In the movie The Rock, Sean Connery is the only guy who can get in when o one else can. In the movie AIG, Greenberg is Sean Connery,ie, the only real person to fix this mess. The new guy’s tough image will only play so long. Greenberg is tough but he’s the dad.
If AIG makes the largest profits in the history of American commerce for the next 40 consecutive quarters and dedicates 75% of that profit to the payback we could waive the balance and call it done
Just shows that the government had no clue on what they were doing. They are so lost that they will never see the $180 billion ever again and now they are squirming. This will go down as the biggest mistake in US history. Funny on how the government never listens to the people that elect them. For the most part I feel we were all against bailing out any business, not just AIG. We’re smarter than that. Smaller, leaner, harder working companies would have grown and taken over the clients of AIG. However, our elected officials just changed the course of nature, which we know can never win. AIG will still be a sinking ship and we’ll never get repaid. Mark my words, NEVER get repaid the whole $180+ billion!! Thank your elected officials for that.
The line of credit to AIG is $182.5B, they have used $80B. The only thing they have to repay is the $80B.
And the attitude for too big to fail, that came from the elected officials whose pensions are tied up with AIG. Talk about a conflict of interest.
Also, just remember the amount of money that the government has made on Citigroup and Goldman. When the government cashes out of these stocks in 2011 or 2013 they will likely be handsomely rewarded. Not only will the government get paid back by AIG over time, but they will also make a pretty sweet penny on the stock they own in the company. Just a thought…
If anyone remembers the profits the government made during the S&L crisis in the 80s then you will remember that the government does have some business savy.
Many of those elected officials are no longer in the government or Congress…Barney is still there and Dodd but Paulson/Bush et al are long gone and now who gets to clean up? and take much of the blame?
stabilizes? lets see how stable their next earnings call is.
In the movie The Rock, Sean Connery is the only guy who can get in when o one else can. In the movie AIG, Greenberg is Sean Connery,ie, the only real person to fix this mess. The new guy’s tough image will only play so long. Greenberg is tough but he’s the dad.
If AIG makes the largest profits in the history of American commerce for the next 40 consecutive quarters and dedicates 75% of that profit to the payback we could waive the balance and call it done
Otherwise – it is lost money
R.J.
Just shows that the government had no clue on what they were doing. They are so lost that they will never see the $180 billion ever again and now they are squirming. This will go down as the biggest mistake in US history. Funny on how the government never listens to the people that elect them. For the most part I feel we were all against bailing out any business, not just AIG. We’re smarter than that. Smaller, leaner, harder working companies would have grown and taken over the clients of AIG. However, our elected officials just changed the course of nature, which we know can never win. AIG will still be a sinking ship and we’ll never get repaid. Mark my words, NEVER get repaid the whole $180+ billion!! Thank your elected officials for that.
The line of credit to AIG is $182.5B, they have used $80B. The only thing they have to repay is the $80B.
And the attitude for too big to fail, that came from the elected officials whose pensions are tied up with AIG. Talk about a conflict of interest.
Also, just remember the amount of money that the government has made on Citigroup and Goldman. When the government cashes out of these stocks in 2011 or 2013 they will likely be handsomely rewarded. Not only will the government get paid back by AIG over time, but they will also make a pretty sweet penny on the stock they own in the company. Just a thought…
If anyone remembers the profits the government made during the S&L crisis in the 80s then you will remember that the government does have some business savy.
Many of those elected officials are no longer in the government or Congress…Barney is still there and Dodd but Paulson/Bush et al are long gone and now who gets to clean up? and take much of the blame?