interesting.....

[Dawg Fan]

Remember when this economic crisis hit, and Congress let Bear Sterns go under, pushed a bunch of force d marriages between banks, etc.?

Then they bailed out AIG.

At the time, I thought:"That's strange. What does an insurance company have to do with this crisis?"



I just discovered that among other things, AIG INSURES THE PENSION TRUST OF THE UNITED STATES CONGRESS!!

No wonder they got bailed out right away!



It's a great feeling knowing that our lawmakers are there looking out for their best interest...

Check snopes

[Firebird]

Epic. Fail. Not only does snopes not address that issue other than a thread that basically assets the same thing you just did without any supporting evidence:

http://message.snopes.com/showthread.php?t=41180

But it turns out to also be not true:

http://www.factcheck.org/askfactcheck/did_congress_bail_out_aig_because_it.html

American International Group Inc. was the recipient of a government "bailout" of about $85 billion back in September of last year. But the loan that was extended to the failing insurance company was not the work of the U.S. Congress. The deal was brokered by the Federal Reserve with the backing of the Treasury Department. In fact, some members of Congress were not at all supportive of the deal.

Furthermore, the decision to lend the company money could have nothing to do with pensions for members of Congress. AIG does not insure the pension trust fund that covers members of Congress and other federal employees. AIG spokesman Peter Tulupman dismissed the claim as "an unsubstantiated rumor." And Kathy McGettigan, deputy associate director of the Office of Personnel Management's Center for Retirement and Insurance Services, told FactCheck.org: "No one insures that fund. The fund's assets are backed by the earned benefits of [federal] employees. The fund itself is not insured."

[HUM398]

Remember when this economic crisis hit, and Congress let Bear Sterns go under, pushed a bunch of force d marriages between banks, etc.?

Then they bailed out AIG.

At the time, I thought:"That's strange. What does an insurance company have to do with this crisis?"



I just discovered that among other things, AIG INSURES THE PENSION TRUST OF THE UNITED STATES CONGRESS!!

No wonder they got bailed out right away!



It's a great feeling knowing that our lawmakers are there looking out for their best interest...

Check snopes

Its what happens when Congress views themselves as indispensable....and a view of themselves as sovereign over the Constitution.


True or not...I still think they are a worthless group of "leaders"

[4th and 1]

Interesting, but not surprising at all! Bunch of self interest hypocrites. Just more proof that there needs to be term limits. :mad:

[HUM398]

Interesting, but not surprising at all! Bunch of self interest hypocrites. Just more proof that there needs to be term limits. :mad:

I'm down with a ban on consecutive Term limits, but not overall term limits.


I also believe the same for the presidency.

[Firebird]

Interesting, but not surprising at all! Bunch of self interest hypocrites. Just more proof that there needs to be term limits. :mad:

What would be really surprising is one of these posts turning out to be true.

[RedRage00]

Firebird 1
dawgfan 0

[HUM398]

What would be really surprising is one of these posts turning out to be true.

Who cares.

Congress sucks.....Dispute that...

[JagFan]

Who cares.

Congress sucks.....Dispute that...

:notworthy

[Dawg Fan]

What would be really surprising is one of these posts turning out to be true.

even more surprising would be if anything on this forum really was important or had any real meaning

[RedRage00]

even more surprising would be if anything on this forum really was important or had any real meaning

dawgfan's typical response when he gets owned.

Why so serious?

LMAO

[stevefoxsc]

even more surprising would be if anything on this forum really was important or had any real meaning

stop posting and maybe important stuff would get noticed.

[RedRage00]

stop posting and maybe important stuff would get noticed.

Are you surprised? It was important enough to him to post it until he got owned. :rolleyes:

He just needs to stop trying to debate with Firebird. lol

[HUM398]

Are you surprised? It was important enough to him to post it until he got owned. :rolleyes:

He just needs to stop trying to debate with Firebird. lol

Get off of Birds dick dude.... You may like to take it down the throat, but none of us enjoy watching.

[RedRage00]

Get off of Birds dick dude.... You may like to take it down the throat, but none of us enjoy watching.

LMAO! :Music

[DragonWatcher]

Who cares.

Congress sucks.....Dispute that...

The problem is Congress has always sucked in Americans eyes yet it has a 98% retention rate overall for our politicians. The advent of political polling helps explain this pretty well, as Americans we hate Congress as a body but usually personally we love our individual Congressman. We hate what we think of as "pork" as Republican Senator Charles Grassley says the stimulus bill is full of with things like school spending, yet we love when its in our actual state/district as we love free stuff. Grassley despite his objections to this bill though had no problem adding funding to Bush's 04 spending bill in the form of 50 million for an indoor rainforest in freaking IOWA. I wholeheartedly agree with Firebird that at least the democrats believe their own bull$#@*, Somehow any current congressional republican telling me they're fiscally conservative and objecting to this bill on "principle" is absolutely laughable in my mind.

[Dawg Fan]

stop posting and maybe important stuff would get noticed.

you mean like the crap you post?:rolleyes:

ROTFLMAO!!!

