sold literally everything I own this morning. Sick of losing money and it won't get better any time soon. Also thinking about cashing out IRAs, paying the taxes and investing it on my own. I can make 10%+ annual returns on rental income streams from real estate all day long without the risk.
what do you suppose will happen to wholly owned subsidiaries? For example, san diego based "Matrix Direct", term life insurance direct marketer... a wholly owned subsidiary that brokers 9 major insurance carriers including AIG but they are in fact an AIG company. I'm guessing some other finance company buys out the subsidiares?
I wonder how it affects employees... I know many people over there. I guess just new ownership eventually. Any foresight on something like that?
I wonder how it affects employees... I know many people over there. I guess just new ownership eventually. Any foresight on something like that?
they will be sold off and survive with another company (well at least for now)
aig treated their financial arm like an investment bank and is in so deep its not even funny
they will sell everything off to attempt to gain enough cash to unwind all that shit in an orderly manner.....and the taxpayer will be on the hook for anything they can't cover with all their assets they sell....
maybe i'm wrong and AIG will survive and have enough value in good assets to offset the bad ones and will only have to chop of 50% or something of its good assets to clean it up....i just don't see it though since they tried so hard to find a buyer but nobody would take it....if it had a postive net value i don't see why somebody wouldn't have bought it for next to nothing....i think their marks on their CDS trash is way way off......stock market still saying its still worth something for today at least.....flat line in the low 2s all day...
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The one thing I learned from the Dcom crash is to follow your own instincts and make your own decisions. Many of us have seen previews of this movie though not on the same level with the special effects promised with this US Dollar death drama. The unimpressive weak testimony by Paulson and Bernanke has shaken me into considering joining fhmesq44 into jumping out, anticipating that these treasury-looters will only haul out a hundred of the seven hundred billion they 'played' for. Every day that sun keeps coming up in the morning is a day squeezing past the greasy gears of the shock doctrine of the impending Wall St collapse allowing congress to escape as populist guardians of the vault. What a surprise the dipshit Bush administ overplayed their last act maladroit greedy treasury-looting hand. Thankfully they are not going to steal their bailout money but I expect worldwide reactions to punish my meager mutuals. I will continue with my AIG car insurance (they covered my hurricane-swamped car with an honest deal) and hope they uncouple the investment side of the conglomerate enough to save the company without US taxpayer bailouts.
