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Yet Another Bailout!!

Posted by on Apr. 8, 2009 at 1:34 PM
  • 19 Replies

 

Will it ever end? Life insurance companies will join banks and the auto industry as the third group to receive a bailout, the Wall Street Journal reports. Insurers that own federally chartered banks will be eligible for a piece of the Troubled Asset Relief program's remaining $130 billion, although it's unclear how much the industry will receive as a whole. The investment portions of life insurance policies are what's caused the problems: many insurers made aggressive promises to consumers who purchased variable-annuities and guaranteed minimum returns and many insurers backed their policies with portfolios that included residential mortgage and commercial real estate assets. If large numbers of Americans redeemed their policies, life insurance companies would face a cash crunch and could cause markets to tumble by selling off holdings to cover their losses.

 
How do you feel about this??
by on Apr. 8, 2009 at 1:34 PM
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Replies (1-10):
tgiamt
by Member on Apr. 8, 2009 at 1:37 PM
So they arent even really in trouble and we're bailing them out?
T.G.I.A.M.T.. Get yours at bighugelabs.com/flickr
spoiled_wife
by Member on Apr. 8, 2009 at 1:43 PM

The Pandora's Box of bailouts was started post 9/11..

The first bailouts went to the airline industry.. That opened the doors to all these other bailouts.. Since our government has set a precedent..  Any industry can  approach for a bailout now.. And many more most likely will as our current economic spiral continues.

Not only did the original airline bailouts start the bailout mess..

There was also another precedent set during the airline bailouts. And that was that this. Originally there were laws that proctected retiree benefits that were given by industries/corporations.. During the airline bailouts, the airlines used their retiree's pensions/benies as one of the issues that was causing them to loose monty. So the government changed the law and now a corporation can right  a portion (if not all) of retiree pensions/benies during a bankruptcy............................

And now another corporation, GM, is are looking at doing just that as part of their bankruptcy..

(((shakes head)) Bad bad precedents have been set by our government and I'm not seeing an end in sight yet.

                                               

spoiled_wife
by Member on Apr. 8, 2009 at 3:16 PM

This toon made me think of this post............

                                               

Eilish
by on Apr. 8, 2009 at 4:01 PM

HEY! You Socialists should be jumping for joy! The government is buying more private enterprise in order to take control! I thought you loved socialism?! Oh that's right, you thought socialism meant that the government would bail you out and not corporations .... damn! Maybe you should've listened to us sooner.

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SophiaofLight
by Member on Apr. 8, 2009 at 5:43 PM

This is just crazy, at the rate we are bailing out companies, most of whom don't deserve it, we will bankrupt soon.  

kc932
by Member on Apr. 8, 2009 at 5:48 PM

When am I going to get my Bailout????????

red_carpet-2.gif picture by straightupmama

The Problem With Socialism Is That You Eventually Run Out Of Everybody Else's Money

Da1nOnlyDestiny
by Bronze Member on Apr. 8, 2009 at 6:05 PM

you know i hate to say this but your smart ass remarks is why people don't take you seriously. Oh but that's right you don't give a damn yet you are always on the blow horn about COME ON PEOPLE WAKE UP! So you are all about "reaching out" yet talking down to those who don't agree with you will help you wake them up yes? Right. I can see eye to eye with you on MOST of what you speak and I am always up to hearing different sides of the table but damn don't expect people to pay you any attention in a positive way when you speak like this.

Quoting Eilish:

HEY! You Socialists should be jumping for joy! The government is buying more private enterprise in order to take control! I thought you loved socialism?! Oh that's right, you thought socialism meant that the government would bail you out and not corporations .... damn! Maybe you should've listened to us sooner.



                                                                

         

Eilish
by on Apr. 8, 2009 at 6:10 PM

I'm sorry you don't like my saracsm .... but I am entitled to it. And aside from the sarcasm ....


shh.... There's truth in what I say ....

Quoting Da1nOnlyDestiny:

you know i hate to say this but your smart ass remarks is why people don't take you seriously. Oh but that's right you don't give a damn yet you are always on the blow horn about COME ON PEOPLE WAKE UP! So you are all about "reaching out" yet talking down to those who don't agree with you will help you wake them up yes? Right. I can see eye to eye with you on MOST of what you speak and I am always up to hearing different sides of the table but damn don't expect people to pay you any attention in a positive way when you speak like this.

Quoting Eilish:

HEY! You Socialists should be jumping for joy! The government is buying more private enterprise in order to take control! I thought you loved socialism?! Oh that's right, you thought socialism meant that the government would bail you out and not corporations .... damn! Maybe you should've listened to us sooner.



  • Help keep an eye on what Congress is doing. Stay informed and spread


    the message by posting Bills that need the People's attention - either


    positive or negative. This forum is open to ALL Cafemom Members.
Eilish
by on Apr. 8, 2009 at 6:11 PM

I should probably correct myself by calling it cynicism rather than sarcasm.

Quoting Eilish:

I'm sorry you don't like my saracsm .... but I am entitled to it. And aside from the sarcasm ....


shh.... There's truth in what I say ....

Quoting Da1nOnlyDestiny:

you know i hate to say this but your smart ass remarks is why people don't take you seriously. Oh but that's right you don't give a damn yet you are always on the blow horn about COME ON PEOPLE WAKE UP! So you are all about "reaching out" yet talking down to those who don't agree with you will help you wake them up yes? Right. I can see eye to eye with you on MOST of what you speak and I am always up to hearing different sides of the table but damn don't expect people to pay you any attention in a positive way when you speak like this.

Quoting Eilish:

HEY! You Socialists should be jumping for joy! The government is buying more private enterprise in order to take control! I thought you loved socialism?! Oh that's right, you thought socialism meant that the government would bail you out and not corporations .... damn! Maybe you should've listened to us sooner.




  • Help keep an eye on what Congress is doing. Stay informed and spread


    the message by posting Bills that need the People's attention - either


    positive or negative. This forum is open to ALL Cafemom Members.
Da1nOnlyDestiny
by Bronze Member on Apr. 8, 2009 at 6:13 PM

its not that i dont like (cause i truely dont give a crap) but i just observe people on this board and you of course being as active as you are stand out. however, as much as there may be truth to your statements; I would hate to see someone who is highly educated as yourself come across as ignorant and crude. This is the problem with a lot of people not just you that I see wandering cm. You scream to make a point but when others don't jump to your side you turn to sarcasm and degradation. Which still ends in the same result.

Quoting Eilish:

I'm sorry you don't like my saracsm .... but I am entitled to it. And aside from the sarcasm ....


shh.... There's truth in what I say ....

Quoting Da1nOnlyDestiny:

you know i hate to say this but your smart ass remarks is why people don't take you seriously. Oh but that's right you don't give a damn yet you are always on the blow horn about COME ON PEOPLE WAKE UP! So you are all about "reaching out" yet talking down to those who don't agree with you will help you wake them up yes? Right. I can see eye to eye with you on MOST of what you speak and I am always up to hearing different sides of the table but damn don't expect people to pay you any attention in a positive way when you speak like this.

Quoting Eilish:

HEY! You Socialists should be jumping for joy! The government is buying more private enterprise in order to take control! I thought you loved socialism?! Oh that's right, you thought socialism meant that the government would bail you out and not corporations .... damn! Maybe you should've listened to us sooner.




                                                                

         

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