03/18/2010 11:25:40 PM EST

AIG paying back the Bailout

posted by yturks

This article in Slate.com surely will drive the Geithner-hating liberal blogobubblers crazy. It seems that AIG is paying back most of the $182 billion bailout (which seemed like a black hole) through a combination of selling off subsidiaries and an increase in the value of formerly-toxic assets.  The article also reiterates that TARP might or is turning a profit.  

But more than just being annoying, I am asking if anybody can point to a rebuttal of the points made in this article.

http://www.slate.com/id/224 7558/

David

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AIG paying back the Bailout | 5 comments (5 topical, 0 hidden)
Who's on first? (none / 0)

Up is down, black is white, and liberal bloggonauts are the stupid ones for not believing that a massive injection of taxpayer funds into a criminally corrupt enterprise was a swell idea. Silly liberals, didn't you realize that if about 5491 different complex financial transactions all work out perfectly in our favor we might only be out about 12 billion smackeroos when all is said and done...

Hey, where's my Goldman bonus? I'm on a BOAT muthaf^#$er!

by jmoseley on 03/19/2010 02:37:49 AM EST

Well thats refreshing (none / 0)

Aside the from a small point at the end the article seems to celebrate the fact that a debtor might pay back their creditor. I can't exactly blame AIG for the lack of meaningful regulation but if the writer wants to get anyone excited about something get them excited about that.

One thing the article doesn't talk about at all is the adverse affect the situation has had on the economy and in general and the lives of those affected. I don't really think those individuals would be all too impressed with the idea that they might check this off in the win column might pay us back. Due to the overuse of the word might in this reply lets just say i am skeptical to say the least.

 

 DO NOT PURSUE LU BU - LifeEnder

by clout2k on 03/19/2010 09:41:13 AM EST

clout2k is right (none / 0)
Yea, the title of the article and the tone it set makes you think that all the loans and bailouts ARE being paid back or have been paid back, but if you read carefully, it's more projection than done deal.  Still, things on that specific front look good and could be worse, but if that's the best silver lining we can find in this whole thing, it's not too impressive.

David

by yturks on 03/19/2010 01:53:13 PM EST

[ Parent ]
TARP (none / 0)

The NYTimes reported this back in December.  We're actually profiting from the parts of the bailout that was given to banks. 

The parts that are dragging TARP down are the bailout of GM, AIG, and some other parts.  Apparently we're scheduled to get most of the money back from AIG now too.

The bailout of course wasn't meant to be a great investment.  We did it to prevent the collapse of the financial institutions from getting worse and dragging the economy down even farther. 

It has been a great success.  

by publius on 03/19/2010 08:41:03 PM EST

A little cautious optimism can't hurt (none / 0)
As long as people remember that "formerly toxic" assets can become toxic again very quickly given the right circumstances.   People should be asking also if AIG is doing the same things it did before to ratchet up its earnings.   Has anything substantial changed?   Still, I'll take whatever good news I can get.

by bfaul on 03/22/2010 09:55:01 AM EST

AIG paying back the Bailout | 5 comments (5 topical, 0 hidden)
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