Grim times. This morning it was reported that insurance giant AIG revealed 62 billion dollars in quarterly losses:
AIG’s announcement came hours after the U.S. government announced a $30 billion lifeline for the ailing company on top of $150 billion it has already received in bailout funding.
Wall Street is already teetering on the the edge of 12-year lows after bruising selloffs Friday. (Source: CNN)
That’s absolutely abysmal, and unfortunately, failure isn’t an option here because of the reprecussions it’d pose to the larger financial market. AIGs carved itself out a huge base in the financial infrastructure, and letting it sink to its doom would only beget a shitshow the likes of which we’ve never seen.
The government is responding by giving yet another 30 billion dollar lifeline in addition to two other MASSIVE lifeline’s AIG’s received since September.
It’s kind of like when you’re in college, and you ask your parents for money to buy your books, but instead of buying books you spend all your money on booze/weed/coke. Then when your midterms roll around you realize you can’t study because you don’t have any books! So you immediatley phone up mom and pops in tears and ask for more money, but it’s semi-acceptable because you’re a kid whose family can afford to put you through college in the first place (gag).
RAD PARTY.
Economic stability is important, and there definitely is an answer– I’m just not so sure it’s in government handouts. I understand that at the moment it’s priority numero uno, but I think that the money NEEDS to come with a contract SIGNED IN BLOOD that there will be reprecussions in the future for fucking around. And not just fiscal reprecussions… I’m talking DEATH. Jk.
In other news, the Aztec calendar predicts the end of existence in 2012, Chris Breezy and RiRi got back together, and Wendy’s increased the price of their dollar menu from .99 cents to $1.19.
The end is near.
// Jeff Hardy
