black hole

simply amazing, what a waste of money

I thought AIG was supposed to sell assets to pay back the money the federal government loaned them. Why aren't they doing this? Why isn't the Fed making them do this?

AIG IS HOLDING 45BILLION IN TAX FREE GOV BONDS. WHY DON'T THEY TURN THESE OVER TO THE FED TO REDUCE THEIR LOAN?

AIG is in a lot of trouble and I don't think they have the "strength to be there". This article is pretty interesting over at gotoguy.com

http://www.gotoguy.com/?p=472

Steve got it in his response. If AIG has billions in government debt securities, these should be turned over to the Fed to repay the loans. The profitable insurance businesses of AIG should be separated from the CDS and MBS-investing divisions and sold.

What are suppose to do if you have Auto policies with Aig?

Question? Will the taxpayer be liable for compensation packages should the company fail?

OK, so maybe they shouldn't have taken a 400,000 retreat to a spa resort. Not like that was more than a drop in the bucket compaired to the 90B. they were given to blow. Financial bail-out. Did they really think that this would help? We're all still broke, loosing jobs, homes, need food on our tables, clothing for our children. Non of these things are getting cheaper. The Gas is the only thing dropping. The groceries aren't dropping and they said they went up due to the increase in gas prices. So, once again hoodoo the little guy, but be sure you save those big rich thangs up there, cause your little man isn't going to be here to hold you up much longer.
Side note: The 'low class' people could have saved everyone on the Titanic, check the studies. Guess the high society just wants us to drown again!

I SAY, LET THOSE WHO FAILED, FAIL! THE WHOLE COUNTRY WOULD HAVE BEEN BETTER OFF (AND CHEAPER) IF THE GOV. JUST GAVE EVERY AMERICAN $1,000,000.... AS UNREALISTIC AND STUPID AS THAT MIGHT SOUND/BE TOO.
FOLKS, THIS IS NOT GOOD! AND I KNEW IT WOULDN'T BE.

TIP OF THE DAY.....HIDE YOPU MONEY. PREFERABLY NEXT TO YOUR 9mm.

I HAVE BEEN POOR MY WHOLE LIFE AND IT IS GOING TO BE FOR THE REST OF IT TOO.CANT UNDESTAND WHY NOBODY IS RESPONSABLE FOR THIS CATASTROPHE THOSE HIGH PAID CEO ARE PLAYING GOLF AS WE SPEAK..THE HIGHT PAY AND THOSE GOLD PARACHUTE DID NOT WARANTY A SMOOTH SAILING IN AIG..AGAIN THE LITTLE PEOPLES WILL BE ASK TO PAY FOR THOSE LOSER CEO WITH THE MORGAGING MY KIDS GENERATION...I SAY....GO TO HELL ASS%$#@*s

I just recently cashed in my money market accoung with AIG simply because the money was not insured by the FDIC but instead with an AIG Insurance entity of the corporate conglomerate. What good is their insurance when they don't have the funds to back it, so I closed it out, and redirected the funds to another account. If they fail, it is their own fault.

If you have policies with them you better be looking for new insurance.... I have a one car policy with them and I've been cancelled! Kinda sick when our tax dollars are supposed to help, and we get screwed anyway!

There has been massive lack of responsibility with the regulatory oversight of AIG and the senior corporate executives of this company. The regulators have proven to be inept and the executives need not only to be replaced but prosecuted for their lack of diligence in allowing this company to fail on their watches. For the taxpayer being required to come to the aid of this organization is like pouring money down a rathole. When ever the govt gets involved in the private sector they tend to muck up private sector enterprises. The very idea that we have politicians supporting this reflects the quality and level of these politicians.

Sounds like they just making an excuse to steal money! To think we burned witches??? We need the same treatment of CEO`s & see if they change their ways then!!!!!!!

Looks like time for another company outing to boost moral for their top losers. $750,000 should do it. I hear Dubai is nice this time of year. Perhaps a big bonus might turn things around. Hell it's only blood money leached from the American tax payer. The rich gets richer and the rest of us pay for it. It's the Republican way.

The federal government established a dangerous precedent when it made its initial donation of taxpayer money to save AIG. That money is long gone and the government, never one to cut its (our!) losses, has offered even more money to AIG, most of which they have blown through already, as AIG stock continues to plummet. That shows that the market knows that AIG is in fact bankrupt, as it already was in September. The problem is that, while the Fed replaced the last incompetent CEO, it did not rid AIG of the rest of its management structure, nor did it enforce the dictate that AIG sell assets to restore solvency. AIG's present problems may be traced back to the dismissal of long-time CEO Maurice Greenberg and his replacement with Martin Sullivan as CEO, who through a combination of incompetence and greed allowed AIG to deviate from sound economic practices. (For this destruction, Mr. Sullivan was to have been rewarded with a $15 million golden parachute plus $5 million bonus!) The corporate welfare program needs to end - NOW! The reality is that if AIG is allowed to fail, which is sound free-market practice, the sale of its assets will serve to re-energize other businesses through expansion and allow some payment back to the taxpayers. If AIG is permitted to drain public coffers as it has, it has no incentive to change its failed "business as usual" attitude or to discontinue its profligate ways, such as lavish trips and millions for lobbyists.

It appears this is a strong indication of how the Bush, Paulson, Bernike bailout is going to go. Congress should never have given them what they wanted.

What will happen to the life insurance policies that people have? I am to old to get another police John hancock screwed us with the last one

Being a small business owner and having had AIG for my workman's comp. I can tell you it's no surprise they will fail! This company is despicable in it's practices, rediculous salaries,bonuses, spending sprees. Nothing more than blatent greed. I hope they go down in flames and all the executives go right to jail!