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AIG Fallout Begins : “Dear AIG – I Quit!” March 25, 2009

Posted by aetiusromulous in Economics, news, politics, Video, YouTube.
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The Obvious and Inevitable Begins

What do people do who have the weight of the world on their shoulders, are not paid, are threatened with death by piano wire, taxed at 90%, have limits put on their income, and suffer endless bus tours of their private residences filled with people that hate them?

Why they quit and go to democratic nations with free markets of course. Duh.

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AIG : In Defence of Fallen Heroes March 24, 2009

Posted by aetiusromulous in news, politics, Video, YouTube.
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Americans Fiddle, While America Burns.

Here’s the thing.

The American financial system has been doing this sort of thing since its inception. There were a few collapses along its 125-year history, and once in a while regulation was imposed as a reaction to events. Once the crisis receded from memory, regulation was relaxed and off it all went again. De-regulation is the status quo, the natural state of the Wall Street mojo. Regulation free cowboy finance built America…for whatever that is worth.


While the big guns of Wall Street were shooting up the corral, the lifestyle of the average American rose in their wake. Financial shenanigans fuelled the great consumer society. Absolutely no homeowner in America was calling for anybodies head when the value of their own main asset was riding the wave along with them. These guys were heroes and it is with no small irony these “contracts” were signed back in those, good old days.

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AIG Debacle : Mistrust and Anger Derail Hope of Salvation March 22, 2009

Posted by aetiusromulous in Economics, news, politics, Video, YouTube.
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America Fiddles While Rome Burns

Underneath the thin vernier of populism, banking system melts away.

Careful what you wish for….

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AIG : US Congress Approved Bonuses During Meltdown March 18, 2009

Posted by aetiusromulous in Economics, news, politics, Video, YouTube.
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The Plot Thickens…

Shepard Smith of Fox News brilliantly picks apart American Congressional crocodile rage.

Will the mob shoot the wrong people? Again?

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AIG CEO Edward Liddy : An American Hero March 18, 2009

Posted by aetiusromulous in Economics, news, politics, Video, YouTube.
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Really ! He Is, Honestly

It may not be a WWII battle field, but the economic catastrophe that is AIG will certainly yield similar results.

Edward Liddy accepted the Generalship of the mess without any kind of pay or compensation, and after the bad guys had breached the walls. Patton he is not, but he deserves the same respect. And he deserves to be listened too.

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AIG : Outrage Grows Over The Impossible to Understand March 16, 2009

Posted by aetiusromulous in Economics, news, politics, Video, YouTube.
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Public Weighs In on Infinite Complexity

 AIG is an insurance company. Insurance companies are among the oldest of financial institutions, and they make scads of money by understanding the risks they take balancing premiums against potential payouts. They have become very good at it over the centuries, and a good insurance company makes a whole lot of money. AIG is a good insurance company with over 78 million policies to its credit.

AIG, it turns out, may not have been a great investment company, but after all, good investment company has become somewhat an oxymoron of late. Be that as it may, it turns out that a very small, very discreet group of mega sophisticated AIG employees – about 375 in total – with virtually no understanding of the company’s core business (insurance), went rogue with the companies considerable assets and dove headlong into the weird and wooly world of finance derivatives. And the rest, as they say, is history.

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Meltdown : Or How I Learned to Stop Worrying and Embrace The Debt March 8, 2009

Posted by aetiusromulous in Commentary, Economics, news, politics.
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ar-logo1America is in debt because it wants to be. Unlike any other country in the world, America has believed for a generation that its Debt was the fountainhead of its power, the source of its wealth and excess. America has deliberately and with full intent run deficits and financed them through debt, a veritable ATM of cash with which it buys its Economic Hegemony, and makes payments on its future. It’s hard to solve a problem that isn’t one, to the blind that will not see.    

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Bank Nationalization: A Done Deal Waiting to be Done March 2, 2009

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Banking System Insolvent

Capitalist sytem insolvent

Dead men walking

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AIG : 76 Million Worthless Insurance Policies March 2, 2009

Posted by aetiusromulous in news, politics, Video, YouTube.
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Fake Insurance For Fake Profits

Only a scam when things go bad

And things are 65 Billion bad

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789 Billion Cubic Dollars Of Panic February 17, 2009

Posted by aetiusromulous in Commentary, news, politics, Screeds.
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Aetius Romulous:

Editors Screed

 

The Undisputed Champion of the World

The Undisputed Champion of the World

It’s here, and for better or worse, the American “Economic Stimulus Package” will soon be gushing out from Washington, barrelling down gutters, and spilling over the dry, parched, and broken lawns of suburbia. 789 Billion imperial gallons of Change, metric tonnes of Hope, cubic dollars of panic. One great and final shot before the economic meteor shatters the American Way.

Like a legion of Dr. Strangelove’s – huddled around monitors in bunkers of ivory, glass, and internet – Economists have emerged and formed up ranks to debate the outcome be it hit, miss, or spare. But economics is a young pursuit, its myths and hero’s not much older than America itself, both siblings of an age of social upheaval and economic revolution. Economic theory, like the only world we know, is still a malleable, unfinished science. The sad and miserable fact of economic thought being simply…that nobody really knows, and the depth of head scratching really depends on which team of economic thought one plays for.

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