AIG

[Guest]

Re: AIG looks like it heading for BK if they can't raise 75 Billion

We as a nation have gotten spoiled there is a business cycle

The problem is the is also an incompetence cycle

What happens in any industry is this

First- you have the innovators a fantastic new product arrives

Second- You have every company try to copy what the innovators did

Third- The field become saturated with idiots who take shortcuts and become greedy

This happens in all industries esp financial withness the annuity business, the private equity game, and health insurance as examples

This too shall pass the earth will still spin tommorow

Yes, it's a good thing that no matter what people do, the world remains in tact.

 

[Mr. Bill]

Re: AIG looks like it heading for BK if they can't raise 75 Billion

Very very interesting. I bet Hank Greenberg had a ****load of stock, options, and deferred comp. he'll be needing a sugar mama now!

 

[retread]

Re: AIG looks like it heading for BK if they can't raise 75 Billion

Owe the bank $100 grand, and they have you by the short hairs.... Owe them $100 billion, and you call the shots.

AIG can't be allowed to go BK for the same reason Bear Stearns had to be saved. Lehman Bros, Merrill Lynch, et al are not the big fish in the pond as the former. AIG is the largest insurance carrier IN THE WORLD. It has international repercussions...

 

[SportsNut]

Re: AIG looks like it heading for BK if they can't raise 75 Billion

Very very interesting. I bet Hank Greenberg had a ****load of stock, options, and deferred comp. he'll be needing a sugar mama now!

Hank owned 12% of AIG with his personal shares plus what is owned by CV Starr Int'l... was worth over 2B, so he has had a pretty bad year...

I was looking at some insider trading listed for AIG and there are a couple of execs who recently bought the stock at $ 24 share.... within the past couple of weeks. I would think they could qualify for *** of of the month... If you are inside the company and privy to what positions they hold, and go ahead and gamble on their survival, then you deserve to lose the $$$. Ouch.

 

[Crabcake Johnny]

Re: AIG looks like it heading for BK if they can't raise 75 Billion

It's all a big load of kaka. These are the same institutions that have no mercy on us.

Late on a payment? Screw you - fees up the a**. We have to be flawless and of course nothing bad is allowed to happen. Lost your job? Great - pay up. We don't care.

Then they're exposed - THEY can't manage their business in downtimes yet we're supposed to.

The emotional response it let 'em sink and and go under. The issue with that is more good people end up getting hurt.

I do believe these CEOs should be blacklisted from the business community - nothing legal, nothing in writing - but that they become completely unemployable at that level.

If you're making millions a year and take down a company it should be over.

 

[Mr. Bill]

Re: AIG looks like it heading for BK if they can't raise 75 Billion

I agree with you John.

This video is pretty damn scary!!!

Yahoo!

 

[joshril]

Re: What are you doing with clients w/ AIG policies?

AIG will be fine

Agreed. Keep on selling!

 

[retread]

Re: AIG looks like it heading for BK if they can't raise 75 Billion

Absolutely! If I just barely scraped a wingtip trying to land in turbulent weather, I would be hauled on the carpet and my pilot's license in jeopardy when I flew for TWA... (never did such a thing myself, but knew some buddies that did), and yet the high paid executives would blow millions in hare-brained marketing schemes that tanked. Accountability seems to only apply to the low man on the totem pole.

Did you ever think you would see the day when you could buy stock in Lehman Bros, Fanny Mae, and Freddie Mac... ALL THREE for $1.00 and get change back? Wanna bet those jerks are going out with millions in compensation while the stockholders get the shaft?

I think McCain is the only one to express his outrage that this situation has got to stop! I know campaign promises from politicians are not worth what you pay for them, but he seems to be serious. Just hope somebody does something about this. Of course, big business may scheme to thwart him if they fear for their own skins.... they always move to protect their own fiefdoms regardless of the consequences to the companies they run.

(Sorry for the rant.... I just can't take it anymore!)

 

[retread]

Re: AIG looks like it heading for BK if they can't raise 75 Billion

Well, the Federal Reserve is capitalism at it's best, so you must be happy.

The Federal Reserve system is run by monetarists. I, for one, don't consider the monetary policy they operate under as free-market capitalism. I think it is left-wing socialism.

Look at the $85 billion bridge loan to AIG, for example. The government is loaning them more money to mis-manage. I understand that we are over a barrel and have no choice, but we are where we are because the government did not do its due diligence, and AIG management had a free hand to do what they wanted with government sanction. Had they been required to make public what they were doing, this might possibly been avoided. If the government had not been in bed with AIG, they would not have been able to get this far out on a limb.

Like I always say "Owe the bank a small loan and they own you, own the bank a humongous loan and you own them." AIG has a strangle hold on not only a number of U.S. banks, but many European banks as well. Can you spell "illiquid assets"?

 

[Guest]

Re: AIG looks like it heading for BK if they can't raise 75 Billion

The Federal Reserve system is run by monetarists. I, for one, don't consider the monetary policy they operate under as free-market capitalism. I think it is left-wing socialism.

Look at the $85 billion bridge loan to AIG, for example. The government is loaning them more money to mis-manage. I understand that we are over a barrel and have no choice, but we are where we are because the government did not do its due diligence, and AIG management had a free hand to do what they wanted with government sanction. Had they been required to make public what they were doing, this might possibly been avoided. If the government had not been in bed with AIG, they would not have been able to get this far out on a limb.

Like I always say "Owe the bank a small loan and they own you, own the bank a humongous loan and you own them." AIG has a strangle hold on not only a number of U.S. banks, but many European banks as well. Can you spell "illiquid assets"?

Good point.