Are you guys hunkering down money wise?

[LMTC]

Unintended consequences. Hmmm. If I go down that road the thread will get closed or my post deleted.

Later,
Dan

Ahh, but since you already know that would happen, going down the road of unintended consequences would then, for you, yield an intended, or at least forseeable, consequence. Allow me this caveat....the following is not political, but rather commentary on general human behavior. Most of us who haunt these forums know that most of those (I say most, as there is always some authority in every situation, often simply by default. For example, forum moderators have authority here by default, thought I doubt most of them actually sought that authority) who hold power (in any arena) do not think like most of us.....as most of us wouldn't even SEEK power. We just want to live our lives unmolested by regulation beyond that which is essential, and allowing the same to others. In general, those inclined to seek power (and thus get it) aren't concerned with unintended consequences, but rather with immediate consequences generally designed to maintain their power. Thus their behavior is generally guided by a completely different paradigm than the one we choose to live by.

 

[turbo36]

I don't see in the link that Greenburg setup CSDs. On the other hand the article does mentions J. Cassano who was a part of the CSDs. But I have also read that CSDs were not part of AIG's problem per say but the investment in the housing market that got AIG in trouble. And this was done well after Greenburg was gone.

I am not misguided. I might misread. I am just repeating what the WSJ is saying.

What is the truth? I will be danged if I know. But I would not be surprise if anyone knows.

But where does one see this level of coverage in the media? On the local news? ABC? The WSJ has been covering what has been going on AIG for YEARS with in depth articles that span muliple pages and many columns. The Wikipedia link might get close in size to one WSJ article on AIG. AIG just popped up on/in the major media AFTER the train wreck had happened.

Later,
Dan

Dan, a little more reading into the AIG Credit Default exposure.

7 Surprises Buried Beneath the AIG Bonuses - Rick Newman (usnews.com)

 

[Dargo]

I commend you on your sense of social responsibility. But what federal taxes have gone up? We run a business here, it's down, but I haven't seen any increase in taxes. Maybe some are on the way, but nothing yet. I haven't had to pay one penny more. God Bless!

I count the removal of deductions as tax increases, because that is what they are. Also, my accountant and attorneys have assured me that I will have actual tax increases from the man who promises that I will only have 'change' in my bank account. When something is imminent, I must be proactive rather than reactive. I'm in groups with other business owners and they are in the same situation. As soon as taxes go up unemployment will also go up. Does anyone honestly expect a business owner to take home less income due to ignorant tax increases after they've spent a lifetime building their businesses?! Absolutely not. They have to cut costs. In most businesses payroll is the most expensive cost. I'm sure you've read about mass layoffs in the huge companies. This is also happening with smaller businesses as tax increases are on the way. As I said earlier, I'll be okay, but I'll be darned if I'm going to make less money to fund ignorant government giveaway programs. I don't want to, but I'll have to put more people on the unemployment rolls.

 

[Patriotic Stabilist]

The problem is however, our country owes tons of money already before all this. In reality there should have never been tax cuts when bush came in. The country was ok, noone really noticed a difference and the spending just went nuts.

I'm very concerned about the spending now, but I would rather pay as we go even it it means more taxes paid. It's just like home, you pare back if you can't afford to pay your bills. We have worked for 10 years making our old house energy efficient and I cut back on things knowing when hubby retires we will have less to spend so we just never got used to it. Restraint is not only necessary by governments but by households.

I'm not so worried about deflation, I'm worried about inflation. If China quits buying our debt, you ain't seen nothin' yet. We are no longer the masters of our fate, we have put it in the hands of others. My fear is as China grows and gets bigger they will become the one to fear instead of Russia. They are growing their army and navy and have the potential of millions and millions they could add. I think we will need to watch out for them.