MUST READ ON AIG, from Rollingstones
 

you should definately read this. one the best articles on AIG

http://www.rollingstone.com/politics...big_takeover/1
US on the way to become a kleptocracy.


few quotes:

"Goldman Sachs, it turns out, was Cassano's biggest customer (AIG), with $20 billion of exposure in Cassano's CDS book. Which might explain why Goldman chief Lloyd Blankfein was in the room with ex-Goldmanite Hank Paulson that weekend of September 13th, when the federal government was supposedly bailing out AIG.

When asked why Blankfein was there, one of the government officials who was in the meeting shrugs. "One might say that it's because Goldman had so much exposure to AIGFP's portfolio," he says. "You'll never prove that, but one might suppose."

Market analyst Eric Salzman is more blunt. "If AIG went down," he says, "there was a good chance Goldman would not be able to collect." The AIG bailout, in effect, was Goldman bailing out Goldman.i"

and

"The crisis was the coup de grâce: Given virtually free rein over the economy, these same insiders first wrecked the financial world, then cunningly granted themselves nearly unlimited emergency powers to clean up their own mess. And so the gambling-addict leaders of companies like AIG end up not penniless and in jail, but with an Alien-style death grip on the Treasury and the Federal Reserve ? "our partners in the government," as Liddy put it with a shockingly casual matter-of-factness after the most recent bailout.

Starting to be a kleptocracy? It started a long time ago around 1913 and the other foot in 1971

Insert timeline pic here.

one can argue when it exactly started, but the problem now is that the kleptocracy will ruin the country into the bankrupcy or in hyperinflation (if debt deflation wins=bankrupcy, if printing wins=hyperinflation)

Just read the whole thing.....

Conclusion....WE ARE FUCKED!

Reagan had the savings and loan scandals, Bush has his Wall Street "bailouts." Now, the Republicans are stalling on recovering the bonus monies and bitching about a 3% increase in taxes on their "whales".

Fuck'em.

Actually thats what they are saying right now about you. :1orglaugh

You think Obama is going to save you? :1orglaugh

Yep but cut the pay of those guys busting thier asses on the line trying to make a honest dollar.

So what type of real difference would John McCain have done by now to help the current situation?

Huh? I never mentioned John McCain?

I just think hyperinflation is not going to happen. SO many countries are caught up in this that every currency gets hurt. It's also much easier to control in the long run.

we have now strong debt deflation, which could still mean bankrupcy for many countries = less taxes X higher spending and bigger debt. they are already trying to change a trend with quantitative easing aka priniting of money.
really hard to predict the final outcome....
deflationists says, debt deflation will win anyway, even if goverment prints bilions of dollars.
inflationists says, the printing will change deflation to inflation or hyperinflation.