on a piece of Lexington business I quoted three months into a new job. The Lex. Dept. Head would not back it off as a courtesy. I had to pay it with a personal check to avoid the policy being cancelled. So everytime I hear AIG bailout I want to scream.
If indeed many of our billions went to bail out Europe and her banks who took too much risk, I hope we have a plan to recover those funds. We are deficit spending at an unprecendented pace, let’s try to keep it here, OK Mr. Geithner, Bernanke & Obama??? Europe is able to take care of this problem with Euros, not dollars that our children must repay at some point.
Enough is enough. A lot of people made mistakes but not everyone gets help because they made bad choices. Most little guys are stuck with their losses and have to live with the cuts. Now let the big gamblers live with their losses too.
WITH PUBLIC FUNDS BEING USED BY A PRIVATE COMPNAY, THE PUBLIC HAS TH ERIGHT TOKNWO WHERE AND HOW MONEY IS USED AS A CONDITIONAL. WE ENCOURAGE SENATOR SHELBY OF ALABAMA TO KEEP HAMMERING ON AIG. SECONDLEY AIG SHOULD COMPLY WITH THE SE REQUEST. AIG IS NOT TOO BIG TO FAIL. AS AN INSURANCE AGENT I SYILL SAY – ENOUGH IS ENOUGH. LET AIG FAIL. THER ARE PLENTLY OF INSURANCE MARKETS WHO WILL PICK UP THE PIECES.
“The Federal Reserve first rode to AIG’s rescue in September with an $85 billion credit line after losses from toxic investments, many of which were mortgage related, and collateral demands from banks, left AIG staring down bankruptcy.”
This is a grossly inaccuirate statement as anyone who saw the Senate hearing can attest. At the hearing it was ade celar the aonly triple A rated securitues were the subject of the AIG credit swaps. It was testifed and agreed by teh witnessses at the hearing, that none of the underlying debt obligations comprising these AAA rated tranches have defaulted. The reason AIG had to cough up billions is because they are contractualy required to do so as their credit rating declines from the Investment Grade level stipulated under the terms of the Credit Swap guarantees. This reveals the incredible stupidity of our Congreessional leaders who clearly do not grasp the fact that they could have saved the taxpayer billions of dollars, and still can, by simply issuing a U.S. governmemet guarantee to support the Credit Swap parties.
Well, I couldn’t help reading and responding to yet another article about AIG. I’m sorry if it sounds like I’m fixated.
But, what a Cast of Characters that have benefitted from the AIG bailout money. Goldman Sachs is right up front …guess that had nothing to do with the fact that the Treasurey Secretary at the time – a pitiful old man that only looks good next to our current pitiful Treasury Secretary.
Folks, I just can’t believe that there isn’t more pure and all-out rage over the looting of our Treasury and billing of our children and grandchildren to come. The entire bailout culture is going to crumble our country soon. The entire me-generation should be ashamed, and one of the biggest problems has been the politicizing of the solutions. Just criminal.
Long story short – I quoted a lower deductible on a piece of comml. property biz than they had. My error. They processed an addl. prem. endt. to bring the deductible down. They would not back off the addl. premium as a courtesy and I ended up taking care of the premium in order to honor my quote.
What was the total premium and what was your commission?
You didn’t have to cut the check for $250 of premium. You could have provided them with the higher deductible policy and then paid the difference in deductible in the event they had a loss. Oh? You don’t want to take that risk for free?
Don’t be so sure of that. They may change the name but AIG as a holding company likely won’t be around long. If you recall, everyone said “it was never the insurance companies that were in question, it was the holding company” Yeah well now both are hurting. The holding company is crippled from AIG financial products and now the insurance companies are losing premium fast. If they’re not flat out losing clients, they’re keeping them at dramatically lower premiums…..big secret right? So what makes you so sure that even if they seperate the insurance companies that either one will survive 6 months from now?
O GOD PLEASE HELP US WAKE UP= WERE GIVING MONEY TO BANKS AND INS . I COULD NOT OF MADE THIS CREAP UP IF I WOULD OF WANT TO. I have a bussness that will go down fast if know one helps me who can A CALL PLEASE SOMEONE HELP ME I HAVE WORK SO HARD PLEASE GOD HELP ME .Melanie
on a piece of Lexington business I quoted three months into a new job. The Lex. Dept. Head would not back it off as a courtesy. I had to pay it with a personal check to avoid the policy being cancelled. So everytime I hear AIG bailout I want to scream.
Sucks to be you…..
How long can they prop this “dead man walking” up?
C’mon Harvey…where’s your heart? Have a little compassion here.
you should have said “It REALLY sucks to be you.”
If indeed many of our billions went to bail out Europe and her banks who took too much risk, I hope we have a plan to recover those funds. We are deficit spending at an unprecendented pace, let’s try to keep it here, OK Mr. Geithner, Bernanke & Obama??? Europe is able to take care of this problem with Euros, not dollars that our children must repay at some point.
