At this point we are just "throwing pearls before swine".  Let them (not just AIG, but all banks/companies in trouble) fail, because our portfolios are worth now zero anyway.  The fittest and strongest (banks/companies) will survive on their own and new better banks/companies will emerge (if they have the right incentives).

RAther tacky of the man to say the least

You know what? I think Republican Tennessee Sen. Corker has been waiting 57 years for the opportunity to use the term “tar baby” in a public forum in a context that he would be able to control the narrative. Well, bully for you Sen. Corker…..you finally got what you wanted.

"This amount of money that’s going into AIG, there is no upside now. This is all just like gone money."

Can’t figure out where the money went.  The banks are trying to correct so many wrong things.  This economy debt were in is deep and wide. Yes the banks are going to need more money.  Banks may have to change the way they do things or we may see some improvements.  Still I don’t think we’ll get out of this mess quickly.

As I understand it, AIG has a great international presence, and saving them is a matter of helping to save the other countries/peoples who are tied to this organization. (I wonder of those other countries are contributing to the "bail out" of this organization as well.) Gosh, I was dead set against President Obama doing any of this, but now that he is committed to righting all done wrongs, then he should get on with it and make sure whatever he does is effective!  ~~~ As far as Sen Corker is concerned, I strongly suspect he knows exactly why he chose those words. I believe that the underlying disrespect for the President of the United States is intentional and meant to encourage the same in as many others as possible. I find him and his ilk despicable and loathsome … and fear only that such casual disloyalty to our Flag, our Constitution, and other of our highest ideals will come back to bite us all in the end. He should be brought to the front of Congress and the Senate to denounce his careless and treasonous words and apologize.

I loved Uncle Remus as a kid.  But this is no time to invoke his wisdom.  And the metaphor is not altogether apt.  It’d be great if a piece of the squandered wealth got stuck to the taxpayer with each injection, and by propping up these institutions, we’re not exactly punching them in the nose.  Some reference to quicksand or pete bogs might have been more illustrative of Senator Corker’s point of view, but any way you look at, it seems to be money down the drain.

There may still be room to see the TARP as a sound speculative investment, especially given the international consequences of the alternative.  Only time will tell.

Is saving AIG even possible? We might be better off letting them fail.  I argue this point in my most recent post on my blog:  http://www.ricoexplainsitall.com/politcs-economy/2009/3/4/the-irrational…

 

 

Regardless of what Mr. Corker thinks, it is NOT alright to air his negative, slurs in public.  Excuse me… isn’t he a southerner?  And, don’tcha just betcha he knows exactly what the words mean?  And, I hope someone will nail him for it, as well.

If most of us are aware of the terminology, don’tcha just s’pose it is exactly how he intended the words to come out?

Jerk-0ff!

Mr. Corker seems to have forgotten that Br’er Rabbit escaped despite tangling with the tar baby Br’er Fox and Br’er Bear left to tempt him.