AIG Dejavu

[Enorah]

[quote=patientrenter][quote=Enorah]It is a curious question

Why throw money at ghosts?

I guess we will soon find the answer out.[/quote]

Enorah, AIG took hundreds of billions of dollars from people in return for a promise to pay them something back (like the retirement income from an annuity, or the death benefit from a life insurance policy, or compensation for losses under a home insurance contract, or..). And, yes, some of the contracts AIG made were credit default swaps with hedge funds and other banks etc.

If they fail to make those payments, regular customers will be very angry – and they vote – and more hedge funds and banks and other institutions will lose another fig leaf covering their bankuptcy.[/quote]

I was kind of being sarcastic, patient renter

I get it.

I know how that world operates.

[afx114]

AIG insures everything. They insure oil rigs in the gulf against damage from storms. They insure airlines against losses caused by crashes. They insure Joe Sixpack against him crashing his car. They insure Jane Sixpack against her house burning down. Unfortunately, they also insured against all of the credit default swaps. That will be the death of them just as it has been the death of this economy. Unfortunately, it’s also going to take down the oil companies, airlines, and Joe & Jane Sixpacks with them.

Any business or individual that relies on insurance to operate will go down if AIG goes down. I’m not a fan of all of these cash injections, but what other options are there?

[afx114]

AIG insures everything. They insure oil rigs in the gulf against damage from storms. They insure airlines against losses caused by crashes. They insure Joe Sixpack against him crashing his car. They insure Jane Sixpack against her house burning down. Unfortunately, they also insured against all of the credit default swaps. That will be the death of them just as it has been the death of this economy. Unfortunately, it’s also going to take down the oil companies, airlines, and Joe & Jane Sixpacks with them.

Any business or individual that relies on insurance to operate will go down if AIG goes down. I’m not a fan of all of these cash injections, but what other options are there?

[afx114]

AIG insures everything. They insure oil rigs in the gulf against damage from storms. They insure airlines against losses caused by crashes. They insure Joe Sixpack against him crashing his car. They insure Jane Sixpack against her house burning down. Unfortunately, they also insured against all of the credit default swaps. That will be the death of them just as it has been the death of this economy. Unfortunately, it’s also going to take down the oil companies, airlines, and Joe & Jane Sixpacks with them.

Any business or individual that relies on insurance to operate will go down if AIG goes down. I’m not a fan of all of these cash injections, but what other options are there?

[afx114]

AIG insures everything. They insure oil rigs in the gulf against damage from storms. They insure airlines against losses caused by crashes. They insure Joe Sixpack against him crashing his car. They insure Jane Sixpack against her house burning down. Unfortunately, they also insured against all of the credit default swaps. That will be the death of them just as it has been the death of this economy. Unfortunately, it’s also going to take down the oil companies, airlines, and Joe & Jane Sixpacks with them.

Any business or individual that relies on insurance to operate will go down if AIG goes down. I’m not a fan of all of these cash injections, but what other options are there?

[afx114]

AIG insures everything. They insure oil rigs in the gulf against damage from storms. They insure airlines against losses caused by crashes. They insure Joe Sixpack against him crashing his car. They insure Jane Sixpack against her house burning down. Unfortunately, they also insured against all of the credit default swaps. That will be the death of them just as it has been the death of this economy. Unfortunately, it’s also going to take down the oil companies, airlines, and Joe & Jane Sixpacks with them.

Any business or individual that relies on insurance to operate will go down if AIG goes down. I’m not a fan of all of these cash injections, but what other options are there?

[AK]

Now Hank Greenberg is suing AIG, the corporation he helped run into the ground, on the grounds that — get this — as a shareholder he was misled by the company’s management.

Makes you think of the old joke about the guy who killed his parents, then asked for mercy because he was an orphan.

http://biz.yahoo.com/ap/090302/aig_greenberg.html

[AK]

Now Hank Greenberg is suing AIG, the corporation he helped run into the ground, on the grounds that — get this — as a shareholder he was misled by the company’s management.

Makes you think of the old joke about the guy who killed his parents, then asked for mercy because he was an orphan.

http://biz.yahoo.com/ap/090302/aig_greenberg.html

[AK]

Now Hank Greenberg is suing AIG, the corporation he helped run into the ground, on the grounds that — get this — as a shareholder he was misled by the company’s management.

Makes you think of the old joke about the guy who killed his parents, then asked for mercy because he was an orphan.

http://biz.yahoo.com/ap/090302/aig_greenberg.html

[AK]

Now Hank Greenberg is suing AIG, the corporation he helped run into the ground, on the grounds that — get this — as a shareholder he was misled by the company’s management.

Makes you think of the old joke about the guy who killed his parents, then asked for mercy because he was an orphan.

http://biz.yahoo.com/ap/090302/aig_greenberg.html

[AK]

Now Hank Greenberg is suing AIG, the corporation he helped run into the ground, on the grounds that — get this — as a shareholder he was misled by the company’s management.

