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-   Politics (http://cellar.org/forumdisplay.php?f=5)
-   -   AIG (http://cellar.org/showthread.php?t=19677)

tw 03-24-2009 08:47 AM
Quote:
Originally Posted by classicman (Post 548640)
Did I miss anything?
Nope. You still posted nothing about AIG and again took cheap shots at Obama. You are consistent.

depmats 03-24-2009 10:30 AM
Allow me to sum up the last eight years:
Quote:
Nope. I still posted nothing about the topic at hand and again took cheap shots at Bush. I am consistent.

xoxoxoBruce 03-24-2009 10:39 AM
Quote:
Originally Posted by sugarpop (Post 548838)
... And why has SO MUCH of the money WE gave to AIG gone to foreign banks? Shouldn't foreign countries be bailing out their own banks?
Probably because they are like dominos. The whole world of finance is literally world, and if the foreign banks go down, so do we.

lookout123 03-24-2009 10:53 AM
And it might just be that some of the best investments out there are banks. Does anyone believe all of the banks will fold? I don't. I see a lot of financial stocks that have been absolutely crushed to the point they are worth less than even their intrinsic value. I wouldn't mind buying a company stock that once reached $60 and is currently <$3. if it will recover even half of what it was then I'm a huge winner.

classicman 03-24-2009 11:36 AM
Quote:
Originally Posted by tw (Post 548926)
You are consistent.
Yes I am consistent. I have posted plenty both pro and con about Obama. I have posted more variety and relevance than your same old tired, boorish, condescending rant. I can't even say rants anymore since they've blended into one long waste of space.

TheMercenary 03-24-2009 12:05 PM
Quote:
Originally Posted by sugarpop (Post 548832)
What? You think Michelle Malkin is actually unbiased? :rolleyes:
What news commentator is unbiased to some degree? Remember these people are not reporters, they are commentators.

TheMercenary 03-24-2009 12:06 PM
Quote:
Originally Posted by lookout123 (Post 548986)
And it might just be that some of the best investments out there are banks. Does anyone believe all of the banks will fold? I don't. I see a lot of financial stocks that have been absolutely crushed to the point they are worth less than even their intrinsic value. I wouldn't mind buying a company stock that once reached $60 and is currently <$3. if it will recover even half of what it was then I'm a huge winner.
I have a few friends who are doing that with some banks here in GA. I think it is to risky.

lookout123 03-24-2009 12:07 PM
It depends on what amount they're investing. 10% of their net worth? too much. 1% of their networth? no problem.

TheMercenary 03-24-2009 12:14 PM
Good point. I don't know what their details are. I just sounded risky because of the number of banks being taken over by the feds.

lookout123 03-24-2009 12:19 PM
Nobody knows where it will end but technically the feds aren't taking them over, they're buying shares. Hopefully they will sell the shares in the future and allow share price to move entirely with the demands of the market. Sometimes those flyers pay off.

TheMercenary 03-24-2009 12:23 PM
Quote:
SAN FRANCISCO -- Commerce, Ga.-based Freedom Bank of Georgia was closed by regulators Friday, marking the 17th bank failure of the year, the Federal Deposit Insurance Corporation said in a statement. Lavonia-based Northeast Georgia Bank has assumed all of the failed bank's deposits, the FDIC said. As of March 4, Freedom Bank of Georgia had roughly $173 million in assets and $161 million in deposits. The FDIC estimated the cost of Freedom Bank's failure to its deposit insurance fund will be $36.2 million.
http://www.foxbusiness.com/story/mar...ed-th-failure/

classicman 03-24-2009 12:37 PM
Quote:
Freedom Bank of Georgia had roughly
$173 million in assets and
$161 million in deposits.
The FDIC estimated the cost of Freedom Bank's failure to its deposit insurance fund will be $36.2 million.
What were the liabilities?? That info seems strange - no?

lookout123 03-24-2009 12:39 PM
many of the assets are probably foreclosed homes. those have outstanding debt showing in the liability column which isn't shown there.

TheMercenary 03-24-2009 12:42 PM
Well there are a bunch of links to this bank news, I didn't go through more than a few. I posted it as an example of, I believe, the third bank in GA to be taken over.

lookout123 03-24-2009 12:45 PM
normally banks pulled in by FDIC are sold off to bigger better banks, but I think we'll have to wait for the dust to settle before that happens.


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