Remember these names.
These infamous AIG board members who steered the largest insurance co to the brink of insolvency and gave the government 80% of the firm for a line of credit at 12%.
Stephen F. Bollenbach
Former Co-Chairman and Chief Executive Officer
Hilton Hotels Corporation
Martin S. Feldstein
Professor of Economics
Harvard University
President Emeritus
National Bureau of Economic Research
Fred H. Langhammer
Chairman, Global Affairs
Former Chief Executive Officer
The Estée Lauder Companies Inc.
George L. Miles, Jr.
President and Chief Executive Officer
WQED Multimedia
Suzanne Nora Johnson
Senior Director
Former Vice Chairman
The Goldman Sachs Group, Inc.
Morris W. Offit
Chairman
Offit Capital Advisors LLC
Founder and Former
Chief Executive Officer OFFITBANK
James F. Orr III
Chairman of the Board of Trustees
The Rockefeller Foundation
Virginia M. Rometty
Senior Vice President
Global Business Services
IBM Corporation
Michael H. Sutton
Consultant
Former Chief Accountant of the United States Securities and
Exchange Commission
Edmund S. W. Tse
Senior Vice Chairman, Life Insurance
American International Group, Inc.
Robert B. Willumstad
Chairman and Chief Executive Officer
American International Group, Inc.
This, on the heels of the announcments by Cincinnati and EMC this past week. Who else is heading for trouble with their investment portfolio?
……Australian insurers QBE Insurance Group, IAG and Suncorp-Metway say they have no direct exposure to troubled US insurance giant, American International Group.
QBE said it had no direct exposure to global investment banks Lehman Brothers and Merrill Lynch or to insurer American International Group through its investment portfolio.
IAG advised the group had no material exposure to AIG, while Suncorp-Metway said it had no material exposure to either AIG or Lehman Brothers.
Over the past few days, Lehman Brothers has filed for bankruptcy, swamped by mortgage losses, Merrill Lynch has been taken over by Bank of America and the US government has agreed to rescue AIG with an $107 billion state loan.
Hasnt Frank held that position for only 2 years? I haven’t heard any where else that he was at fault. Could you enlighten me? send me some links that say Barney is at fault for this….Thanks,
Blame Bush, blame Clinton, blame Hank, blame Republicans, blame Democrats, Ron Paul was right, vote 3rd party, send them to jail, they are evil, they are greedy, fire them, don’t let them write any new business and my personal favorite “I never voted for the bailout”.
I don’t think I’ve ever read ALL comments on a topic as serious as this and as many replies as this. But I did now, and yes my time, as well as anyone’s is valuable. I’m not going to share my experience in the industry which would be impossible to validate, as well as Mongoose’s standing there on his soapbox with all the imaginary medals and commendations, which are meaningless to the matter at hand. First, I thought Greenberg was a maverick in creating, marketing, developing and making AIG profitable. Then, Spitzer brought him down. Is this too simple? Now, with new management, after Greenberg left, AIG fell apart. Also, I thought Greenberg CANNOT solicit any AIG customers via court order. Am I wrong on that? Of course, the issue here is yes or no should the government bail out AIG, and if so, they have 2-years to pay them back. My opinion, even though I’m a little left of center Democrat, let them fall by the wayside. I feel that enough is enough. And, who can tell what the world/USA/AIG will be in 2-years. It’s a lot different then it was over 30-years ago when Carter was president and I’m not expecting any Lee Iococca’s coming in to save the sinking ship. Where the USA economically is right now, or at least by the end of the year when the new administration comes into office, we’re at rock-bottom, and there’s nowhere else to go but up. I do agree on Mongoose that yes, we MUST vote especially in the upcoming election, and that Collin Powell was boldly disrespected. One more thing is that AIG falling, on a positive side, to tell my P&C customers to keep their policies in force because if they’re cancelled and have to be re-written, the rate will probably go up!!
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If we get the same administration, may as well start passing the koolaid…
Remember these names.
These infamous AIG board members who steered the largest insurance co to the brink of insolvency and gave the government 80% of the firm for a line of credit at 12%.
