To Mcheck57
I would get the government out of the marketplace and would have given AIG the same treatment Lehman got – NOTHING! It’s tough medicine but the only way to eliminate risky behavior is to let those who act in such a manner know there will be no more government bail-outs.
reaper-you need to look at the much bigger picture.
2nd- Filing bankrupcy (chaper 11) would NOT kill the company. It WOULD hurt those it owes money too and the people of the divisions that put them into this position.
Under chapter 11 they could have DUMPED all the obligations of outstanding policies of those division, fired the employees of those divisions and then go on their merry way.
Many clients would have been hurt, many 1000’s of people would have been lost their jobs.
Sadly this is a problem that was caused by Mr. Greenberg several years ago. He knew his time at AIG was short as several times the board tried to get him out. He moved a few good money making divisions from AIG to C V Starr. He then leaves AIG and moves into C V Starr.
Sadly there are a lot of twists and turns as to what exactly caused this problem and the solution is actually even more complex.
Unless someone out there actually has a solid solution we should be careful what we post. That same sentiment may just come back to bite you on the A _ _.
Yeah, great news. New York is already broke and the tax-payers get shafted again. What is next from the Gov? Gee, higher taxes!
What would you have done?
To Mcheck57
I would get the government out of the marketplace and would have given AIG the same treatment Lehman got – NOTHING! It’s tough medicine but the only way to eliminate risky behavior is to let those who act in such a manner know there will be no more government bail-outs.
reaper-you need to look at the much bigger picture.
2nd- Filing bankrupcy (chaper 11) would NOT kill the company. It WOULD hurt those it owes money too and the people of the divisions that put them into this position.
Under chapter 11 they could have DUMPED all the obligations of outstanding policies of those division, fired the employees of those divisions and then go on their merry way.
Many clients would have been hurt, many 1000’s of people would have been lost their jobs.
Sadly this is a problem that was caused by Mr. Greenberg several years ago. He knew his time at AIG was short as several times the board tried to get him out. He moved a few good money making divisions from AIG to C V Starr. He then leaves AIG and moves into C V Starr.
Sadly there are a lot of twists and turns as to what exactly caused this problem and the solution is actually even more complex.
Unless someone out there actually has a solid solution we should be careful what we post. That same sentiment may just come back to bite you on the A _ _.
Enjoy the week-end.