[JagFan]

The problem is Congress has always sucked in Americans eyes yet it has a 98% retention rate overall for our politicians. The advent of political polling helps explain this pretty well, as Americans we hate Congress as a body but usually personally we love our individual Congressman. We hate what we think of as "pork" as Republican Senator Charles Grassley says the stimulus bill is full of with things like school spending, yet we love when its in our actual state/district as we love free stuff. Grassley despite his objections to this bill though had no problem adding funding to Bush's 04 spending bill in the form of 50 million for an indoor rainforest in freaking IOWA. I wholeheartedly agree with Firebird that at least the democrats believe their own bull$#@*, Somehow any current congressional republican telling me they're fiscally conservative and objecting to this bill on "principle" is absolutely laughable in my mind.

Your right there are very few fiscally conservative Rebublicans in the Congress at this time. Come 2010 that will change, I hope.

[HUM398]

The problem is Congress has always sucked in Americans eyes yet it has a 98% retention rate overall for our politicians. The advent of political polling helps explain this pretty well, as Americans we hate Congress as a body but usually personally we love our individual Congressman. We hate what we think of as "pork" as Republican Senator Charles Grassley says the stimulus bill is full of with things like school spending, yet we love when its in our actual state/district as we love free stuff. Grassley despite his objections to this bill though had no problem adding funding to Bush's 04 spending bill in the form of 50 million for an indoor rainforest in freaking IOWA. I wholeheartedly agree with Firebird that at least the democrats believe their own bull$#@*, Somehow any current congressional republican telling me they're fiscally conservative and objecting to this bill on "principle" is absolutely laughable in my mind.

While that may be true for certain point in our histroy, it is not the overwhelming truth.

The Retention rate has little to do with our like of our congressmen, and more to do with party politics and lobbyist. I think a good majority of people in this country underestimate how much power the lobbyist really have in this country...Remember, this has become who has the most money to win...Not who is most qualified.

The Retention of our politicians is the main reason for my hatred for them...I am sure most go in wanting to make a difference, but most end up thirsting for power...and searching for ways to maintain and amplify it.

I will tell you right now...that this bill is absolute crap.... this supposed "stimulus" is designed to fail from the get go. I could see spending this much money if it was entirely on infrastructure, but the argument that it will supply jobs is laughable at best.

Obama slipped the other day and said something that really struck me as true in this case...something to the effect of "you aren't letting us dig our way out of this hole".....Thats the thing, Digging just gets us into this crisis further...instead we need to be filling this hole. You can't spend your way out of finical trouble with other peoples money....it's abhorrently wrong.

Critics of "trickle down Economy" are blinded to the fact that it worked for 6 years...But the lack of oversight allowed greed to overtake....Americans began to spend more, and save less....Not only is this crisis the fault of Government and Big Business....a great deal of it lies in the laps of the American people.

[JagFan]

While that may be true for certain point in our histroy, it is not the overwhelming truth.

The Retention rate has little to do with our like of our congressmen, and more to do with party politics and lobbyist. I think a good majority of people in this country underestimate how much power the lobbyist really have in this country...Remember, this has become who has the most money to win...Not who is most qualified.

The Retention of our politicians is the main reason for my hatred for them...I am sure most go in wanting to make a difference, but most end up thirsting for power...and searching for ways to maintain and amplify it.

I will tell you right now...that this bill is absolute crap.... this supposed "stimulus" is designed to fail from the get go. I could see spending this much money if it was entirely on infrastructure, but the argument that it will supply jobs is laughable at best.

Obama slipped the other day and said something that really struck me as true in this case...something to the effect of "you aren't letting us dig our way out of this hole".....Thats the thing, Digging just gets us into this crisis further...instead we need to be filling this hole. You can't spend your way out of finical trouble with other peoples money....it's abhorrently wrong.

Critics of "trickle down Economy" are blinded to the fact that it worked for 6 years...But the lack of oversight allowed greed to overtake....Americans began to spend more, and save less....Not only is this crisis the fault of Government and Big Business....a great deal of it lies in the laps of the American people.

Well said

[okt0ber]

Remember when this economic crisis hit, and Congress let Bear Sterns go under, pushed a bunch of force d marriages between banks, etc.?

Then they bailed out AIG.

At the time, I thought:"That's strange. What does an insurance company have to do with this crisis?"



I just discovered that among other things, AIG INSURES THE PENSION TRUST OF THE UNITED STATES CONGRESS!!

No wonder they got bailed out right away!



It's a great feeling knowing that our lawmakers are there looking out for their best interest...

Check snopes

Actually it's because AIG insures just about EVERYTHING you see daily.

Airplanes, Airports, large corporation worker's comp, your local shopping mall... I can go on and on, but if AIG had of failed, it would have been a mess that would have cost more to clean up than what was paid to bail them out. It would have bankrupted state governments and the insurance industry as a whole....

You see, when an insurance company fails, it's up the state governments and the other insurance companies in the market to pay the claims of the policies of said insurance company that failed.

AIG pays A LOT of claims. Billions and billions of claims worldwide.

They're too big and too intertwined in the economy for just one company. Which is why the government is dismantling them... to spread the risk. Ed Liddy is an expert at dismantling and destroying companies. Do some research and check out what he did with Sears/Allstate/Dean Whitter.

[stevefoxsc]

Get off of Birds dick dude.... You may like to take it down the throat, but none of us enjoy watching.

you sound so jealous when you say that.