AIG - Another Ponzi Scheme? - A tangled web of corporate intrigue

Very interesting.  And why wasn't this known when they were being thrown the financial lifering?  Others were allowed to fail - was it politics?  Hmmm. 

If we had allowed AIG to fail then Goldman Sachs would have lost billions, and they are too closely connected to allow that to happen. Read the Rolling Stone article, The Great American Bubble Machine, and Vanity Fair's article, The Man Who Crashed the World.

Stewart,

While AIG certainly appears very vulnerable, they are not the only financial institution.

Both BofA and Citi look like they are on thin ice as well.  Had it not been for government loan guarantees, favorable tax treatment, and free money, they might not be here.

Well...very interesting indeed.    Love your graphic!

And they are giving bonuses to boot.  I'm not wanting to bail them out again.  Let them fail

We the public really know nothing except various companies were given huge amounts of our money by a government largely controlled by the recipients. 

The only way our American government will ever become a "government of the people, by the people" is to have publically funded elections.

Stewart- It's funny how we never hear about the worlds largest Ponzi Scheme...and it's also governement sanctioned...Social Security. It's an even more clear example of a Ponzi Scheme than AIG.

Stewart, nothing surprises me anymore.  Reinsurance is one of the reasons insurance companies can do business here in FL.  But, even after having worked in the insurance industry, I still can't figure out why.  It seems the insurers are not willing to take on the risk, that people pay them premiums for, so they pay another insurance company to take that risk.  Now those companies are complaining.  Pretty soon we'll have reiunsurance for the reinsurance. 

Mike, one day you may NEED SS, then I imagine you will be singing a different song.  But that aside,there are thousands, if not millions of old people in this country, just like your grandma, who could not survive without it.  I assume letting them live on the streets and scrounging for food, like they did before SS, is preferable to you.

Terry- you miss the point as usual with SS. The point is it's a totally unsustainable program. All Ponzi schemes eventually fail...ALL. This is one that has only survived because the government has continually sold more debt to support it. It cannot sustain...

That being said- there are obviously people in this country that need some form of support. I dont know of anyone- no matter the party affiliation- that says we should let people starve. But there are better programs out there that take advantage of the free market forces. But the government cannot continue to devalue our country...

I'm with Mike. S.S. was a great idea at the time... the problem is always how to put the peas back in the can once spilled. There are way too many people now addicted to the society machine and can not withdraw... a long weening process is the only way out. The way things are set up now... not going to happen. Not if, but when these large "ponzi scheme" companies fail, that will be the opportunity to make the changes necessary to survive as the USA. Until then... enjoy this roller coaster legal ponzi scheme ride our elected officials over a long period of time (both parties guilty) have installed. This could go on a long time yet... hang on.

One example in our area of the poor being fed and is always under fire... our local Water Street Ministries. More of these programs... tax exempt and privately funded are thriving and doing a wonderful job of taking people down and out, feeling worthless, and re-establishing them into society as useful and contributing lives. Private sector works. Blessings.