Fed takes over AIG • Hacker News Board

Re: Fed takes over AIG

#21

Post by jmatt » Wed, Sep 17, 2008, 12:50 AM UTC

What harm is there in letting a company that made bad decisions go bankrupt? I don't see how it's pragmatic to pass this burden on to tax payers and the general public. I admit that I am idealistic about such things. I don't see how government is going to solve any of these problems. The government will lessen the pain but that same behavior will also slow any rebound and future growth.

It seems naive and narrow minded to think another company won't step in if there is a continued need for the services that AIG provide{d|s}. This new company is likely to make better decisions. First, because they saw AIG fail. Second, because they didn't fail and thus were stable enough to exist while other giant financial companies failed.

Re: Fed takes over AIG

#22

Post by wenbert » Wed, Sep 17, 2008, 12:51 AM UTC

god! this will affect the economy here in the philippines -- an the rest of asia. makes me sad :(

Re: Fed takes over AIG

#23

Post by netcan » Wed, Sep 17, 2008, 12:55 AM UTC

jmatt wrote: post #21

What harm is there in letting a company that made bad decisions go bankrupt? I don't see how it's pragmatic to pass this burden on to tax payers and the general public. I admit that I am idealistic about such things. I don't see how government is going to solve any of these problems. The government will lessen the pain but that same behavior will also slow any rebound and future growth. It seems naive and narrow mind…

In the long run we're all dead.

Re: Fed takes over AIG

#24

Post by fallentimes » Wed, Sep 17, 2008, 12:59 AM UTC

Serious question that is actually very related: if you had to move to a foreign country and work on your internet start up, where would you move? Why?

Re: Fed takes over AIG

#25

Post by sd » Wed, Sep 17, 2008, 12:59 AM UTC

yamil wrote: post #5

Welcome to socialist states of America

Obviously, it's impossible to determine the effect of any one action on the economy -- but if this $85b prevents the markets from crashing, I'd argue its money well "spent." U.S. market cap has already fallen $4t in the past year. Do you really want to risk losing considerably more?

Re: Fed takes over AIG

#26

Post by sabat » Wed, Sep 17, 2008, 1:01 AM UTC

yummyfajitas wrote: post #19

nickb wrote: post #13

Earlier quoted context omitted.

Partially correct. It's socialism for the rich. If it were socialism, you wouldn't have poor/middle-class people dying from treatable diseases.

What treatable diseases are poor/middle-class people dying of, that could be prevented by socialism?

Cancer. Diabetes. Yadda yadda.

Do you know how many people are not insured and cannot afford insurance? ("Go to the emergency room" is not a health plan.)

Do you know how many people with serious illnesses are turned down by their own insurance companies every year?

I'm not saying socialism is an automatic answer, but it'd better than this mess.

Re: Fed takes over AIG

#27

Post by Alex3917 » Wed, Sep 17, 2008, 1:03 AM UTC

yummyfajitas wrote: post #19

nickb wrote: post #13

Earlier quoted context omitted.

Partially correct. It's socialism for the rich. If it were socialism, you wouldn't have poor/middle-class people dying from treatable diseases.

What treatable diseases are poor/middle-class people dying of, that could be prevented by socialism?

People without access to medical treatment are more likely to die from any disease that can be treated.

Re: Fed takes over AIG

#28

Post by ojbyrne » Wed, Sep 17, 2008, 1:05 AM UTC

sd wrote: post #25

yamil wrote: post #5

Welcome to socialist states of America

Obviously, it's impossible to determine the effect of any one action on the economy -- but if this $85b prevents the markets from crashing, I'd argue its money well "spent." U.S. market cap has already fallen $4t in the past year. Do you really want to risk losing considerably more?

That was the argument for Fanny and Freddie. Didn't seem to work, and I bet it won't this time. WAMU is next.

Re: Fed takes over AIG

#29

Post by krschultz » Wed, Sep 17, 2008, 1:12 AM UTC

fallentimes wrote: post #24

Serious question that is actually very related: if you had to move to a foreign country and work on your internet start up, where would you move? Why?

New Zealand - why - because it is gorgeous. Don't know if it is any good for business though.

Re: Fed takes over AIG

#30

Post by olefoo » Wed, Sep 17, 2008, 1:12 AM UTC

yummyfajitas wrote: post #19

nickb wrote: post #13

Earlier quoted context omitted.

Partially correct. It's socialism for the rich. If it were socialism, you wouldn't have poor/middle-class people dying from treatable diseases.

What treatable diseases are poor/middle-class people dying of, that could be prevented by socialism?

The flu, diabetes, cancer.

Now for the first one, there is a clear and self-interested argument for public health measures that even the most laissez faire libertarian could get behind. Namely, that the prevalence of flu amongst the lower classes means that you and your precious sprogeny are more likely to die of it.

For the other two we have to rely on those outmoded and declassé ideals about compassion and bettering the human condition, and the tediously earnest argument that the less suffering there is in a society, the better off everyone in that society is...

But, really who cares; I mean you've got yours, or you are on the way to getting yours and the rest of the human race is of no concern to you other than as service providers or as customers right?