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Old 12-07-2008, 02:52 AM
NotThe1 NotThe1 is offline
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Default The Destructive World of "Troubled Assets": Paulson shoots another arrow into the hea


The announcement in the last few days of a deal reached between the U.S. Treasury and the moribund insurance giant, A.I.G. provides a very lucid insight in to the nefarious and destructive world of the Troubled Asset Relief Program, otherwise known as T.A.R.P..Not only have A.I.G. received $152 billion to date and subsequently reported a third quarter loss of $25 billion, now they are to be cleared of their obligation on $53 billion worth of toxic credit default swaps. U.S. taxpayers are now on the hook for $205 billion courtesy of an institution which played in the Wall St. casino that passes for a "Financial Sector" and lost. Under the "Free market" system, so expounded upon by Government and Wall St. alike, A.I.G should be in chapter 11. Bailing out A.I.G and other failing institutions does absolutely nothing to address the fundamental issues at hand.
Blog 4 Paul: The Destructive World of "Troubled Assets": Paulson shoots another arrow into the heart of the Economy

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Old 12-09-2008, 11:37 PM
BlueAngel BlueAngel is offline
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Default Re: The Destructive World of "Troubled Assets": Paulson shoots another arrow into the

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Originally Posted by NotThe1 View Post
The announcement in the last few days of a deal reached between the U.S. Treasury and the moribund insurance giant, A.I.G. provides a very lucid insight in to the nefarious and destructive world of the Troubled Asset Relief Program, otherwise known as T.A.R.P..Not only have A.I.G. received $152 billion to date and subsequently reported a third quarter loss of $25 billion, now they are to be cleared of their obligation on $53 billion worth of toxic credit default swaps. U.S. taxpayers are now on the hook for $205 billion courtesy of an institution which played in the Wall St. casino that passes for a "Financial Sector" and lost. Under the "Free market" system, so expounded upon by Government and Wall St. alike, A.I.G should be in chapter 11. Bailing out A.I.G and other failing institutions does absolutely nothing to address the fundamental issues at hand.
Blog 4 Paul: The Destructive World of "Troubled Assets": Paulson shoots another arrow into the heart of the Economy
The taxpayers are no more in debt now than when they were born.

Last edited by BlueAngel : 12-10-2008 at 07:39 AM.
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