freecounterpoint: Mopping up white elephant dung

Wednesday, March 18, 2009

Tecumseh said...: More: In the past, AIG has said it will sell assets – pieces of the company -- to raise money to pay back the government for the bailout. Yet it’s possible that the company’s assets are worth much less than the $170 billion taxpayers have handed to the company so far. In fact, at close of trading Tuesday, the stock market valued the entire company at a paltry $2.6 billion.

To laugh, or to cry? OK, boys, how do you rate the chances of Uncle Sam seeing those $170 billion (or any of the other gazzilions spent on various white elephants and assorted zombie banks) back?; 3/18/2009 9:14 AM
Mr roT said...: I am not so sure I buy Goldfarb's argument.

Whenever a company gets bought, the new owners can abrogate some agreements. It depends on what the terms were.

I am no fan of Andrew Cuomo (though his pop could give one hell of a speech), but he has a point in saying (the same as Goldfarb) that without the Gov't money, there would be no goddamn money for the bonuses.

OK, so there isn't still and Summers can blow me.

The real point is still Santelli's, I am afraid. And that is that this $165 M is a non-issue brought up for politics.

Next.; 3/18/2009 2:19 PM
Arelcao Akleos said...: Hey, fine fine, but what about the important question?
Is it white "Elephant Dung", or is it "White Elephant" dung?; 3/18/2009 10:31 PM
Mr roT said...: racist; 3/19/2009 12:02 AM