AIG Bank Bailout: Honestly...can't we just let them file Chapter 11?
Since 2005, we have seen abhorrent amounts of money in the bank bailouts. This morning, as the Dow Jones Industrial Average dropping below 7,000, we also received news, AIG reported losses of $61.7 BILLION in the fiscal quarter. $61.7 BILLION!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! I MEAN WHAT THE HELL!!!!!!!!!!!!! THESE PEOPLE DO NOT DESERVE TO BE BAILED OUT, AGAIN!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!! THESE GOVERNMENT BAILOUTS ARE PREPOSTEROUS!!!!!!!!!!!!!!!!!!! So far, AIG has received a $150 BILLION in bailout money. Now they will get an additional $30 billion. Other banks bailouts are as follows:
Bank of America - $45bn
Citigroup - $50bn
JP Morgan Chase - $25bn
These numbers are astounding but not as astounding as AIG. AIG deserves and needs to file Chapter 11. As of Dec 29th, 2000 their stock was at $98.56 a share. As of May 11th, 2007 the stock price was at $72.58. Sept. 5th, 2008 it dropped to $22.34 a share. Sept. 17th it was $2.04 a share. This year, Feb. 10th it dropped below a $1.00 Currently it's at $0.45 a share. I'm sorry but the people in charge at AIG need to be in the 8th Circle of Hell along with their buddies from Enron.
I am strongly AGAINST the bailout situation. I need some money too. Can I have a bailout? Do YOU need some money? Would you like a bailout too? My hours at work got cut. I would like out company to receive a bailout too. This is ridiculous and getting out of hand. File Chapter 11 and be done with it already, like everyone else does. Stop taking this money and having lavish parties, or squandering it on other bullshit and hookers, then ask for more money. Just sell the godamn company!