I knew when the decision came down the other day that it was too good to believe that Hank would be out of the news for awhile. now we will get to read about him again for the next 10 years. (even if he is 90)
Give it up Hank. Face it without the bailout you would have lost 100% of your investment, not 98%. If you didn’t like the terms of the bailout, you should have let the ship sink with you in it. I’m tired of this story and Hank’s antics.
The court has already determined that the stockholders lost less than they would have if not for the bailout. There is no compensation due. The court should declare this case as frivolous. Let Hank pay all court costs and attorney fees for both sides.
I think all other AIG competitors should sue the govt for propping up one of their competitors and keeping insurance rates artificially low through the strong arm of the govt. Had AIG gone bankrupt plenty of other insurers would have been able to handle that business.
Everyone seems to have selective memory about this. The one thing that was unquestionably strong at AIG was their “real”, regulated, insurance businesses and book.
And, even in a bankruptcy, those regulated insurance companies would not have been part of any liquidation. The statutes specifically protect them from that. The US government took particular pains during the crisis to state this fact, and that the regulated insurance was rock solid. They went so far as to have the regulated insurance companies be managed outside the AIG board’s control.
“Everyone seems to have selective memory about this. The one thing that was unquestionably strong at AIG was their “real”, regulated, insurance businesses and book.”
Really? Then why in the midst of the bailout when everybody was watching this bright shiny object over here (the collapse and subsequent bailout) AIG went ahead and used a good portion of that bailout money to increase their loss reserves on their “unquestionably strong real and regulated insurance business” to the tune of over $10 billion in 2009 and 2010 (bigger than most insurance companies)? I think there are others who also have selective memories or were too busy watching this bright shiny thing over here.
No, AIG’s insurance book is nothing like you describe it. After decades of under pricing business and under-reserving losses their insurance business also blew up, you just didn’t see it.
To quote Dilbert, “[AIG Haters] misinterpret every comment you make as an absurd absolute and then attack it like you are a moron.”
Let me repeat the important part of the statement, and if you are somehow offended by the words ‘rock solid’, use the words regulators used instead: “financially strong”.
“And, even in a bankruptcy, those regulated insurance companies would not have been part of any liquidation. The statutes specifically protect them from that. The US government took particular pains during the crisis to state this fact, and that the regulated insurance was ‘financially strong’. They went so far as to have the regulated insurance companies be managed outside the AIG board’s control.”
Booyah!
And, let the whining comments begin…
I knew when the decision came down the other day that it was too good to believe that Hank would be out of the news for awhile. now we will get to read about him again for the next 10 years. (even if he is 90)
Give it up Hank. Face it without the bailout you would have lost 100% of your investment, not 98%. If you didn’t like the terms of the bailout, you should have let the ship sink with you in it. I’m tired of this story and Hank’s antics.
Dave, we have been tired of AIG and Hank for many years. He will probably be buried with all his lawsuits still pending in the coffin.
The court has already determined that the stockholders lost less than they would have if not for the bailout. There is no compensation due. The court should declare this case as frivolous. Let Hank pay all court costs and attorney fees for both sides.
I think all other AIG competitors should sue the govt for propping up one of their competitors and keeping insurance rates artificially low through the strong arm of the govt. Had AIG gone bankrupt plenty of other insurers would have been able to handle that business.
Everyone seems to have selective memory about this. The one thing that was unquestionably strong at AIG was their “real”, regulated, insurance businesses and book.
And, even in a bankruptcy, those regulated insurance companies would not have been part of any liquidation. The statutes specifically protect them from that. The US government took particular pains during the crisis to state this fact, and that the regulated insurance was rock solid. They went so far as to have the regulated insurance companies be managed outside the AIG board’s control.
“Everyone seems to have selective memory about this. The one thing that was unquestionably strong at AIG was their “real”, regulated, insurance businesses and book.”
Really? Then why in the midst of the bailout when everybody was watching this bright shiny object over here (the collapse and subsequent bailout) AIG went ahead and used a good portion of that bailout money to increase their loss reserves on their “unquestionably strong real and regulated insurance business” to the tune of over $10 billion in 2009 and 2010 (bigger than most insurance companies)? I think there are others who also have selective memories or were too busy watching this bright shiny thing over here.
No, AIG’s insurance book is nothing like you describe it. After decades of under pricing business and under-reserving losses their insurance business also blew up, you just didn’t see it.
To quote Dilbert, “[AIG Haters] misinterpret every comment you make as an absurd absolute and then attack it like you are a moron.”
Let me repeat the important part of the statement, and if you are somehow offended by the words ‘rock solid’, use the words regulators used instead: “financially strong”.
“And, even in a bankruptcy, those regulated insurance companies would not have been part of any liquidation. The statutes specifically protect them from that. The US government took particular pains during the crisis to state this fact, and that the regulated insurance was ‘financially strong’. They went so far as to have the regulated insurance companies be managed outside the AIG board’s control.”
I can hear Greenburg now, ‘Bah, Hum Bug!’ The US gov’t saved the world from economic turmoil of 2008. Hank’s dealings forced many to loose their jobs.
Happy days are here again!