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AIG exit plan to slash U.S. bailout costs-official

Gibberish

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American International Group's (AIG.N) plan to exit government support could cut the cost of the U.S. Treasury's bailout program by half, to less than $50 billion based on current market valuations, a senior Obama administration official said on Thursday.

The plan to convert the Treasury's preferred shares in the bailed out insurer to common stock could yield a profit of around $16.5 billion for taxpayers, compared to a previously estimated loss of about $45 billion, the official said.
CORRECTED - UPDATE 1-AIG exit plan to slash U.S. bailout costs-official | Reuters

The bailout's started by Bush and taken even further by Obama were a horrible idea and to me this maybe a lucky break for Obama.

Mr President, I'd prefer you to NOT use my tax dollars at the craps table. Just because you may have come back positive this time doesn't negate the fact that you chose to participate in reckless gambling.
 

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CORRECTED - UPDATE 1-AIG exit plan to slash U.S. bailout costs-official | Reuters

The bailout's started by Bush and taken even further by Obama were a horrible idea and to me this maybe a lucky break for Obama.

Mr President, I'd prefer you to NOT use my tax dollars at the craps table. Just because you may have come back positive this time doesn't negate the fact that you chose to participate in reckless gambling.
No one knows what would have happened without the bailouts or the stimulus even though they claim to. Bernanke and the top economic minds in the country said we would have gone into a depression worse than the Great One without the spending. They just might have saved our country. No one knows.
 

Councilman

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No one knows what would have happened without the bailouts or the stimulus even though they claim to. Bernanke and the top economic minds in the country said we would have gone into a depression worse than the Great One without the spending. They just might have saved our country. No one knows.
Any Minor good done will never in the long run offset the damage from the billions in wasteful spending and the economic damage coming from the phony Health Plan, Cap and Trade, and the rest of Obama's dangerous agenda. None of it so far has worked as claimed and all the damage has been fully felt yet.

But mark my words it's coming and we get one good chance to Restore America and our Constitution.

You do know it is also widely believed that fully one third of that money has has been held in reserve for another October surprise to try to effect the out come in the Nov. elections.

Until massive spending cuts are accompanied and a reduction in Taxes large enough to encourage manufacturing to grow because consumer confidence will go up and Jobs will be created. It's an attitude and mind set that will come with better plans.

I believe there is so much disillusionment now with Obama by the Democrat party, and of course by the Majority in the rest of us in the Trifeecta of Doom and the rest 0f Congress there is going to be a changing of the guard come Nov.
 

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Any Minor good done will never in the long run offset the damage from the billions in wasteful spending and the economic damage coming from the phony Health Plan, Cap and Trade, and the rest of Obama's dangerous agenda. None of it so far has worked as claimed and all the damage has been fully felt yet.

But mark my words it's coming and we get one good chance to Restore America and our Constitution.

You do know it is also widely believed that fully one third of that money has has been held in reserve for another October surprise to try to effect the out come in the Nov. elections.

Until massive spending cuts are accompanied and a reduction in Taxes large enough to encourage manufacturing to grow because consumer confidence will go up and Jobs will be created. It's an attitude and mind set that will come with better plans.

I believe there is so much disillusionment now with Obama by the Democrat party, and of course by the Majority in the rest of us in the Trifeecta of Doom and the rest 0f Congress there is going to be a changing of the guard come Nov.
Funny how you were silent when Bush pissed away 6 trillion dollars and Reagan trippled the US debt..
 

Councilman

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Funny how you were silent when Bush pissed away 6 trillion dollars and Reagan trippled the US debt..
What is really funny is you don't know what the hell your talking about even a little bit.

First I wasn't even signed onto this site until 04-25-09 so at least try to get a grip on reality and a few the facts that always seem to go the way of the Great Auk when ever one of your ilk goes on the attack an choose to use minor points that have nothing to do with the topic at hand, and then add made conclusions in another failed attempt to appear clever.

FYI I am a retired Reporter, Radio Talk Show Host, and politician and was very busy until I retired going after Bush's wasteful spending on the wars in Afghanistan and Iraq comparing the money spent with the costs of WW-II is today's dollars and it is frightening to see that we spent more in a few years in two small countries than we spent in four years fighting around the world.

I also apposed many of his other actions on a regular basis. You see Pal I am a Conservative not a republican and I am all about what is for what is good for our Nation in general and "WE THE PEOPLE" specifically.

Bush did run up the debt and it was wrong and the prosecution of wars justified or not, the cost was way (BEEPING) more than it should have because the Military farms out too many of the functions they used to handle in house like transportation of supplies and the meals being prepared by by contractors at exorbitant costs.

