American General New Chargeback Rule

[rousemark]

Oooh, very unfair allusion there.

I'm not here to defend American General, but the bailout had nothing to do with them or their financial fitness and everything to do with the parent company's (American International Group) extremely high exposure to risky credit based derivatives that put them on the hook for more money than they had available to pay.

True... And even with AIG the Feds made a few billion... But when it comes to Jim Mallon, he constantly squeezed the captive agents pay. You can't make any money with them unless you are in the "bonus box"..and they have doubled the minimum weekly production requirement to get the minimum bonus.. They have also removed some products from counting toward bonus therefore making even harder to qualify and have cut commissions.. Cancer did pay 45% now it pays 12%...

 

[shonceman]

Oooh, very unfair allusion there.

I'm not here to defend American General, but the bailout had nothing to do with them or their financial fitness and everything to do with the parent company's (American International Group) extremely high exposure to risky credit based derivatives that put them on the hook for more money than they had available to pay.

Actually, I know all that. I know, too, that AIG was prevented by the courts from getting funds from their more profitable insurance subsidiaries.

Just a joke, really. And I know you're not supposed to explain a joke, but here goes: Sometimes the apple doesn't fall far from the tree. When AG starts to fail because agents don't write for them as much as they did, and they can't raid agents comp anymore, maybe they can call their daddy for help & daddy can borrow some from his kindly, generous Uncle Sam!

 

[BNTRS]

Actually, I know all that. I know, too, that AIG was prevented by the courts from getting funds from their more profitable insurance subsidiaries.

Just a joke, really. And I know you're not supposed to explain a joke, but here goes: Sometimes the apple doesn't fall far from the tree. When AG starts to fail because agents don't write for them as much as they did, and they can't raid agents comp anymore, maybe they can call their daddy for help & daddy can borrow some from his kindly, generous Uncle Sam!

Tone is often hard to convey in written form. No worries. We need a universal sarcasm font.