Article

2008-11-08 Home Front Economy

AIG Cash Burn Rate Skyrockets: Back to the Well

Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.

Posted by badanov 2008-11-08 07:35|| || Front Page|| [1 views ] Top

#1 Too bad I didn't get an invitation to the feast and orgy. I could have used a bit of help, but, sigh, I didn't screw up enough to get an invitation. Like the rest of the luckless taxpayers, I just got screwed.

Posted by Richard of Oregon 2008-11-08 09:12|| 2008-11-08 09:12|| Front Page Top

#2 Expect a sudden and desperate 'CRISIS' to develop if congress hesitates on the new bailout. Their fiscal health changes daily depending on their perception of their chances of sticking their greasy ham-fists into a pile of taxpayer money.

Posted by bigjim-ky 2008-11-08 09:46|| 2008-11-08 09:46|| Front Page Top

#3 New Management Incentive Plan - performance bonus no longer based on earnings but on amount of Bailout Bucks you can secure for the corporation. If you make you Bailout Bucks metric you will earn a big performance bonus.

Posted by Glenmore">Glenmore 2008-11-08 09:56|| 2008-11-08 09:56|| Front Page Top

#4 I'm all for it....as long as the top 200 execs promise to work for a dollar a year. (I mean, look on the bright side, guys....you'll be well under the 250k mark, so it's a huge favor to you, really!)

Posted by Cornsilk Blondie 2008-11-08 11:07|| 2008-11-08 11:07|| Front Page Top

#5 This is going to continue to happen up to the point Obama steps in and nationalizes Wall Street and the Banks.

If President Bush had a background in finance or if his Treasury Secretary were not an 'academic', or if anyone in the Congress had any actual Wall Street experience they could have stopped this debacle in its tracks long ago.

Modify the mark-to-market rules allowing an 20-40-60-80-100 realization of mark to market losses to allow the firms time to work out the real value of the underlying securities.

Instead, they inject capital into selected firms, hand picked by an unaccountable bureaucrat, so that those firms can buy up their competitors. It is the single most unfair way to solve the problem with the medicine having no relation to the underlying illness.

Ivory Tower academics running the economy and now a socialist going to collectivize the whole thing.

Not a good time to be an American.

Posted by DanNY">DanNY 2008-11-08 14:19|| http://libertyboy.wordpress.com/]">[http://libertyboy.wordpress.com/] 2008-11-08 14:19|| Front Page Top

#6 Not a good time to be an American.

It is ever a good time to be an American.

Posted by .5MT 2008-11-08 15:58|| www.cybernations.net]">[www.cybernations.net] 2008-11-08 15:58|| Front Page Top

#7 Glenmore is right. Notice that the big states and the other industries are yammering for their share of Bailout Bucks.

So long, capitalism, it was nice while it lasted ...

Posted by Steve White 2008-11-08 17:54|| 2008-11-08 17:54|| Front Page Top

#8 It has, and will always be a "good time to be an American." This is a left-wing, moonbat, Hollywoodistan abomaly. Not at all the norm. My prediction, one way or another we'll kick this stuff off of our boots in good time.

Posted by Besoeker 2008-11-08 19:38|| 2008-11-08 19:38|| Front Page Top

#9 Glenmore is right.

I kinda like the sound of that. Think you could teach it to my kids?

Posted by Glenmore">Glenmore 2008-11-08 20:31|| 2008-11-08 20:31|| Front Page Top