AIG struggles to survive financial tsunami

[ctenidae]

Stop taking away my dreams. Just because FM was smart enough to stay insurance (Lord knows why an insurance company would want to focus on insurance...?) doesn't mean we shouldn't get a piece of that sweet taxpayer pie.

And yes, I'd like that on a silver platter.


That or a big fat tax rebate if/when AIG recovers and starts turning a profit.

We were just talking here- Paulson just pulled off a massive LBO- they bought a control stake in the company (with a fat wad of leverage), they're replacing management (named Liddy, a "special operating partner" at Clayton, Dubilier, and Rice, old hands at nasty turnarounds, as CEO), they'll hold it for a few years, then sell it out at a tidy profit. I think this is really the largest LBO ever.

 

[Marc]

Maybe... but if AIG repays the treasury, I don't see it working it's way back to my wallet.

 

[ctenidae]

Maybe... but if AIG repays the treasury, I don't see it working it's way back to my wallet.

Probably not. Except, if the Fed can turn a profit, who knows what wonderful things will happen? Or not. Who knows?

 

[Moe Ghoul]

It's a band aid on a .357 hollowpoint bullet wound. Meanwhile, they're printing the dollar outta existence. Even the gals on the view mentioned Weimar today......ROFLMAO!!! The masses are waking up slowly to the reality. If we thought inflation was ramping up the past few years, we haven't seen anything yet.

 

[deadheadskier]

It's a band aid on a .357 hollowpoint bullet wound. Meanwhile, they're printing the dollar outta existence. Even the gals on the view mentioned Weimar today......ROFLMAO!!! The masses are waking up slowly to the reality. If we thought inflation was ramping up the past few years, we haven't seen anything yet.

So, I should start stalking up on canned goods now? :lol:

I wonder what percentage of homes end up in foreclosure when the bottom hits. What is it now 2% and things are 'this' bad.

 

[Moe Ghoul]

So, I should start stalking up on canned goods now? :lol:

I wonder what percentage of homes end up in foreclosure when the bottom hits. What is it now 2% and things are 'this' bad.

I have a pantry and freezers that I've been stocking for the past 2 years. Sadly, groceries give you a better return on investment than all the banks and brokers combined currently. We're not going to end up in some post apocalyptic world, but I firmly believe the worst is yet to come for the economy and inflation. So far, the past 5 years have borne that out. It'll all come to a head by the end of 2010 or thereabouts. Stay tuned.

 

[Marc]

I'm going to continue buying at regular intervals.

Bumped my 401(k) contribution up a couple points too. Now's the time.

 

[Moe Ghoul]

Good luck.

 

[Marc]

Good luck.

Luck's got nothing to do with it.

 

[billski]

Luck's got nothing to do with it.

Marc, are you at AIG?

 

[Moe Ghoul]

Different strokes for different folks. If it's working for ya, stick with the plan,

 

[JD]

Well, now it's out of their hands. Their assets ARE going to be liquidated by the fed, but we (taxpayers) are still gonna be left with massive debt. They should have just let AIG dies and have it's pieces picked up for pennies, the pieces that were worth anything. Shareholder? Who gives a crap about them. Anyone who did not see this coming simply has not been paying attention. over the last 30 years we have reversed every regulatory law put in place after the great depression to makes sure this would not happen again...well, here it is.....happening again, and this is not the bottom......IMO.

 

[GrilledSteezeSandwich]

I don't have a 401k and don't plan on hit..I hate the fact that you have to keep the money in until age 60, what if I live to be 58??? For me..I just put money in CDs..

 

[Moe Ghoul]

Gold's up up $77 today and over $120 since Friday. Kudlow is a great inverse indicator. CNBC is all a tither.......ROFLMAO!!!!!!!!!!!!!! Fiat money always leads to inflation. Retail weenies are gonna rush in hard now.

 

[Marc]

Marc, are you at AIG?

Huh? No, I work for FM.

 

[GrilledSteezeSandwich]

Huh? No, I work for FM.

I ought you were an engineer??? FM..Fannie May??

 

[Marc]

Well, now it's out of their hands. Their assets ARE going to be liquidated by the fed, but we (taxpayers) are still gonna be left with massive debt. They should have just let AIG dies and have it's pieces picked up for pennies, the pieces that were worth anything. Shareholder? Who gives a crap about them. Anyone who did not see this coming simply has not been paying attention. over the last 30 years we have reversed every regulatory law put in place after the great depression to makes sure this would not happen again...well, here it is.....happening again, and this is not the bottom......IMO.

Gloom and doom much?

The DJIA looses ~6% in a couple days. Bad? Yes. '29 crash bad?

Lol.

The DJIA is down about 12% for the year. DJIA fell 89% in '29.

 

[Marc]

I ought you were an engineer??? FM..Fannie May??

I am an engineer. I work for FM Global. FM = Factory Mutual (or did at one point).

 

[Moe Ghoul]

Gloom and doom much?

The DJIA looses ~6% in a couple days. Bad? Yes. '29 crash bad?

Lol.

The DJIA is down about 12% for the year. DJIA fell 89% in '29.

DJIA is useless today. S & P is a much better index.

 

[Marc]

I don't have a 401k and don't plan on hit..I hate the fact that you have to keep the money in until age 60, what if I live to be 58??? For me..I just put money in CDs..

You can borrow against your 401(k).

I hope you have some sort of tax deferred retirement account... Roth IRA at least?

You can withdraw contributions from a Roth before retirement age... putting all your money in CD's is a great way for it to not even keep up with inflation most times... meaning the value of your savings will actually decrease over time.