Comments on: How’s that AIG unwind going?

By: Sylvia Levitt

Sylvia Levitt — Tue, 19 May 2009 14:26:10 +0000

It was a 2.7 Trillion dollar portfolio that that has been wound down 1.2 trillion dollars to 1.5 trillion dollars. A little fact checking on your part would have been helpful.

By: Don the libertarian Democrat

Don the libertarian Democrat — Mon, 18 May 2009 17:27:33 +0000

“Yeah, well, Dealscape saw this was coming just as we saw back in March that Liddy and the goverment had knowledge about the controversial bonuses in advance.”

Good work, considering this:

“October 16, 2008
Cuomo Seeks Recovery of Bonuses at A.I.G.
By JONATHAN D. GLATER and VIKAS BAJAJ

New York’s attorney general demanded on Wednesday that the American International Group recover bonuses and other payments from its former executives, lest he take formal action against the insurer.”

Also, I pointed out in a post here that if AIG paid money to Citi or any other bank that we were shareholders in, shouldn’t someone at least do an analysis of how that really works out for us?

Also, to the extent that I understand this winding down, doesn’t AIG owe the money or potentially owe the money? Haven’t they been receiving premium payments? Is this another case of “we don’t like you, so we hope you don’t get paid back?”. Why don’t we start a new investment, called “Bald Investments”, where we pray that the investors take massive haircuts or don’t get paid back because we find them offensive to our sense of decorum?

Finally, did you say that you went somewhere?

PS AIG has begun suing businesses that they claim gave them false info about what they were insuring. Since I’m a shareholder, I hope it works.

By: Rich

Rich — Mon, 18 May 2009 16:53:52 +0000

AIG is a cesspool of corruption just like every firm on Wall Street. Heads we win, tails we win all the time raking in ill gotten gains. When are we prosecuting these thieves? PS No one is falling for the sucker rallies a mainstay on Wall Street. Pump and dump. It’s not working anyone… maybe because everyone knows the game is rigged from the top down. Hello Mcfly the market will not recover until it’s cleaned up and the cleaning has not even begun? You can’t make money on sucker rallies when the suckers don’t have a pot to pee in and even if they did they know it’s all smoke and mirrors. Wall Street will cook up some new scheme soon you’ll see keep an eye on your money. For Gods sake Merrill Lynch was pushing their own (soon to be worthless) stock in their own 401k accounts days before they tanked. MSN would interview the CEO then Mad money would pump it up for the sucker rally. I quote him “Its not even illegal” thanks Cramer. Thanks Merrill way to screw your own employees and clients while buoying your toxic stock. Hey wait that’s illegal. PS Merrill is being sued in a class action lawsuit……

By: Griff

Griff — Mon, 18 May 2009 15:52:41 +0000

would this behavior be mildly analogous to a former Treasury secretary endorsing the removal of Glass-Steagal, and then “joining” the senior ranks of an entity who thusly enjoyed the benefits of said removal of that particular barrier? 10 yrs later that firm is in varying states of ruin, but this person is worth an extra $100 million

just gotta wonder…human nature. I mean no disrespect to the former secretary..but seriously it’s not that dissimilar

By: Ken Houghton

Ken Houghton — Mon, 18 May 2009 15:39:19 +0000

“Maybe that’s what happens when you stop paying retention bonuses: your traders stop losing you billions of dollars.”

You mean the Paulson/Geither “Don’t Ask, Don’t Tell” practice of throwing money at people who have shown no skill in managing it Plan may not have been Working Perfectly.

I’m going to steal that one. With attribution, though.