AIG struggles to survive financial tsunami

[RootDKJ]

took a beating today...total portfolio down over 4%

great time to buy however

 

[GrilledSteezeSandwich]

took a beating today...total portfolio down over 4%

great time to buy however

Wow...That's quite a one day loss..has your total portfolio ever gone up over four percent in a day?

 

[RootDKJ]

yes, but not in a long time. this is the biggest one day drop I can remember

 

[GrilledSteezeSandwich]

yes, but not in a long time. this is the biggest one day drop I can remember

Were you around in the 80s when the Savings and Loan crashed??

 

[RootDKJ]

Yeah...in middle school lol

 

[GrilledSteezeSandwich]

Yeah...in middle school lol

I was in 3rd grade,,but I had slicked back hair and wanted to be the next Donald Trump..lol..I was making mad loot in Disney back in my paper-route days...register.com was a good one in college for a few hours..lol..no more day trading for GSS..I have better luck in online poker..

 

[RootDKJ]

day trading takes too much effort for me. i tend to plan more long term

i had some darn wacky hair back then also...good times

 

[GrilledSteezeSandwich]

day trading takes too much effort for me. i tend to plan more long term

i had some darn wacky hair back then also...good times

I once had a flat top fade..lol

 

[RootDKJ]

mullet...in NJ...big hit

 

[GrilledSteezeSandwich]

mullet...in NJ...big hit

I bet that kid with the mullet back in the Garden State would have never imagined being ho hum about losing thousands of dollars in the market..lol

 

[RootDKJ]

hell no, he was a bit of a punk with good taste in music

 

[thetrailboss]

VPR ran a story this morning about the crisis and its impact on the state. AIG and Stowe were mentioned....someone had said in another room that if the right buyer came, things could be interesting...

Maybe Les Otten will try to make comeback since his bid for SR fell flat on its face last year.

 

[deadheadskier]

I don't think people should get life in prison for financial stuff

I MOST CERTAINLY think that white collar criminals should get the heaviest book on earth thrown at them. THOUSANDS of people, not just employees, lost their retirements with the Enron Scandal as one example.

You got people in jail for many years for slinging a few 8 balls, yet most white collar crooks whose crimes wreak far more damage on far more innocent people get a slap on the wrist and sent off to a country club prison for a year.

 

[eastcoastpowderhound]

I MOST CERTAINLY think that white collar criminals should get the heaviest book on earth thrown at them. THOUSANDS of people, not just employees, lost their retirements with the Enron Scandal as one example.

You got people in jail for many years for slinging a few 8 balls, yet most white collar crooks whose crimes wreak far more damage on far more innocent people get a slap on the wrist and sent off to a country club prison for a year.

I agree...they get little to no time and when they get out they've still got their millions and millions. A "fine" isn't going to scare them neither is a six month stint at a federal country club...10-20 in general population would.

 

[Marc]

I MOST CERTAINLY think that white collar criminals should get the heaviest book on earth thrown at them. THOUSANDS of people, not just employees, lost their retirements with the Enron Scandal as one example.

You got people in jail for many years for slinging a few 8 balls, yet most white collar crooks whose crimes wreak far more damage on far more innocent people get a slap on the wrist and sent off to a country club prison for a year.

I wholeheartedly agree with the sentiment, but I'm still baffled how many people think it's OK to bank the entire or a large portion of their retirement on one company. It is an idiotic mistake of epic proportions.

 

[Moe Ghoul]

Wall street crooks should be flogged with a rubber hose in public and disgorged of every cent they can find and continue garnishing them until the debt is repaid. That includes the money they were gonna use for the high priced lawyer. You'd be amazed how quickly they'd fly straight.

 

[deadheadskier]

I wholeheartedly agree with the sentiment, but I'm still baffled how many people think it's OK to bank the entire or a large portion of their retirement on one company. It is an idiotic mistake of epic proportions.

kind of depends

if you're an outside investor, and numerous people were in the case of Enron, then yes, kind of stupid. However, for an employee who gets offered a sweet IPO, I could see some people taking that gamble. It can work both ways. Take Google for instance who had an IPO of I think around $85 (probably lower for employees) and now is hovering around $450. People only put in a little bit, would probably be kicking themselves.

Not disagreeing that diversification is the way to go, but do see how some can go 'all in' under certain circumstances. Maybe they're good poker players :lol:

 

[billski]

we discussed this before and concluded the net asset value of Stowe is so puny compared to the assets AIG needs to unload that Stowe will only be an after-thought.

Besides, Greenberg (former head of AIG with a house in Stowe) still needs a playground for himself and current/former execs. You don't think any of those boys will be deposed without a huge parachute now do you?

 

[Moe Ghoul]

Nobody's gonna touch any AIG assets until they go into receivership or get the loan. LEH tried to sell assets and nobody wanted to touch it with out guarantees.

 

[Warp Daddy]

Bastids all of 'em !!!

Damn corporate greedhogs deserve a special place in HELL. Many people were ruined by these filthy swine