Makes you think of the old joke about the guy who killed his parents, then asked for mercy because he was an orphan.

http://biz.yahoo.com/ap/090302/aig_greenberg.html

[Arraya]

AIG has a very interesting history. They started as an OSS (office of strategic services) operation. They have secrets, lots of secrets.

http://articles.latimes.com/2000/sep/22/news/mn-25118
They knew which factories to burn, which bridges to blow up, which cargo ships could be sunk in good conscience. They had pothole counts for roads used for invasion and head counts for city blocks marked for incineration.

They weren’t just secret agents. They were secret insurance agents. These undercover underwriters gave their World War II spymasters access to a global industry that both bankrolled and, ultimately, helped bring down Adolf Hitler’s Third Reich.

Newly declassified U.S. intelligence files tell the remarkable story of the ultra-secret Insurance Intelligence Unit, a component of the Office of Strategic Services, a forerunner of the CIA, and its elite counterintelligence branch X-2.

snip

Starr sent insurance agents into Asia and Europe even before the bombs stopped falling and built what eventually became AIG, which today has its world headquarters in the same downtown New York building where the tiny OSS unit toiled in the deepest secrecy.

Starr died in 1968, but his empire endures. AIG is the biggest foreign insurance company in Japan. More than a third of its $40 billion in revenue last year came from the Far East theater that Starr helped carpet bomb and liberate.

[Arraya]

AIG has a very interesting history. They started as an OSS (office of strategic services) operation. They have secrets, lots of secrets.

http://articles.latimes.com/2000/sep/22/news/mn-25118
They knew which factories to burn, which bridges to blow up, which cargo ships could be sunk in good conscience. They had pothole counts for roads used for invasion and head counts for city blocks marked for incineration.

They weren’t just secret agents. They were secret insurance agents. These undercover underwriters gave their World War II spymasters access to a global industry that both bankrolled and, ultimately, helped bring down Adolf Hitler’s Third Reich.

Newly declassified U.S. intelligence files tell the remarkable story of the ultra-secret Insurance Intelligence Unit, a component of the Office of Strategic Services, a forerunner of the CIA, and its elite counterintelligence branch X-2.

snip

Starr sent insurance agents into Asia and Europe even before the bombs stopped falling and built what eventually became AIG, which today has its world headquarters in the same downtown New York building where the tiny OSS unit toiled in the deepest secrecy.

Starr died in 1968, but his empire endures. AIG is the biggest foreign insurance company in Japan. More than a third of its $40 billion in revenue last year came from the Far East theater that Starr helped carpet bomb and liberate.

[Arraya]

AIG has a very interesting history. They started as an OSS (office of strategic services) operation. They have secrets, lots of secrets.

http://articles.latimes.com/2000/sep/22/news/mn-25118
They knew which factories to burn, which bridges to blow up, which cargo ships could be sunk in good conscience. They had pothole counts for roads used for invasion and head counts for city blocks marked for incineration.

They weren’t just secret agents. They were secret insurance agents. These undercover underwriters gave their World War II spymasters access to a global industry that both bankrolled and, ultimately, helped bring down Adolf Hitler’s Third Reich.

Newly declassified U.S. intelligence files tell the remarkable story of the ultra-secret Insurance Intelligence Unit, a component of the Office of Strategic Services, a forerunner of the CIA, and its elite counterintelligence branch X-2.

snip

Starr sent insurance agents into Asia and Europe even before the bombs stopped falling and built what eventually became AIG, which today has its world headquarters in the same downtown New York building where the tiny OSS unit toiled in the deepest secrecy.

Starr died in 1968, but his empire endures. AIG is the biggest foreign insurance company in Japan. More than a third of its $40 billion in revenue last year came from the Far East theater that Starr helped carpet bomb and liberate.

[Arraya]

AIG has a very interesting history. They started as an OSS (office of strategic services) operation. They have secrets, lots of secrets.

http://articles.latimes.com/2000/sep/22/news/mn-25118
They knew which factories to burn, which bridges to blow up, which cargo ships could be sunk in good conscience. They had pothole counts for roads used for invasion and head counts for city blocks marked for incineration.

They weren’t just secret agents. They were secret insurance agents. These undercover underwriters gave their World War II spymasters access to a global industry that both bankrolled and, ultimately, helped bring down Adolf Hitler’s Third Reich.

Newly declassified U.S. intelligence files tell the remarkable story of the ultra-secret Insurance Intelligence Unit, a component of the Office of Strategic Services, a forerunner of the CIA, and its elite counterintelligence branch X-2.

snip

Starr sent insurance agents into Asia and Europe even before the bombs stopped falling and built what eventually became AIG, which today has its world headquarters in the same downtown New York building where the tiny OSS unit toiled in the deepest secrecy.

Starr died in 1968, but his empire endures. AIG is the biggest foreign insurance company in Japan. More than a third of its $40 billion in revenue last year came from the Far East theater that Starr helped carpet bomb and liberate.

[Author]

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