Maurice Hank Greenberg is one of the worst things to hit our great industry. As Trump & Wells: greedy, dishonest, unethical, liar, cheater, manipulator, a cancer to our industry. Re The Big Short:
The entire ’08 burst bubble was caused by the credit default swaps which AIG used & by their fake “insurance” supposedly “covering” bundles of securitized mortgages. He ruined AIG, he ruined an industry, and he’s ruining the insurance world. He’ll lose this NY case, and he will die with a deservedly horrible reputation.
Private Equity Firms do this all the time with Wholesalers. Wholesalers are making profits but private equity looses money elsewhere so unloads debt into wholesalers numbers.
Pretty ignorant assesment to say the least. The Big Short is also what’s called sensationalism journalism. Michael Lewis sole intent is to create a feeling of rage amongst the uninfomred, unsophicated non-investor types like yourself while feeding his own profit motive and bottom line. In the process, he does nothing to fuse tense relations in society. Instead he just enforces further divisiness amongst the masses in his own pursuit of profit.
You then read his book and think you’re a market wizard who has it all figured out. Not to mention Lewis is pretty manipulative and insincere in his own diagonsis of the issues that led to the crises (he does this knowingly too). He never goes into the core of what caused this debacle, which was the government and federal reserves own policies (See Community Reinvestment Act).
Fact of the matter is unless you personally sit atop of the board of a publicly traded company and know the pressures these people are faced with day to day then you’re no one to judge while you sit high and mighty behind your keyboard.
Hank Greenberg has insured and saved millions of people personally from financial disaster as well as small and mid-sized businesses. It’s also important to note he created the AIG Financial Products group, but under his regin the issuance and orgination of the Credit Default Swap produt wasn’t even a quarter of it’s total portfolio size after his resignation from the company. Sal Fasano was responsible for the expotential growth in the issuance of that product.
Again, I think it’s very easy to judge when you’re not the man in the room and can easily and ignorantly look past all social good the man did like create millions of jobs, critically assist in the securing free trade with foreign nations helping to lift them out of grinding poverty (China etc..). The millions upon millions of dollars he donates to charitable causes that fight cancer, and life devasting diseases etc..Maybe you should read up on those things as well.
Maurice Hank Greenberg is one of the worst things to hit our great industry. As Trump & Wells: greedy, dishonest, unethical, liar, cheater, manipulator, a cancer to our industry. Re The Big Short:
The entire ’08 burst bubble was caused by the credit default swaps which AIG used & by their fake “insurance” supposedly “covering” bundles of securitized mortgages. He ruined AIG, he ruined an industry, and he’s ruining the insurance world. He’ll lose this NY case, and he will die with a deservedly horrible reputation.
Private Equity Firms do this all the time with Wholesalers. Wholesalers are making profits but private equity looses money elsewhere so unloads debt into wholesalers numbers.
Pretty ignorant assesment to say the least. The Big Short is also what’s called sensationalism journalism. Michael Lewis sole intent is to create a feeling of rage amongst the uninfomred, unsophicated non-investor types like yourself while feeding his own profit motive and bottom line. In the process, he does nothing to fuse tense relations in society. Instead he just enforces further divisiness amongst the masses in his own pursuit of profit.
You then read his book and think you’re a market wizard who has it all figured out. Not to mention Lewis is pretty manipulative and insincere in his own diagonsis of the issues that led to the crises (he does this knowingly too). He never goes into the core of what caused this debacle, which was the government and federal reserves own policies (See Community Reinvestment Act).
Fact of the matter is unless you personally sit atop of the board of a publicly traded company and know the pressures these people are faced with day to day then you’re no one to judge while you sit high and mighty behind your keyboard.
Hank Greenberg has insured and saved millions of people personally from financial disaster as well as small and mid-sized businesses. It’s also important to note he created the AIG Financial Products group, but under his regin the issuance and orgination of the Credit Default Swap produt wasn’t even a quarter of it’s total portfolio size after his resignation from the company. Sal Fasano was responsible for the expotential growth in the issuance of that product.
Again, I think it’s very easy to judge when you’re not the man in the room and can easily and ignorantly look past all social good the man did like create millions of jobs, critically assist in the securing free trade with foreign nations helping to lift them out of grinding poverty (China etc..). The millions upon millions of dollars he donates to charitable causes that fight cancer, and life devasting diseases etc..Maybe you should read up on those things as well.