I’ve never read so much double talk in my lift. The actions of the AIG Financial Division with derivitives based on sub-prime mortgages brought the largest Commercial Insurance Company in the world to it’s knees and we were told that they had to be bailed out by the government to avoid a worldwide financial collapse. Who has analyzed and knows all of the domino effects that it created? Economists love to set up paper soldiers that they can knock down for their own purposes. Some outfits made billions on other investors misfortunes by going short on the sub-prime guarantees. In finance, usually when someone wins big, someone else loses big. The wealth has to come from somewhere. It’s not manufactured it’s transferred. Someone should be regulating difficlut to understand transactions such as derivitives when they can effect the solvency of large corporations and the entire world economy.
Now if you’d get your fingers out of your ears and listen for a bit…
“AIG Financial Products Division” is separate from “AIG Insurance Services” This has been repeated time and again, yet people still don’t listen. AIG was an umbrella company, with hundreds of subsidiary companies that offered services from mortgages & other financial services to insurance.
You’ll note that the Insurance divisions are still around and quite healthy.
I’ve never read so much double talk in my lift. The actions of the AIG Financial Division with derivitives based on sub-prime mortgages brought the largest Commercial Insurance Company in the world to it’s knees and we were told that they had to be bailed out by the government to avoid a worldwide financial collapse. Who has analyzed and knows all of the domino effects that it created? Economists love to set up paper soldiers that they can knock down for their own purposes. Some outfits made billions on other investors misfortunes by going short on the sub-prime guarantees. In finance, usually when someone wins big, someone else loses big. The wealth has to come from somewhere. It’s not manufactured it’s transferred. Someone should be regulating difficlut to understand transactions such as derivitives when they can effect the solvency of large corporations and the entire world economy.
Now if you’d get your fingers out of your ears and listen for a bit…
“AIG Financial Products Division” is separate from “AIG Insurance Services” This has been repeated time and again, yet people still don’t listen. AIG was an umbrella company, with hundreds of subsidiary companies that offered services from mortgages & other financial services to insurance.
You’ll note that the Insurance divisions are still around and quite healthy.