, and they don't clean sewers.  They do nothing and are of no importance to me.  Just because someone wears a nice suit does not make them important.  So pissed that I seem to be the only one angry at this.  Why haven't Bernake and Paulson been fired already.  Or better yet, why hasn't the federal reserve been closed so we don't have to make interest payments or sell bonds or tbills anymore?  Why work?
By buybackking at 2008-11-10 15:25 | Stocks | buybackking's blog


Welcome in Wonderland


They will bail out AIG,ABK,MBIA,GM,F etc.

The incoming Obama Administration is determined to help the U.S. auto industry survive the deepening recession.

Ford Motor  reported a third-quarter net loss of just $129 million on Nov. 7. But the numbers that Wall Street and the U.S. government are paying attention to more closely are the $2.9 billion operating loss and the $7.7 billion in cash reserves burned to offset plummeting demand for new vehicles.

General Motors Corp. was downgraded by analysts on Monday following reports that the troubled automaker may not have the minimum cash level of $11-$14 billion in the first quarter of 2009 without receiving additional funding. The stock fell as much as 31% in the morning before finding some support at the $3.30 mark -- an intra-day loss of around 25%.

However, there may be some hope for the beleaguered automakers of Detroit after president-elect Barack Obama emphasized on the need to expedite the disbursement of $25 billion of loans to the industry.

Fannie Mae on Monday posted a $29 billion loss in the third quarter as it took a massive tax-related charge, and said it may have to tap the government's $100 billion lifeline in the coming months.

The US government announced Monday an expanded bailout for insurance giant AIG of more than 150 billion dollars, as the Treasury tapped into emergency funds originally set for banks.

Ambac will need to post an additional $3.2 billion in collateral, after Moody's Investors Service on Wednesday cut its ratings on the bond insurer, according to research firm CreditSights.

The collateral needs could also leave the company with a $2.8 billion cash shortfall at its financial services unit, CreditSights analysts said in a report late on Wednesday.

Moody's cut Ambac Assurance Corp's rating four notches to "Baa1," the third-lowest investment grade, from "



By pelcmarek at Mon, 2008-11-10 16:49 | login or register to post comments

http://www.europac.net/media/PeterSchiff_11-12-2008.mp3

I think this is a must listen to all people in USA.  There are presently two people to listen to in the USA Jim Rogers, Peter Schiff, and possibly Marc Faber.

In summary.

1) get out of all soft assets in USA first - currency, bank accounts, tbills, tbonds.
2) Invest in foreign dividend paying stocks.
3) If your mortgage is Fannie mae, FRE backed consider not paying it.
4) Consider getting the biggest loan you can and not paying it.
5) Although not his recommendation I think you could invest in some US stocks such as INTC, EMN, DD, SQM, ...  that make real things with current ratios above 3.

His company is europacific capital.  AOD seems similar to what he would be offering.


By buybackking at Thu, 2008-11-13 17:57 | login or register to post comments