Omowale Jabali : BAILOUT OR BLACKOUT?

Discussion in 'Omowale Jabali' started by Omowale Jabali, Oct 2, 2008.

?

Who will benefit most?

Poll closed Apr 24, 2012.
  1. Black people

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  2. White people

    4 vote(s)
    100.0%
  3. Non-white people

    0 vote(s)
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  4. Others

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  1. Omowale Jabali

    Omowale Jabali The Cosmic Journeyman PREMIUM MEMBER

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    QUESTION: Who will benefit most from the proposed $700 billion "bailout" as proposed by the U.S. Senate and the Bush Administration?
     
  2. Omowale Jabali

    Omowale Jabali The Cosmic Journeyman PREMIUM MEMBER

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  3. Monetary

    Monetary going above and beyond PREMIUM MEMBER

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    very interesting question....

    I will come back later tonight and answer this question in more depth. Or, at least, I will be able to give a better explanation of my answer to this question than I can right now. lol
     
  4. Monetary

    Monetary going above and beyond PREMIUM MEMBER

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    Omowalejabali,

    Buffett also spent $5 billion or so of his own money to acquire assets in GE that will pay off handsomely for him. That's why his company's stock price has risen.
     
  5. Omowale Jabali

    Omowale Jabali The Cosmic Journeyman PREMIUM MEMBER

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  6. SeekingMaat

    SeekingMaat Well-Known Member MEMBER

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    Deaf, Dumb and Blind ...

    Bro Omo, I'm sure you saw this, but they are taking people for sheer fools !!!



    http://www.foxbusiness.com/story/markets/industries/finance/aig-executives-blow--getting-bailout/
    AIG Executives Blow $440,000 After Getting Bailout


    If you'd just gotten a government bailout, you might be tempted to hold a retreat at a nice California hotel -- and that's exactly what American International Group (AIG: 2.77, -0.42, -13.16%) employees did.

    The committee on Oversight and Government Reform held a hearing on Tuesday at 10:00 a.m. Eastern time. to address and examine downfall of AIG, the world’s largest insurance company. The committee planned to discuss the financial excesses and regulatory mistakes that led to AIG’s government bailout.

    One of the items discussed was AIG’s expenditure of $440,000 for a corporate retreat at the St. Regis Monarch Beach resort in Dana Point, Calif., about midway between Los Angeles and San Diego. These funds were spent on Sept. 22, a week after the Federal Reserve extended an $85 billion emergency loan to AIG to keep it from going bankrupt due to insurance liabilities.

    Click here to see the full hotel bill

    According to the receipt from the St. Regis, the eight-day company retreat was a lavish one -- $139,000 was spent on hotel rooms, while even more money -- $147,301 -- was spent on banquets. Another $23,380 was spent on undisclosed spa treatments and another $6,939 was spent on golf. A full $9,980 was spent on room service and food and cocktails at the hotel lounge.

    AIG issued a statement saying that "This type of gathering is standard practice in the industry and was planned a year advance of the Federal Reserve's loan to AIG. We recognize, however, that even activities that have long been considered standard practice may be perceived negatively. As a result, we are reevaluating various aspects of our operations in light of the new times in which we operate."

    According to the statement, the event was held by one of AIG’s insurance subsidiaries, not AIG employees. The attendees were independent life insurance agents who were "top business producers" for AIG. Only about 10% of the attendees were AIG American General employees, and no corporate executives from AIG headquarters attended the meeting, according to the statement.

    But the question still remains, couldn't these "independent" life insurance agents have scaled their activities back a bit in light of the company's bailout?

    The St. Regis Monarch Beach resort is described on its Web site as “a landmark resort of legendary proportions.”

    Legendary, indeed.


    :SuN025:
     
  7. Omowale Jabali

    Omowale Jabali The Cosmic Journeyman PREMIUM MEMBER

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    "The people" are fools. Yanno after posting this I later was watching CNN and it reported the story you posted AFTER flashing across the screen that the Fed GRANTED AIG the second bailout earlier today but the financial news did not say this openly.

    One more thing. I also found this morning that the guy who is supposed to be doing "oversight" (another word for Overseer) is another Goldman Sachs "executive". Meanwhile I'm watching the DOW hit 8700 territory.
     
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