How times change….Eliott Spitzer was taking back millions from AIG a few years back, now the State of NY Governor Paterson will be giving it back and then some.
When fixed assets are pledged with the permission of the stste official who will make up any shortfall that may impair the fixed guarantees of pricipal to fixed annuity holders. Is it possible these assets are recognized to be above and beyond what is needed? As my client asks me “what should I do” I will ask myself first where was the underwriting on the risk that got the company in this mess in the first place?
the company
This is perfect example why Fed/national regulation is needed.. Is the New York dept acting on behalf of NY employees & taxes to allow this. If the fail NY made the mistake of allowing $20 billion to be taken out and had no concern for other states!
Really….they’re going to use policyholder assets to make payroll and stuff? That’s just not a good situation at all.
How times change….Eliott Spitzer was taking back millions from AIG a few years back, now the State of NY Governor Paterson will be giving it back and then some.
When fixed assets are pledged with the permission of the stste official who will make up any shortfall that may impair the fixed guarantees of pricipal to fixed annuity holders. Is it possible these assets are recognized to be above and beyond what is needed? As my client asks me “what should I do” I will ask myself first where was the underwriting on the risk that got the company in this mess in the first place?
the company
This is perfect example why Fed/national regulation is needed.. Is the New York dept acting on behalf of NY employees & taxes to allow this. If the fail NY made the mistake of allowing $20 billion to be taken out and had no concern for other states!