You do need to consider the fact that if AIG goes belly up you might have to put off flying for a while. They underwrite many if not all of those neat little things we call commercial airliners.
Anyway, if you're steamed, don't think they're done visiting Washington ... you'd probably be wrong.
American International Group CEO Edward Liddy told CNBC that the big insurer is far more stable and secure than it was last fall but acknowledged that it's "difficult to say" if AIG will need even more money from the government in the future.
aig....50 cents a share.
don't bet the farm on this one, but 500 bucks buys 1000 shares in one of the country's biggest insurers.
still a long shot, but waaaay better odds than betting on the lottery, or obama.
Posted by: mark l. | Monday, March 02, 2009 at 03:23 PM
I've always felt that AIG was probably the one group that shouldn't be allowed to to down.
Posted by: tally | Monday, March 02, 2009 at 05:45 PM
AIG is a bottomless pit of losses, and exemplifies how disastrous the Commodities Futures Deregulation Act was for this country. The idea that credit default swaps could go unregulated and grow to a $64 trillion market is appalling. AIG didn't reserve a cent for the CDS's they wrote. I don't believe a word of what Ed Liddy says. One thing that is wholly consistent in this market meltdown the past year and a half is that if you actually took CEO's at their word from their television interviews, you would have lost a bloody fortune.
Oh yeah. Nice to see Ken Lewis got $10 million compensation for 2008 from BofA while shareholders lost 90% of their investment in 2008, not to mention the piles of TARP money taxpayers dumped in. Helluva job, Lewie !
Posted by: Todd | Monday, March 02, 2009 at 09:02 PM
AIG is a bottomless pit of losses, and exemplifies how disastrous the Commodities Futures Deregulation Act was for this country. The idea that credit default swaps could go unregulated and grow to a $64 trillion market is appalling. AIG didn't reserve a cent for the CDS's they wrote. I don't believe a word of what Ed Liddy says. One thing that is wholly consistent in this market meltdown the past year and a half is that if you actually took CEO's at their word from their television interviews, you would have lost a bloody fortune.
Oh yeah. Nice to see Ken Lewis got $10 million compensation for 2008 from BofA while shareholders lost 90% of their investment in 2008, not to mention the piles of TARP money taxpayers dumped in. Helluva job, Lewie !
Posted by: Todd | Monday, March 02, 2009 at 09:11 PM
so what do you think Todd?
they are a bottomless pit, but do they survive?
Posted by: mark l. | Monday, March 02, 2009 at 10:29 PM
"--- they are a bottomless pit, but do they survive? ---"
Birds of a feather stick together.
The Democrat-controlled US budget deficit and trade deficits are nearly bottomless pits too, and they will in no wise let slip a chance to control (or have serious leverage) in the biggest insurer, thus ensuring (indirect) control over the many industries it underwrites.
Posted by: seekeronos | Tuesday, March 03, 2009 at 11:19 AM
I'm buying a little...
how many companies can boast having the bankroll of the US govt, to help stave off bankruptcy?
sorry gm, you might have a unlimited bankroll too, but your history of falling deeper in debt inspires 'zero' confidence. There will never be a day, when you can stand on your own.
Posted by: mark l. | Tuesday, March 03, 2009 at 04:10 PM