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AIG, AIG, AIG, AGGGGGHHHHHH

September 17, 2008 11:56 AM

At a time when Sen. Barack Obama is trying to project expertise and instill confidence in his potential stewardship of the economy, his campaign this morning sent out his statement on the Fed's bailout of the AIG where it misidentified the American International Group, calling it the "American Insurance Group."

- jpt

September 17, 2008 | Permalink | Share | User Comments (65)

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only in republican land can you criticize a community organize and hail a corrupt in experienced mayor as someone who will reform washington

Posted by: Bhrandon | Sep 17, 2008 1:54:41 PM

thank god mccain and palin are out there ready to reform wall street and washington


but we dont know how they are going to do it, if its anything like thsi bridge or the airplane, or any number of economic statments from mccain in the last few days

im going to have to tell them

thanks but not thanks

Posted by: Bhrandon | Sep 17, 2008 1:53:02 PM

sara palin can see russia from her house!

Posted by: Bhrandon | Sep 17, 2008 1:51:57 PM

i guess we should be jumping up and down saying gotcha to the mccain camp after not saying sicp correctly and not knowing how to spell bare sterns or fannie mae

or how he was against aig bailout yesterday but today is for it

Posted by: Bhrandon | Sep 17, 2008 1:51:41 PM

The critics point to a 1999 study by the General Accounting Office, the investigative arm of Congress, which found that low earners tended to fare worse under the Galveston plan than under social security. It also found that people did better with social security if they lived longer, because the federal system is indexed to inflation. The private plan is not.

Posted by: Privatization is Bad | Sep 17, 2008 1:50:01 PM

Unfortunately for you Dems, the biggest gaf was nominating this unqualified community agitator in the first place!!! I'd rather deal w/ Clinton if I had to deal w/ a Lib - at least she's somewhat reasonable!

Posted by: D'Obama | Sep 17, 2008 1:37:56 PM

Obama: The Wizard of Uh's

Mistakes even with the teleprompter.

Posted by: harry | Sep 17, 2008 1:34:54 PM

Can you imagine the uproar if Sarah Palin made this mistake? Charlie Gibson would be jumping up and down screaming "Gotcha!"

It raises a question though. Obama has over 300 foreign policy advisers. How many economic policy advisers does he have that let this slip through.

Posted by: Dan | Sep 17, 2008 1:33:32 PM

I heard a couple of TV news stations call it "Insurance" instead of "International" too.


That's what happens when the media parrots talking points from Obama. Can they be anymore in the tank?

Posted by: geevill | Sep 17, 2008 1:12:50 PM

Thinking, food for thought!

About 28 years ago, Galveston Co., TX opted out of Social Security for its county employees (before Congress blocked local governments from opting out in 1983). So instead of going into Social Security, the employees' contributions went into conservative fixed-rate guaranteed annuities. The average annual rate of return has been 6.5% over the last 24 years. So now upon retirement after 30 years and assuming only a 5% annual return (far less than what they have been receiving), workers making $17,000 a year will receive $1,036 instead of $683; workers making $26,000 a year will receive $1,500 instead of $853; workers making $51,000 a year will receive $3,103 instead of $1,368; workers making $75,000 or more will receive $4,540 instead of $1,645.

In addition, the Galveston County survivorship benefits pay 4 times a worker's annual salary upon the death of the worker. AND if a worker dies before retirement the survivors receive the full survivorship benefit plus a generous accidental death benefit.

Posted by: James Danley | Sep 17, 2008 12:54:38 PM

Kirch 79:

Your comment: And it isn't going to matter who is in the White House or Congress when the time comes to pay the piper.

That is just plain WRONG. There were people with a very keen interest of keeping money available and cheap. We need to find out who they are and take actions to tighten up regulations and punish these offenders. People lost homes and those working for these lending institutions are going to lose JOBS. This is not just an intellectual exercise. There are real people out here losing.

Posted by: beebop | Sep 17, 2008 12:49:16 PM

Typo? That's not a typo. That's a lack of understanding by the author, the reviewer, and the reviewer's reviewer. Staffers don't jot these things down a push them out unilaterally. Makes you wonder if Obama's thoughts about "Big Oil" are really just a reflection of his thoughts about "Big Business" in general, you know, the whole Wall St. is the root of all evil thing.

Should we go back and check Obama's statements about Lohmen Brothers and AmerilLynch? All kidding aside, the most surprising thing about the link to the article was someone found Joe Biden and actually stopped and talked to him.

Posted by: Woody | Sep 17, 2008 12:48:51 PM

Obama's statement on his website at 10:42 this morning has it correct. Your statement here at 11:56am has the typo. So my question is... this is just a typo- is it your or his staff?

Posted by: b | Sep 17, 2008 12:48:26 PM

Chris from CT:

I'll save you the google search:

Dodd - $165,400. 0bama - $126,349. Kerry - $111,000.

Those are the top three. So. 0bama didn't accomplish a lot in his short senate career, but he certainly learned fast, don't you think?

And. No republicans in the top three ....

Posted by: beebop | Sep 17, 2008 12:46:20 PM

I blame individual consumers for this problem. They bought more house than they could afford, and hoped that their adjustable rate mortgages never *gasp* adjusted!

Now all of a sudden, keeping up with the Jones' has cost you your house and cost the economy its stability and cost taxpayers hundreds of billions of dollars that really aren't there.

This dangerous trend of buying today's material possessions with tomorrow's money is finally beginning to catch up to the largest economy in the world. And the end result can be delayed, but I believe it is inevitable. And it isn't going to matter who is in the White House or Congress when the time comes to pay the piper.

Posted by: Kirch79 | Sep 17, 2008 12:44:54 PM

McCain?Palin=SNOW JOB EXPRESS

Posted by: polarbearkiller | Sep 17, 2008 12:44:49 PM

Oops He did it again. Perhaps Brittny or Paris can help him with the names of big financial institutions.

Posted by: s.b. | Sep 17, 2008 12:44:27 PM

It's dementia!

Posted by: trettione | Sep 17, 2008 12:44:17 PM

Bush's I.Q. is to low to have a Doctrine unless it was written in crayon. Everybody knows Pinky and the Brain's, a.k.a. Bush/Channey Doctrine. It's to take over the world.

Posted by: Tomjoad1776 | Sep 17, 2008 12:43:10 PM

I heard a couple of TV news stations call it "Insurance" instead of "International" too. I wasn't sure which it was until they showed the actual AIG building and it had "American International Group" over the doorway.

Posted by: bonnie | Sep 17, 2008 12:42:20 PM

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