Archive: 13 posts

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umm did anyone else hear about AIG and their stocks and their financial situation. Teedering affect of a depression?? Oh wow i relaly hope not

2008-09-16 22:05:00 Author: Frank-the-Bunny Posts: 1246

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umm did anyone else hear about AIG and their stocks and their financial situation. Teedering affect of a depression?? Oh wow i relaly hope not Yeah as long as it happens after LBP game comes out. I just need some money until than.

2008-09-16 22:08:00 Author: Darth_Spartan Posts: 813

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yeah its all kinda scary, I know a lot of people that have lost most of their retirement not good at all.

2008-09-16 23:33:00 Author: OverWork Posts: 873

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Not just AIG. The entire stock market took a huge plunge. We're in a pretty bad spot at the moment. Take a look back at the late 20s - very similar. I hope/think we'll be able to get out of it. And before anyone brings up how FDR "saved" us - no. The Japanese saved us when they bombed us.

2008-09-17 00:11:00 Author: bbroman Posts: 1374

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yah i remember all taht it is scary to think

2008-09-17 01:23:00 Author: Frank-the-Bunny Posts: 1246

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Yea but the Feds are buying out a portion of AIG, still there's no way they can by out all the companies that are gonna start failing. It's bound to happen, I doubt we'll be saved, Hope so though

2008-09-17 03:14:00 Author: LittleBigMan Posts: 326

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an investment compnay went bankcrupt... everyone was insured for up to 500 millon dollars but when they went bankcrupt people lost their money... someone tampered with the numbers and took all the money... thats why the economy is bad... *cool fact* the economy dropped more after the company went bankcrupt than after 9/11

2008-09-17 03:21:00 Author: 12454522412412 Posts: 779

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85 Billion loan (http://consumerist.com/5050867/feds-loan-aig-85-billion) might get things sorted.

2008-09-17 12:50:00 Author: Rabid-Coot Posts: 6728

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Yeah they paid 85 million, but could have went with 20 million last friday but the federal government said nope. Should have done the 20 million.

2008-09-17 14:45:00 Author: Darth_Spartan Posts: 813

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Actually, it's not quite as severe as the twenties. The twenties had massively bloated stock prices across the board that were FAR above what they were actually worth. Pinprick the bubble, and the whole thing collapses. And since so many people and companies, including banks, had money in the stock market, things went to pot. Today, we have laws in place to prevent such bloating of stock, so the Great Depression is not going to happen. So yes, these two large companies took a significant chunk out of the stock market, but it won't be too long before things come around. The bad part in this case is more of the people who got hit individually by these bigs.

2008-09-17 17:25:00 Author: Mark D. Stroyer Posts: 632

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I didn't say the Great Depression is on it's way back. But it's still pretty scary. At the same time - why'd they have to bail out AIG? This isn't going to help the economy.

2008-09-18 00:59:00 Author: bbroman Posts: 1374

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actually since they bailed out aig the economy went down another 450 points because of the bail-out...

2008-09-18 02:17:00 Author: 12454522412412 Posts: 779

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At the same time - why'd they have to bail out AIG? This isn't going to help the economy. Umm, why bail out the biggest insurance company in the world? Maybe because if they go bankrupt, all hell's going to break loose?

2008-09-18 13:31:00 Author: Linque Posts: 607

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