Icahn scared Hancock to death and he decided to do pretty much what Icahn wanted him to do. By the way, they should divest everything mortgage related. That is how they got in so much trouble to start with.
If you have no clue what you are talking about why comment? Mortgage backed securities were not the whole story in what befell AIG a few years ago. BTW AIG paid back all of the bailout – plus interest – and is 1 of only what 2 companies that did so under TARP. Mr. Hancock has some more to accomplish during his reign but AIG is in VERY good shape.
Um…AIG was not the recipient of any TARP funds. The AIG funds, similar to the Fannie and Freddie bailouts, were separate programs. Btw, Fannie and Freddie have also paid back the government loans, and then some.
As for TARP, almost every major bank that received funds paid them back. Some of the banks, i.e. JPM, took the money at the government’s because the government insisted, even though their balance sheet was not in peril.
I always wondered about how well Icahn knew about what he was getting into with his huge investment in AIG. This statement says it all:
AIG has “a good P&C company,” Icahn said Tuesday. “The life company itself, yeah, I think part of that life company should be sold, certainly part of it in Japan.”
Just how much experience does Icahn have in the P&C business to make such a judgment? Good luck Carl.
So he didn’t take his basketball and go home!
Icahn scared Hancock to death and he decided to do pretty much what Icahn wanted him to do. By the way, they should divest everything mortgage related. That is how they got in so much trouble to start with.
If you have no clue what you are talking about why comment? Mortgage backed securities were not the whole story in what befell AIG a few years ago. BTW AIG paid back all of the bailout – plus interest – and is 1 of only what 2 companies that did so under TARP. Mr. Hancock has some more to accomplish during his reign but AIG is in VERY good shape.
Um…AIG was not the recipient of any TARP funds. The AIG funds, similar to the Fannie and Freddie bailouts, were separate programs. Btw, Fannie and Freddie have also paid back the government loans, and then some.
As for TARP, almost every major bank that received funds paid them back. Some of the banks, i.e. JPM, took the money at the government’s because the government insisted, even though their balance sheet was not in peril.
I always wondered about how well Icahn knew about what he was getting into with his huge investment in AIG. This statement says it all:
AIG has “a good P&C company,” Icahn said Tuesday. “The life company itself, yeah, I think part of that life company should be sold, certainly part of it in Japan.”
Just how much experience does Icahn have in the P&C business to make such a judgment? Good luck Carl.
Dave, I think Icahn is a pretty sharp cookie and I would bet he had a look at the books and didn’t like what he saw from wonderful AIG.