Agent-if we still had a free enterprise system in the US, you would be right about the Titanic. However in our brave new world of corporate fascism, Chartis/AIG is too big to fail & will be rescued again by the Fed. Let’s not forget that AIG is nearly 80% owned by the US government. It is a disgrace to our industry that none of the other insurance company executives, that behaved responsibly will speak out against AIG & how it is crippling their ability to be profitable. Over the next several years, many of these companies will be reduced to a fraction of their size or be gone entirely.
It seems to be reshuffling the deck chairs on the Titanic.
Agent-if we still had a free enterprise system in the US, you would be right about the Titanic. However in our brave new world of corporate fascism, Chartis/AIG is too big to fail & will be rescued again by the Fed. Let’s not forget that AIG is nearly 80% owned by the US government. It is a disgrace to our industry that none of the other insurance company executives, that behaved responsibly will speak out against AIG & how it is crippling their ability to be profitable. Over the next several years, many of these companies will be reduced to a fraction of their size or be gone entirely.