At This Point, AIG Should be dissolved and it's function operated by the Federal Government

[berni_mccoy]

After reading this: http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x3792471

It's clear that AIG plans to treat the American People as adversaries.

It's time to take away this kind of power from private organizations and hand it to the people.

Everything the AIG does can be provided for through a Federal branch of the government. For those who say no or that it would cost the government too much money, I would say how much has this private organization cost the People already? I fear it's in the trillions of dollars. One thing is for sure, you wouldn't see 100s of millions of dollars going out to former workers as a 'retention bonus'. And if you did, I think you could be reassured that you could get the money back.

The time has come to end Wall Street's control over the People of the United States.

[LakeSamish706]

1. That pretty much is what is happening under Liddy... They are winding down...

various divisions of it now.

[MercutioATC]

2. I disagree.....but it should be broken up and sold to healthy companies.

No need to federalize it, just give the bits to companies that can make it work.

[berni_mccoy]

5. Privatization of this kind of insurance has already proven to be a failure. When has FDIC failed?

[Median Democrat]

3. Which Would Constitute A Default On AIG's Obligations Triggering Billions In Losses

Recievership tends to look bad on creditworthiness.

[berni_mccoy]

4. Not unless the Fed honored AIGs obligations.

[Median Democrat]

7. Depends On What The Contracts Say

You could argue that the Fed is honoring AIG's contracts, thus the receivership/default provisions do not apply, but who knows what will happen?

[valerief]

6. Off-shore it to India and China with all our other businesses! nt

[Wildewolfe]

8. Privatize it.

Spin off the derivatives unit, bankrupt it. Payback only the amount of current premiums not the policy amounts. Write a bailout bill that honors the policy amounts for deriviatives where the policy holder actually has ownership standing (i.e. a real insurance policy and not a gambling chit) and you're done.

[amborin]

9. NO---it's only the LOndon office causing trouble, the rest is OK

[berni_mccoy]

10. LOL, right. Where did all that bonus money go?