Goldman Sachs and JP Morgan bully Fed

[Anorakphobia]

Tonight Goldman Sachs and JP Morgan literally stuck a revover in the mouth of the Federal Reserve and said "you bailout AIG or else"
It's rumoured they said if Fed didn't bailout AIG, everything would collpase.
We now have a situation that the World economy is being dictated by a bunch of hideous ba*tards who have operated, robbed and swindled for over 100 years and now want to be fully indemnified for their lunacy so they can continue to draw down 10s of million salary packages for no risk.

The official line is that these two went to the Fed and "helped the Fed appreciate the effects that an AIG collapse would have on financial institutions" Bloomberg.

Just one day after the the Fed and Treasury said absoulutely no more bail outs, they have caved in to Wall Street once more.
Decades of greed and corruption once more swept under the mat while the taxpayer picks up the multi trillion tab to allow these highly paid con men continue the charade of pretending to operate in a free market.
$100 million pay packages and the Fed underwrites you against calamity. Sweet deal, wish I could operate in such an enviornment.

I'd say Lehman must be wondering who they offended to be cast aside when every other failed tom dick and harry have got bailed out.

[expat girl]

The official line is that these two went to the Fed and "helped the Fed appreciate the effects that an AIG collapse would have on financial institutions" Bloomberg.

I'd say Lehman must be wondering who they offended to be cast aside when every other failed tom dick and harry have got bailed out.

I think free market has gotta be the biggest misnomer ever. It's always been bloody expensive, and is about to get more so.

What has AIG/Goldman/JP Morgan got as a persuader than Lehman didn't??

Merchant banker ...rhymes with...

[robert151410]

And what would the alternative be? Do you realise just how big AIG is?

[youngdan]

Why is this a surprise to anyone. Why do you think the bankers went to the trouble to set up The Federal Reserve. Do you think it was for the public good. The House of Morgan was one of the major owners and why shouldn't they save their own hide.

[Anorakphobia]

And what would the alternative be? Do you realise just how big AIG is?

Yes of course I do.
If Microsoft spend the next 5 years making ************************ products and tehir stock falls to 2 bucks, should they be bailed out?
If Warren Buffett goes batty in his old age and makes a string of multi billion disastrous investmnet bets, should Berkshire Hathaway be bailed out with taxpayers funds?

AIG is a plc and no plc should be allowed to operate in the knowledge that if they fail they are indemnified with tax payers funds.

BTW
The last hour rally on Wall St has been compltely reversed now in after hours trading.
What a joke, an orchastrated hijacking to ensure newsapapers have a dow rally story tommorrow.
A complete ************************ing joke, this is Indonesian style government market intervention.

[badinage]

If Microsoft spend the next 5 years making * siúcra * products and tehir stock falls to 2 bucks, should they be bailed out?

If by not bailing them out a large number of ordinary people working in other industries will be made redundant, and everyone else's standard of living will decline, then possibly yes.

You're not arguing that the Federal Reserve is contemplating bailing financial institutions out in order to help out the Chief Executives, rather than for the (short term) greater good of the citizenry and country as a whole, are you?

[expat girl]

If Microsoft spend the next 5 years making * siúcra * products and tehir stock falls to 2 bucks, should they be bailed out?

If by not bailing them out a large number of ordinary people working in other industries will be made redundant, and everyone else's standard of living will decline, then possibly yes.

You're not arguing that the Federal Reserve is contemplating bailing financial institutions out in order to help out the Chief Executives, rather than for the (short term) greater good of the citizenry and country as a whole, are you?

I think we can all agree that the next Glorious Leader of the "Free" world is gonna have a HELL of a job..... if I were Obama or Mc Cain, I think I'd just give the reins back to Bill Clinton... the last man with a market surplus, whatever about his truthfulness. The Dems are idiots, they needed Hillary, she comes with an experienced advisor

[robert151410]

I think this is the best fun in years.

And as usual we have the left wing churlish brigade in the corner saying that all these institutions should be allowed fail.

Churlish is my word of the day.

[Anorakphobia]

I think this is the best fun in years.

And as usual we have the left wing churlish brigade in the corner saying that all these institutions should be allowed fail.

Churlish is my word of the day.

What's so funny about it?

What is playing out right now is stagerring.
It has the potential to be as serious as a World War with potentially 100s of millions of previously comfortable people impoverished.
Why?
Because the US facilited the greatest finacial scam in the history of the World and allowed it grow so big, it now cannot be contained.

So belt on if you wish with your ignorant glib replies, it's casual indifferent ************************wittery like that that has help facilitated this calamity.

[expat girl]

I think this is the best fun in years.

And as usual we have the left wing churlish brigade in the corner saying that all these institutions should be allowed fail.

Churlish is my word of the day.

Fun until you too lose your job/shirt. Have some compassion