bail me out too.

[Guest jackdog]

Well okay. Paulson ,bush and company preached the tactics of fear that we had to act swiftly to save the economy. The bill passed on friday. But wait it is monday the new speech by buda says wait take it slow we have to get this thing right. So why the F&*k did these folks not do this last week when the sky was falling. Answer because they wanted the bucks. Now they have to take thier time to make sure that they really screw us over.

[Guest Honest AK]

http://www.npr.org/templates/story/story.php?storyId=95441525

Tapping Contractors To Administer Program

The Treasury is expected to hire a skeleton crew of about two dozen asset managers and will most likely farm out the bulk of the program to a half-dozen to a dozen asset management companies. Those firms haven't been formally chosen yet, although the Treasury announced on Monday that firms that were interested needed to bid on the program by Oct. 8. The winners will be announced on Oct. 11, the Treasury said.

As the Treasury envisions it, those asset management companies will get some portion of the first $250 million of the $700 billion program. In return for managing the program, the companies will get some percentage, though it's not yet clear how much.

It would be interesting to see how many of the bailout bucks end up as compensation for these asset managers and their companies. Not that we'd ever get a straight answer if we asked.

"Also unclear is how the Treasury will deal with conflicts of interest. If fund managers are working for both their own clients and taxpayers, how will they be able to balance those priorities? Paulson has said he is aware of the problem and will find a fix for it."

...sure...

[Guest jackdog]

oh yeah I really trust Paulson. NOT

[Guest jackdog]

update: the fed gave AIG another 38 billion. Guess they need the money for more corporate outings at 500,000 grand a pop. This bail out is going to never end until the government files for bankruptcy

[Guest Honest AK]

As soon as I saw that article, I thought "I bet JD is already talking about it in his thread".

I guess AIG needed the money so they could continue being the main sponsor of the world's most valuable sports franchise, Manchester United.

"The Manchester United sponsor signed a four-year £56.5 million agreement with the football club in 2006 - the biggest shirt sponsorship deal in English football. Manchester United said it was "in close contact" with AIG, but declined to comment further."

http://ukpress.google.com/article/ALeqM5i5xC_HMGnyTL4Uh1p3G0oC5nGhRw

[Guest Honest AK]

http://www.cnn.com/2008/US/10/13/economy.violence.ap/index.html?eref=rss_topstories

• With nowhere else to turn, some people are calling suicide-prevention hot lines
  
• Counseling services are in high demand and domestic-violence shelters are full
  
• Worries mount after a string of financially related violent incidents across U.S.
  
• Texas psychologist says current crisis breeding a sense of chronic anxiety
  

• In Tennessee, a woman fatally shot herself last week as sheriff's deputies went to evict her from her foreclosed home. Pamela Ross, 57, and her husband were fighting foreclosure on their home when sheriff's deputies in Sevierville came to serve an eviction notice. They were across the street when they heard a gunshot and found Ross dead from a wound to the chest. The case was even more tragic because the couple had recently been granted an extra 10 days to appeal.

[Guest jackdog]

Update: The 800 billion dollar bail out is now over 2.5 trillion dollars and the market is still like shootin craps in Vegas. Side note AIG had four execs with their guests go through 86,000 dollars on a partridge hunt in England over the weekend. The Government should take back every dime of tax payer dolars that these bastards have been given .