Enough is enough. A lot of people made mistakes but not everyone gets help because they made bad choices. Most little guys are stuck with their losses and have to live with the cuts. Now let the big gamblers live with their losses too.
WITH PUBLIC FUNDS BEING USED BY A PRIVATE COMPNAY, THE PUBLIC HAS TH ERIGHT TOKNWO WHERE AND HOW MONEY IS USED AS A CONDITIONAL. WE ENCOURAGE SENATOR SHELBY OF ALABAMA TO KEEP HAMMERING ON AIG. SECONDLEY AIG SHOULD COMPLY WITH THE SE REQUEST. AIG IS NOT TOO BIG TO FAIL. AS AN INSURANCE AGENT I SYILL SAY – ENOUGH IS ENOUGH. LET AIG FAIL. THER ARE PLENTLY OF INSURANCE MARKETS WHO WILL PICK UP THE PIECES.
Stop screaming and learn to spell.
“The Federal Reserve first rode to AIG’s rescue in September with an $85 billion credit line after losses from toxic investments, many of which were mortgage related, and collateral demands from banks, left AIG staring down bankruptcy.”
This is a grossly inaccuirate statement as anyone who saw the Senate hearing can attest. At the hearing it was ade celar the aonly triple A rated securitues were the subject of the AIG credit swaps. It was testifed and agreed by teh witnessses at the hearing, that none of the underlying debt obligations comprising these AAA rated tranches have defaulted. The reason AIG had to cough up billions is because they are contractualy required to do so as their credit rating declines from the Investment Grade level stipulated under the terms of the Credit Swap guarantees. This reveals the incredible stupidity of our Congreessional leaders who clearly do not grasp the fact that they could have saved the taxpayer billions of dollars, and still can, by simply issuing a U.S. governmemet guarantee to support the Credit Swap parties.
I got it!
Let’s solve General motors the same as AIG!
Give GM %150 Billion more….
Then when GM sells cars @ 20 – 40 % less than other auto companies
They can come back and ask for $20 Billion more to help them stay in biz……….
At least ONE of our car companies would compete in the ” FREE” marketplace
just an Idea
like I said AIG is still here…and will be again tomorrow…not your last quote error to be sure.not your last whine either!
Isnt what you did called rebating? Isnt that illegal?
And how is that in the insureds favor?
Was It gary Scarborough who would not back down on the mistake at the LEX?
I believe her name was Hillary Clinton.
absolutely right
Well, I couldn’t help reading and responding to yet another article about AIG. I’m sorry if it sounds like I’m fixated.
But, what a Cast of Characters that have benefitted from the AIG bailout money. Goldman Sachs is right up front …guess that had nothing to do with the fact that the Treasurey Secretary at the time – a pitiful old man that only looks good next to our current pitiful Treasury Secretary.
Folks, I just can’t believe that there isn’t more pure and all-out rage over the looting of our Treasury and billing of our children and grandchildren to come. The entire bailout culture is going to crumble our country soon. The entire me-generation should be ashamed, and one of the biggest problems has been the politicizing of the solutions. Just criminal.
That’s all,
Long story short – I quoted a lower deductible on a piece of comml. property biz than they had. My error. They processed an addl. prem. endt. to bring the deductible down. They would not back off the addl. premium as a courtesy and I ended up taking care of the premium in order to honor my quote.
They would not back off the addl. premium as a courtesy and I ended up taking care of the premium in order to honor my quote.
_____________________
Isnt that illegal? Rebating.
Sorry, NBOB by AIG, but that does sound like rebating.
What was the total premium and what was your commission?
You didn’t have to cut the check for $250 of premium. You could have provided them with the higher deductible policy and then paid the difference in deductible in the event they had a loss. Oh? You don’t want to take that risk for free?
AIU Holdings is all I have to say. Keep whining sally’s. They may change the names, but it aint going anywhere.
Don’t be so sure of that. They may change the name but AIG as a holding company likely won’t be around long. If you recall, everyone said “it was never the insurance companies that were in question, it was the holding company” Yeah well now both are hurting. The holding company is crippled from AIG financial products and now the insurance companies are losing premium fast. If they’re not flat out losing clients, they’re keeping them at dramatically lower premiums…..big secret right? So what makes you so sure that even if they seperate the insurance companies that either one will survive 6 months from now?
O GOD PLEASE HELP US WAKE UP= WERE GIVING MONEY TO BANKS AND INS . I COULD NOT OF MADE THIS CREAP UP IF I WOULD OF WANT TO. I have a bussness that will go down fast if know one helps me who can A CALL PLEASE SOMEONE HELP ME I HAVE WORK SO HARD PLEASE GOD HELP ME .Melanie