Companies like Backwater soaked us all.

Obama has now Nearly doubled the Bush debt in two years to over13 trillion dollars and it's climbing too fast to read.
Just try to read it/
Defeat The Debt
 
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Boo Radley

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I always say, you are what you eat. Eat a lot of garbage, and you become garbage.

Look, I don't know anyone, other than Bush and Reagan supporters who once told us the deficit was meaningless, who is arguing in favor of the deficit. Instead, many are noting the circumstances and perhaps arging this is the best we can do today. And some of us are arguing that if you really care about the debt, you have to call for reducing spending and raising taxes.
 

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What is really funny is you don't know what the hell your talking about even a little bit.

First I wasn't even signed onto this site until 04-25-09 so at least try to get a grip on reality and a few the facts that always seem to go the way of the Great Auk when ever one of your ilk goes on the attack an choose to use minor points that have nothing to do with the topic at hand, and then add made conclusions in another failed attempt to appear clever.

FYI I am a retired Reporter, Radio Talk Show Host, and politician and was very busy until I retired going after Bush's wasteful spending on the wars in Afghanistan and Iraq comparing the money spent with the costs of WW-II is today's dollars and it is frightening to see that we spent more in a few years in two small countries than we spent in four years fighting around the world.

I also apposed many of his other actions on a regular basis. You see Pal I am a Conservative not a republican and I am all about what is for what is good for our Nation in general and "WE THE PEOPLE" specifically.

Bush did run up the debt and it was wrong and the prosecution of wars justified or not, the cost was way (BEEPING) more than it should have because the Military farms out too many of the functions they used to handle in house like transportation of supplies and the meals being prepared by by contractors at exorbitant costs.

Companies like Backwater soaked us all.

Obama has now Nearly doubled the Bush debt in two years to over13 trillion dollars and it's climbing too fast to read.
Just try to read it/
Defeat The Debt
Again, where were you and people like you under Reagan and Bush?

And stop trying to push the fallacy that Obama has nearly doubled the debt in two years... The statistics simply do not agree with you.

If we go by when Obama came to office the debt was 10.6 trillion. If we go by the first Obama budget (an argument I believe you or one of your compatriots made when it came to Bush and Clinton), which started 1. October 2009, then the debt was 11.89 trillion. The debt as of August 2010 was 13.44 trillion. Now any idiot can see that going from 10.6 or 11.89 trillion to 13.44 trillion is NOT even close to doubling the debt.

http://www.treasurydirect.gov/govt/reports/pd/mspd/mspd.htm

Has all the monthly statements.. down to the last dollar.

So again, stop lieing and acknowledge that most of the US debt is in fact due to two Republican Presidents.. Reagan that trippled it and Bush that doubled it.

And dont forget.. AIG was under Bush's watch. Yes in 2008 we still had the brainless as US president.
 
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Gibberish

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Again, where were you and people like you under Reagan and Bush?

And stop trying to push the fallacy that Obama has nearly doubled the debt in two years... The statistics simply do not agree with you.

If we go by when Obama came to office the debt was 10.6 trillion. If we go by the first Obama budget (an argument I believe you or one of your compatriots made when it came to Bush and Clinton), which started 1. October 2009, then the debt was 11.89 trillion. The debt as of August 2010 was 13.44 trillion. Now any idiot can see that going from 10.6 or 11.89 trillion to 13.44 trillion is NOT even close to doubling the debt.

Government - Monthly Statement of the Public Debt (MSPD) and Downloadable Files

Has all the monthly statements.. down to the last dollar.

So again, stop lieing and acknowledge that most of the US debt is in fact due to two Republican Presidents.. Reagan that trippled it and Bush that doubled it.

And dont forget.. AIG was under Bush's watch. Yes in 2008 we still had the brainless as US president.
Though I don't agree with a lot that Obama does I can never understand the need from some to lie and exaggerate to try and support their opposition.

Defeat The Debt eludes that Obama took office with zero debt and inheriting no policies from the previous administration that were adding to the debt.
 
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Deuce

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Though I don't agree with a lot that Obama does I can never understand the need from some to lie and exaggerate to try and support their opposition.

Defeat The Debt eludes that Obama took office with zero debt and inheriting no policies from the previous administration that were adding to the debt.
No policies that were adding to the debt?

Wow. I mean there's ignorant and then there's just living in some other universe.
 

Objective Voice

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Again, where were you and people like you under Reagan and Bush?

And stop trying to push the fallacy that Obama has nearly doubled the debt in two years... The statistics simply do not agree with you.

