Quote:
Originally Posted by QUESTINY
It is important that AIG stay solvent because they are one of the very very few who will insure large company transactions for international trade. We may see the shipping industry hit hard if AIG goes under. Also Consumer goods sent from China and elsewhere. These transactions are insured through AIG for guaranteed deliveries. This company handles all the big businesses. We may not get our TV's next year or our Toyota's if it failed.
This is making things worse. We are approaching the speed of light on this and the $85B just bought AIG time only. Confidence is the only thing holding the markets and the economy together. It is debt not credit! It's funny how the talking heads on TV say the problem is they having trouble valuing the debt. Since when did debt have value!
|
I agree. As I have said before in this forum, there is a fundamental fact that all the "talking heads", and "bernanke's", and "Paulson's", et alia don't, or won't, say to the public - if a business needs money to stay afloat, it is ALREADY insolvent. Thus Q's phrase "just bought AIG time only". The words "just bought time only" can be applied to every move the Bush/Cheney/Rockefeller/Rothschild/Wall Street cabal have made vis a vi Fannie, Freddie, Bear, AIG, et alia, have made - it only buys time. It is the equivilant of "curing" a broken foot by giving the patient morphine so he/she can walk without feeling pain. It is ludicrous to believe that a problem born from a corrupt, manipulated, and directed system can be corrected by "floating" a company money to live "another day".