Quote:
Originally Posted by Daradon
Obviously you've never been screwed on a contract.
If the person owing you can't pay, it don't matter. If AIG had not received the bailout, they wouldn't be able to pay. The fact that the were bailed out changes everything on the books at that point because if they weren't, there wouldn't even be books, jobs, bonuses to discuss.
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So, they would have declared bankruptcy, and different investors would have come in and bought the company.
I don't know if the contracts would have still been upheld. I would imagine not. But that is a different situation than what we're talking about here.
Those contracts are still in place by LAW. And need to be fulfilled, as required by US Federal Contract Law.