Stephen F. Bollenbach
Former Co-Chairman and Chief Executive Officer
Hilton Hotels Corporation
Martin S. Feldstein
Professor of Economics
Harvard University
President Emeritus
National Bureau of Economic Research
Fred H. Langhammer
Chairman, Global Affairs
Former Chief Executive Officer
The Estée Lauder Companies Inc.
George L. Miles, Jr.
President and Chief Executive Officer
WQED Multimedia
Suzanne Nora Johnson
Senior Director
Former Vice Chairman
The Goldman Sachs Group, Inc.
Morris W. Offit
Chairman
Offit Capital Advisors LLC
Founder and Former
Chief Executive Officer OFFITBANK
James F. Orr III
Chairman of the Board of Trustees
The Rockefeller Foundation
Virginia M. Rometty
Senior Vice President
Global Business Services
IBM Corporation
Michael H. Sutton
Consultant
Former Chief Accountant of the United States Securities and
Exchange Commission
Edmund S. W. Tse
Senior Vice Chairman, Life Insurance
American International Group, Inc.
Robert B. Willumstad
Chairman and Chief Executive Officer
American International Group, Inc.
This, on the heels of the announcments by Cincinnati and EMC this past week. Who else is heading for trouble with their investment portfolio?
……Australian insurers QBE Insurance Group, IAG and Suncorp-Metway say they have no direct exposure to troubled US insurance giant, American International Group.
QBE said it had no direct exposure to global investment banks Lehman Brothers and Merrill Lynch or to insurer American International Group through its investment portfolio.
IAG advised the group had no material exposure to AIG, while Suncorp-Metway said it had no material exposure to either AIG or Lehman Brothers.
Over the past few days, Lehman Brothers has filed for bankruptcy, swamped by mortgage losses, Merrill Lynch has been taken over by Bank of America and the US government has agreed to rescue AIG with an $107 billion state loan.
Some thing is going on behind the scenes.
Hasnt Frank held that position for only 2 years? I haven’t heard any where else that he was at fault. Could you enlighten me? send me some links that say Barney is at fault for this….Thanks,
liberal
The idiots of the world have united:
Blame Bush, blame Clinton, blame Hank, blame Republicans, blame Democrats, Ron Paul was right, vote 3rd party, send them to jail, they are evil, they are greedy, fire them, don’t let them write any new business and my personal favorite “I never voted for the bailout”.
What will the next ignoramus have to say?
Let’s vote Mongoose for president.
As for the Illuminati comment – hey it could be the Bilderberger connection.
They have an Insurance Company in place to handle the new national health insurance program
I’ll be that ignoramus, Pirk. None of you jerks answered my last post anyway.
I don’t think I’ve ever read ALL comments on a topic as serious as this and as many replies as this. But I did now, and yes my time, as well as anyone’s is valuable. I’m not going to share my experience in the industry which would be impossible to validate, as well as Mongoose’s standing there on his soapbox with all the imaginary medals and commendations, which are meaningless to the matter at hand. First, I thought Greenberg was a maverick in creating, marketing, developing and making AIG profitable. Then, Spitzer brought him down. Is this too simple? Now, with new management, after Greenberg left, AIG fell apart. Also, I thought Greenberg CANNOT solicit any AIG customers via court order. Am I wrong on that? Of course, the issue here is yes or no should the government bail out AIG, and if so, they have 2-years to pay them back. My opinion, even though I’m a little left of center Democrat, let them fall by the wayside. I feel that enough is enough. And, who can tell what the world/USA/AIG will be in 2-years. It’s a lot different then it was over 30-years ago when Carter was president and I’m not expecting any Lee Iococca’s coming in to save the sinking ship. Where the USA economically is right now, or at least by the end of the year when the new administration comes into office, we’re at rock-bottom, and there’s nowhere else to go but up. I do agree on Mongoose that yes, we MUST vote especially in the upcoming election, and that Collin Powell was boldly disrespected. One more thing is that AIG falling, on a positive side, to tell my P&C customers to keep their policies in force because if they’re cancelled and have to be re-written, the rate will probably go up!!