Thursday, September 18, 2008
AIG and the Rest of the Failing Economy
Although the DOW JONES closed +410.03 today making up for the loss yesterday, the government support of AIG does not seem responsible for this. AIG's stock is still very low, at only $2.69 a share. Was this government bail out worth it, or does it show more blind spending by the government? Also, which party do you feel benefits from this?
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3 comments:
Was the Bailout of AIG worth it? I think so for two reasons. One is that AIG is an international insurance company and it would be an international problem plus all those people who work for AIG would be out work. Second and most important is that since the dow just went up 400 points it has restored some bit of confidence to investers to invest in companies.
I agree with Howard. Big week for Obama. That being said, I'm not so sure this week was a good one for the American taxpayer. The estimated costs of bailing out these banks is a whopping 1 trillion dollars. That's $7000 for every living American. On some level, they need to take responsibility for their faulty investments and practices.
Obama most definitely benefits! He addressed the issue unlike McCain who tried changing subjects. HL continues to say that the media is affecting what the American people think, and although part of that is true, part of that is also false. If this year was not an election year, would the American people still receive a "liberal" point of view? They would only hear the facts, which is what they're getting now. It's just that the candidates are now involved, but if they weren't there would be the same type of news coverage.
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