If we go by when Obama came to office the debt was 10.6 trillion. If we go by the first Obama budget (an argument I believe you or one of your compatriots made when it came to Bush and Clinton), which started 1. October 2009, then the debt was 11.89 trillion. The debt as of August 2010 was 13.44 trillion. Now any idiot can see that going from 10.6 or 11.89 trillion to 13.44 trillion is NOT even close to doubling the debt.

Government - Monthly Statement of the Public Debt (MSPD) and Downloadable Files

Has all the monthly statements.. down to the last dollar.

So again, stop lieing and acknowledge that most of the US debt is in fact due to two Republican Presidents.. Reagan that trippled it and Bush that doubled it.

And dont forget.. AIG was under Bush's watch. Yes in 2008 we still had the brainless as US president.
The mere fact that TARP was enacted by GW Bush kills that argument right there. I'll give you the stimulus spending was all Obama, but since most economist say not even half of it has been spent yet (and even some Republicans are still arguing why all of the money hasn't been allocated to date), it just stands to reason that alot of the information about Obama spending (some, of which, hasn't even started yet, ie., appropriates yet to be acquired for health care reform legislation beyond what was authorized to start state high-risk pools), all this talk of spending under Obama is misleading at best.

I've said it from the start, Corperate American (banks) couldn't fix itself...still can't. Thus, IMO, it was responsible for the Obama Administration to not only re-evaluate TARP spending to the banks and auto industry to ensure taxpayer dollars would be repaid (or atleast as much as possible would be recouped in the short-term), but also to force the banks to keep "emergency funds" available from here on out to ensure something like this never happens again. The funny thing is aspects of TARP where the bank bailout is concerned mirrors pretty much exactly what former Pres. Clinton did in 1998 when this same thing happened with the banks. The only difference then was the housing market wasn't affected, just speculative high-risk leanding practises. The banks didn't learn their lesson then because no new legislation was ever enacted to change the rules nor were those charged to oversee speculative trading on Wall Street doing their jobs!

Like it or not, but TARP was necessary (for the banks at least; and in a way for the auto industry, too); so was the ARRA (stimulus bill). It's just a shame some people refuse to see how bad the situation was and would rather complain about how bad things are now rather than be grateful things didn't get any worse. :(
 

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The mere fact that TARP was enacted by GW Bush kills that argument right there. I'll give you the stimulus spending was all Obama, :(
You must be ignoring the fact that the first stimulus was in spring of '08 when Bush was still president.
 

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CORRECTED - UPDATE 1-AIG exit plan to slash U.S. bailout costs-official | Reuters

The bailout's started by Bush and taken even further by Obama were a horrible idea and to me this maybe a lucky break for Obama.

Mr President, I'd prefer you to NOT use my tax dollars at the craps table. Just because you may have come back positive this time doesn't negate the fact that you chose to participate in reckless gambling.
I agree that the bailout was a horrible idea. It also shows what kind of a double standard we have in this country. If you or I screw up in life, we are screwed. If a bankster does it, he is rewarded with a loan and a bonus.
 

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I agree that the bailout was a horrible idea. It also shows what kind of a double standard we have in this country. If you or I screw up in life, we are screwed. If a bankster does it, he is rewarded with a loan and a bonus.
Bankers own our government.
 

danarhea

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Bankers own our government.
They are like out of control children, who break the toys they own, and then throw tantrums until they get more toys they can break.
 

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No one knows what would have happened without the bailouts or the stimulus even though they claim to. Bernanke and the top economic minds in the country said we would have gone into a depression worse than the Great One without the spending. They just might have saved our country. No one knows.
It seems that no one is saying that we were just lucky that we didn't have a major depression even though we had the bailouts. The choices were a) no bailout and we go into a major depression, b) no bailout and we don't go into a major depression, and c) bailout and we know that we will be able to avoid a major depression. Given these choices, I think that there is only one choice -- do the bailout. There is no case were the bailout causes us to enter a depression but there is a possibility that not doing the bailout will put us into a depressions. Looking back and saying "who knows" both completely misses the point and is the point -- who knows. Because we could not say that we would stay out of a depression worse than the big one without the bailout, the bailout becomes an absolute imperative. Second guessing this decision is easy. If you had been the person having to make this call and risk the global economy, there is only one choice -- bail them out and then go after them. The Republicans seem only to have embraced part of this. They voted for the bailout (started under Bush) but seem to have little stomach for trying to make sure that those Wall St. bastards aren't able do to this to us again.
 

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People haven't forgotten about it.

It's the reason why Bush went down in the polls and why the Tea Party was formed.

