SO……LET ME GET THIS RIGHT……IF I’M THE CEO OF A VERY BIG COMPANY, I CAN OPERATE AS GOOFY AS I WANT AS LONG AS I HAVE A GOLDEN PARACHUTE CUZ THE GUYS LEFT HOLDING THE BAG CAN JUST REFILL IT WITH TAXPAYER MONEY????
Hate to be the bearer of bad news, but the “parent” just got permissions by the New York Director of Insurance (as well as the Governor) to raid the cookie jar – $20 billion worth.
I couldn’t agree with you more. Mr. Greenberg also believed that deals didn’t have to be complicated to work – and if the deal was too complicated to understand, you had no business doing the business to begin with.
I don’t believe AIG would have ever been in the CDS business as aggressively as they are now under Greenberg’s iron hand. He would have put an end to the derivatives unit the minute they started getting into deals he personally didn’t understand. Unfortunately for us, he left in 2005.
I think it will be a shame if the Feds step in and rescue AIG. I am an insurance executive and have first hand looks at how AIG Insurance Subsidiaries operate. Recently, they have been buying property and casualty business by lowering their prices far below what their competitors are able to match. It is absolutely insane some of the low premiums I see on their products. I highly doubt that if they had a strong run of claims, that they would be able to pay them all. It is the old ponsi scheme in action.
Another thing that has run it into the ground are the fat cat executives in the company. Don’t tell me that Hank Greenberg is worth billions of dollars. He got away with flat robbery of the company. If I were a share holder, I would certainly be holding him accountable for some of their losses. If the Feds bail them out, they are setting themselves up to have to bail more out in the future. They will setting a precedent.Basically, they are saying be as unscrupulous as you please and the government will take care of you. I’m sorry, but I am flat angry about this one.
Basically, they are saying be as unscrupulous as you please and the government will take care of you. …. and
isn’t this what americans will expect with universal health care? pay out, pay out, pay out.
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SO……LET ME GET THIS RIGHT……IF I’M THE CEO OF A VERY BIG COMPANY, I CAN OPERATE AS GOOFY AS I WANT AS LONG AS I HAVE A GOLDEN PARACHUTE CUZ THE GUYS LEFT HOLDING THE BAG CAN JUST REFILL IT WITH TAXPAYER MONEY????
Hate to be the bearer of bad news, but the “parent” just got permissions by the New York Director of Insurance (as well as the Governor) to raid the cookie jar – $20 billion worth.
I also want a loan for $40B. They can have my most valuable asset in exhcnage.
I couldn’t agree with you more. Mr. Greenberg also believed that deals didn’t have to be complicated to work – and if the deal was too complicated to understand, you had no business doing the business to begin with.
I don’t believe AIG would have ever been in the CDS business as aggressively as they are now under Greenberg’s iron hand. He would have put an end to the derivatives unit the minute they started getting into deals he personally didn’t understand. Unfortunately for us, he left in 2005.
$hit!
Ha ha.. yep that is about right!
GOD I HOPE SO. TOO MANY VACANT HOMES, TOO MANY SAD PHONE CALLS FROM CLIENTS LOSING THEIR HOMES.
I think it will be a shame if the Feds step in and rescue AIG. I am an insurance executive and have first hand looks at how AIG Insurance Subsidiaries operate. Recently, they have been buying property and casualty business by lowering their prices far below what their competitors are able to match. It is absolutely insane some of the low premiums I see on their products. I highly doubt that if they had a strong run of claims, that they would be able to pay them all. It is the old ponsi scheme in action.
Another thing that has run it into the ground are the fat cat executives in the company. Don’t tell me that Hank Greenberg is worth billions of dollars. He got away with flat robbery of the company. If I were a share holder, I would certainly be holding him accountable for some of their losses. If the Feds bail them out, they are setting themselves up to have to bail more out in the future. They will setting a precedent.Basically, they are saying be as unscrupulous as you please and the government will take care of you. I’m sorry, but I am flat angry about this one.
Basically, they are saying be as unscrupulous as you please and the government will take care of you. …. and
isn’t this what americans will expect with universal health care? pay out, pay out, pay out.
c’mon, Gary…if the government bails them out, it’ll fix everything! Look how it helped the airline industry! oh, wait…