Posted On: October 14, 2008, 11:43 am CDT

Posted By: matt

1) AIG was in big trouble, because of decisions they made.

2) The FED offered AIG terms to prevent an overnight fire sale of the companies assets.

3) These terms were granted with the intent of allowing AIG adequate time to "wind down their operations" AKA LIQUIDATE ASSETS. Just in a reasonable amount of time, at a reasonable price, instead of overnight for a fire sale.

4) AIG accepted the terms.

5) Let me say this again -- *** AIG ACCEPTED THE TERMS ***

6) Now other companies got a better deal in Greenberg's opinion, and poor Hank wants his stock to be worth more than it is, so he comes back with a "HEY, ME TOO" attitude.


They should renegotiate or face liquidation?


THE PURPOSE OF THE LOAN WAS TO **ALLOW** THE ORDERLY LIQUIDATION OF THE COMPANY'S ASSETS.


Everybody look at the snake oil salesman at work. If anyone doubted who is WHOLLY AND FULLY RESPONSIBLE for AIG's woes, look no farther than Hank "I swear it's not my fault even though it clearly is" Greenberg!

He wants to renegotiate to get "at least" as good a deal as other companies, PLUS he wants to sell their "troubled assets" to the Treasury.


The whole world needs to wake up to this ridiculous robbery of our Treasury. Attitudes just like this are destroying the very fibre of America's being. Any pursuit of this idiotic, ridiculous and unfair proposition by a man who stands to gain a great deal from it should be strongly condemned.

Say ENOUGH to AIG -- it's sink or swim time, not sweetheart deals with our money time.

I hope you all are as disgusted as I am by Hank's offensively asinine suggestion.