It's not a matter of Democrats versus Republicans, it's a matter of fiscal conservatives versus big spenders.
As far as I can see, all the Tea Party folks want to do is cut the spending that helps anyone other than them. Go ask one of those gray-haired TPers if they want to see their Medicare or SS cut and they will say something inane like "the government needs to leave my Medicare and SS alone" as if those aren't government programs (honest, I've seen them do this with my own eyes).
 

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People haven't forgotten about it.

It's the reason why Bush went down in the polls and why the Tea Party was formed.

It's not a matter of Democrats versus Republicans, it's a matter of fiscal conservatives versus big spenders.
Ahhh revisionist history at its finest.. Bush was already in the toilet in the polls... and yet defended by the right.. go figure!
 

tacomancer

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People haven't forgotten about it.

It's the reason why Bush went down in the polls and why the Tea Party was formed.

It's not a matter of Democrats versus Republicans, it's a matter of fiscal conservatives versus big spenders.
His approval was down way before 2008.

 

Grant

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Ahhh revisionist history at its finest.. Bush was already in the toilet in the polls... and yet defended by the right.. go figure!
He was very far down in the polls yet defended by some in certain areas. though not necessarily the economy. There was the war in Iraq, for example, where he did get some strong support.

So before you make comments about "revisionist history", you might want to think the matter through, as well as get more specific on the areas under discussion.
 
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Grant

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As far as I can see, all the Tea Party folks want to do is cut the spending that helps anyone other than them. Go ask one of those gray-haired TPers if they want to see their Medicare or SS cut and they will say something inane like "the government needs to leave my Medicare and SS alone" as if those aren't government programs (honest, I've seen them do this with my own eyes).
Did you ever find out for yourself what "those gray-haired TPers" stand for?

Here's some info.

http://teapartypatriots.ning.com/
 
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PeteEU

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He was very far down in the polls yet defended by some in certain areas. though not necessarily the economy. There was the war in Iraq, for example, where he did get some strong support.

So before you make comments about "revisionist history", you might want to think the matter through, as well as get more specific on the areas under discussion.
LOL you are the one that brought it up by regurgitating a typical right wing falsehood. It was YOU that claimed that he was down in the polls due to the bailout, a clear and utter falsehood. He was down in the polls LONG before that. And yet all I pointed out that despite being down in the poll toilet at the time, most Republicans even on these boards and especially in the party... defended him tooth and nail regardless of the subject.
 

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LOL you are the one that brought it up by regurgitating a typical right wing falsehood.
It is not a "falsehood.

As you might not know, it is usually the Middle that decides the elections in the United States, as it is most everywhere.

While much of the middle was prepared to support him on the Iraq war, and other issues, they could not abide his bank bailouts and stimulus programs, and that's largely why Obama is going down in the polls as well.

Why not deal with specifics rather than slogans?
It was YOU that claimed that he was down in the polls due to the bailout, a clear and utter falsehood
.

As I just explained, it was not. That is when he began to lose the middle and why you see the Tea Party protesters out there today.. You really don't know much about US politics and it's not clear why you even bother commenting.

He was down in the polls LONG before that.
Yes, he was but for different reasons. It was the overspending where he lost the fiscal conservatives.

And yet all I pointed out that despite being down in the poll toilet at the time, most Republicans even on these boards and especially in the party... defended him tooth and nail regardless of the subject.
Oh they well might have done because a Left wing Brit hardly has any insight on American politics or politicians. You were probably stoned and all over the map.
 

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I always say, you are what you eat. Eat a lot of garbage, and you become garbage.

Look, I don't know anyone, other than Bush and Reagan supporters who once told us the deficit was meaningless, who is arguing in favor of the deficit. Instead, many are noting the circumstances and perhaps arging this is the best we can do today. And some of us are arguing that if you really care about the debt, you have to call for reducing spending and raising taxes.
Why is it Liberals and those claiming to Others are so quick to try to put works in others mouths.

You have no earthly idea what anyone was doing or saying bout what happened back in the 80s and besides it is not a part of the facts in question today.

It is so childish, it's like when 10 year old Jimmy gets caught stealing cherries off a tree and when he's confronted he says: 'Well oh yeah! Billy stole some Cookies."

Obviously one thing has not one damn thing to do with the other. This comes under WT* Over.

What would have happened had the Trifecta of Doom, Obama, Pelosi, Reid and the dumb ass Congress had not continued the mistake of the Bailouts, we would be where we are headed, no. Down the toilet because spending money you don't have on plans that don't work, while pushing for massive Tax Increases from the phony Health plan, and over Cap and Trade, that will further kill the job Market and either continue the rescission or push us into the planned result of Obama following the Cloward & Pevin Strategy.
 
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