Part of AIG rescue pkg. could benefit wv citizens...

http://wvgazette.com/News/200811110595

Well it looks like A.T. Massey is locking horns with perhaps the most powerful Insurance Company in the world.

The article does not say what the agreed settlement between Massey and the plaintiffs was, but since AIG is refusing to go along that would indicate it must be above Massey's $5 million deductible.

It looks like maybe AIG wants all parties named to accept liability so each entity has to pay a separate deductible.

Has Massey met their match?

The "most powerful insurance company in the world" is begging for more money from Congress. What do you call a corporation that is "too big to fail"? I call it a trust. Aren't they supposed to be broken?

http://online.wsj.com/article/SB122627437470412029.html

ohio county wrote:The "most powerful insurance company in the world" is begging for more money from Congress. What do you call a corporation that is "too big to fail"? I call it a trust. Aren't they supposed to be broken?

http://online.wsj.com/article/SB122627437470412029.html

Good point, OC.

Well I don't claim to know.

But I think what they mean by that phrase is we cant afford to let a company that big fail.

For example, if AIG goes belly-up and cant protect Massey and others like them then Massey and others like them will fail too.

Now I am no big cheerleader for Massey or AIG.

I think they dont pay their fair share.

But I do not want them to fail.

I suspect a lot of the current analysts dont know what hard times are.

And I hope they dont have to find out.

And if they prevail I hope they are right.

How is it you don't think they pay their fair share but you want the taxpayers to inject billions of dollars into the business they have managed to run into the ground despite their light tax burden?

You make no sense at all.

Well do you think they pay their fair share?

Do you think Massey is a good corporate citizen?

My answer to all three questions is no.

I would rather for them to stay in business.

But I would rather they were forced to clean up their act.

Do you want them to fail?

I don't want to have to pay for bonuses for executives who ran a company into the ground. I don't want my children to have to pay for trips to luxury resorts and $150.00 a plate meals. I don't want my grandchildren to have to pay because our government decided to throw good money after bad.

If that means AIG will fold, then let it fold. Enough is enough.

Well the point is it is not just AIG.

If it was just AIG I wouldnt care that much either.

Please remember it was I who took heat and humiliation from you and your sidekick for first suggesting Big Insurance was in this deal as well as banks.

So I am not a big defender of the big insurance companies.

But I dont want them to fail, I just want them reined in a little bit and better regulated.

Who is her sidekick?

Well then you should volunteer to pay for it.

I think all Americans who want to bail out a bankers and automotive unions and other fatcats should volunteer to have their wages, or SS checks, or retirement checks garnished for that purpose. My family has one kid in college and another who will be starting in 9 months. We can't afford to bailout insolvent companies and the executives who ran them into the ground. Go after the people who took the money and ran, leave me the hell alone.

It's time to be patriotic, time to jump in, time to be part of the deal.

I think all Americans who want to bail out a bankers and automotive unions and other fatcats should volunteer to have their wages, or SS checks, or retirement checks garnished for that purpose.

I agree.

Sometimes I can't figure out if ole' Sodbuster is for real, or if he's just being a devil's advocate.

Well guys I live way up the holler here.

I have a garden and woods all around me.

I have two wood burners.

So I might have to sit around the wood fire and eat a lot of deer steak. but a "country boy can survive".

But I dont want to see the economy collapse, as it appears some do.

So be careful what you wish for, because you might get it.

Sherm,

Who the hell is wishing for the economy to collapse?

What I want is for the government to allow the market to correct itself. I want the government to let the appropriate agency do its job regarding insolvent financial institutions....that would be FDIC. I want the government to get the hell out of our lives and our wallets. I want the government to investigate and prosecute those responsible for running Fannie & Freddie into the ground. I want the government to investigate, and prosecute when appropriate, those members of Congress who aided and abetted in this latest fleecing of America. I want Congress to reclaim control of our currency. I want to end the Fed!

Finally, more than anything, I want our federal government to work within the framework of the Constitution. I want our Representatives and Senators and our President to fulfill their Constitutionally authorized roles, not to delegate them, and not to overstep them.

I guess I want too much.

Finally, more than anything, I want our federal government to work within the framework of the Constitution. I want our Representatives and Senators and our President to fulfill their Constitutionally authorized roles, not to delegate them, and not to overstep them.

I guess I want too much.

Yes, I think you do. As long as election campaigns are financed the way they are, you're not going to see anything other than more and more dancing with them that brung 'em.