Posted On: November 4, 2008, 6:21 am CST

Posted By: DD

That is the real issue- you all believe that as tax payers you own part of AIG.

Just because the government has an 80% holding in AIG Corp (unrelated to the insurance companies) does not mean you as a taxpayer have any losses or increased taxes unlike the increased taxes we will all pay as a result of this "wonderful" war and HUGE deficit unrelated to the global financial crisis which we all will be paying on until we die!

I have to assume you think the same of the Freddie Mac and Fannie Mae? You own them too?

If the AIG plan unfolds as they expect it should, they would likely have the assets sold before the 2 yr period (which I think everyone hopes happens in the insurance industry). When that happens what will you all say then?

In all the reports I have read and seen on TV, analysts value the businesses AIG's selling far more than the amount they borrowed from the government. And again, mark to market increases on the mortgage losses will improve their gains versus increase their losses, stop any additional borrowing and increase the value of CDSs when they come to maturity which can then be sold at a better FMV.

Paulson is a hard-*** and the AIG bridge loan would have never happened if the Fed did not have complete confidence in AIG. He was quoted that the government is not a bank for troubled companies. The Fed did not help many banks. Look at how many banks failed. The Fed could have helped Lehman too but they let Lehman fail because they did not believe they had a solid plan. The helped AIG because it was for the good of the global economy and they had a solid plan.

We are not talking about AIG pulling up to the bank and taking out a small loan here. It's $85B plus the securities liquidity deal of what $35B. We are talking about high level people in our government scribing a loan with stiff penalities and high interest to help the government make money too!

AIG is trying to do the right thing and it is all of you nay-sayers and AIG haters or misinformed people that continue to spread misguided information and for that matter hate of AIG.

AIG did a lot of great things to help my customers over the years. While semi-retired now, I know they continue to do great things in my marketplace despite all the market turbulence. They could have backed off but they didn't! They try harder for agents, financial planners, and customers inspite of the market turmoil. They stand a bit beaten but proud, hard-working people.