Even though I work for a competitor, and always hoped that AIG would fall flat on its face….I never in a million years I would ever see the day that it happened..
I feel bad for the workers there…not the higher ups. Never a good time.
I thought I heard on NPR from some analyst that the bond insurance/investments operation might be spun off to protect the Life/P&C side of the company… Would anyone please speculate? Should auto policyholders be concerned or worried?
I cannot believe they are getting a bailout for being irresponsible! They screwed up and now are going to screw many of us out of more money in the form of $85,000,000,000 – that is what $85 Billion looks like… not so nice when you write it with all the zeros, eh?
They have been buying business in my State (Texas) on the P&C side with total disregard for their loss ratios and in effect making it VERY difficult for companies who are trying to improve their loss ratios to win business – but I guess they don’t have to worry because the government will just bail them out… total B.S.!
They should be allowed to go the way of the dinosaur and let companies that ARE responsible earn their book as it disintigrates… why would we “bail out” a company which has proven that it only knows how to mishandle the funds that have been entrusted to it… I totally don’t buy the, “They’re too big to fail.” balony! Nobody and NOTHING is too big to fail… they fail if they deserve to, ESPECIALLY if they have done the things that this company has chosen to do!
And we were worried about National Health Care. Now, we have National P & C. Socialism at its finest. And during a Republican Administration. If the guys at the top of AIG don’t get skewered for their mismanagement of the company, then this country is in trouble. They should be jailed and have their nads removed.
I agree with Mark: all this government is doing is rewarding bad behavior; and in this situation, even certain illegal activities. Hank Greenburg is having one final last laugh at the expense of the rest of us fools who allow our government to play patsy to these New York elistist thieves!
If we don’t allow our capitalist system to naturally weed out those that deserve to die on the vine, then all we will have left is another version of the Chinese Method of running our economy.
Hank Greenberg was just on Good Morning America – he looks a lot like the Grinch who stole Christmas… I wish I was artistic, I’d draw a picture of Grinch Greenberg with the global economy in sack over his shoulder sneaking out town…
Hank said he lost his whole net worth, all I have to say about that is good.
Ok …right. So, we ARE going to get the money back? I won’t even ask anyone to follow up on this in 2010. It will be long forgotten, and long forgiven/hidden.
But, I did hear that the tooth fairy really does exist, and she’s increasing her payouts by 100%. She must be getting in on some of the tax advantages we are all going to feel as we reap the benefits of ownership in AIG.
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Even though I work for a competitor, and always hoped that AIG would fall flat on its face….I never in a million years I would ever see the day that it happened..
I feel bad for the workers there…not the higher ups. Never a good time.
I thought I heard on NPR from some analyst that the bond insurance/investments operation might be spun off to protect the Life/P&C side of the company… Would anyone please speculate? Should auto policyholders be concerned or worried?
I cannot believe they are getting a bailout for being irresponsible! They screwed up and now are going to screw many of us out of more money in the form of $85,000,000,000 – that is what $85 Billion looks like… not so nice when you write it with all the zeros, eh?
They have been buying business in my State (Texas) on the P&C side with total disregard for their loss ratios and in effect making it VERY difficult for companies who are trying to improve their loss ratios to win business – but I guess they don’t have to worry because the government will just bail them out… total B.S.!
They should be allowed to go the way of the dinosaur and let companies that ARE responsible earn their book as it disintigrates… why would we “bail out” a company which has proven that it only knows how to mishandle the funds that have been entrusted to it… I totally don’t buy the, “They’re too big to fail.” balony! Nobody and NOTHING is too big to fail… they fail if they deserve to, ESPECIALLY if they have done the things that this company has chosen to do!
I’ve always thought the insurance industry would destroy the American economy now it appears I was right…
And we were worried about National Health Care. Now, we have National P & C. Socialism at its finest. And during a Republican Administration. If the guys at the top of AIG don’t get skewered for their mismanagement of the company, then this country is in trouble. They should be jailed and have their nads removed.
I agree with Mark: all this government is doing is rewarding bad behavior; and in this situation, even certain illegal activities. Hank Greenburg is having one final last laugh at the expense of the rest of us fools who allow our government to play patsy to these New York elistist thieves!
If we don’t allow our capitalist system to naturally weed out those that deserve to die on the vine, then all we will have left is another version of the Chinese Method of running our economy.
Hank Greenberg was just on Good Morning America – he looks a lot like the Grinch who stole Christmas… I wish I was artistic, I’d draw a picture of Grinch Greenberg with the global economy in sack over his shoulder sneaking out town…
Hank said he lost his whole net worth, all I have to say about that is good.
Ok …right. So, we ARE going to get the money back? I won’t even ask anyone to follow up on this in 2010. It will be long forgotten, and long forgiven/hidden.
But, I did hear that the tooth fairy really does exist, and she’s increasing her payouts by 100%. She must be getting in on some of the tax advantages we are all going to feel as we reap the benefits of ownership in AIG.
Yaaawwwwn,
Well, I’ll pass on the political rhetoric because there’s enough blame for many shoulders, but the trillion looks really good on paper.
Hooray! We just bought 80% of a trillion for only 85 Billion.
But, who valued those assets? The same folks that valued the properties that were improperly mortgaged, causing the mac disaster among many others?
I wonder why nobody else jumped in, quick as a fox, on this pennies for dollars investment?
The fox is watching the henhouse, and the hens are fast asleep.
Hmmm…
Now that was funny …I don’t care who you are!