Paulson: No government money for AIG, private sector solution not likely either... ok so wtf now?

[w¡n9Nµ7 §£@¥€r 123]

American International Group Inc (NYSE:AIG - News) shares plummeted after the insurer's credit ratings were cut, heightening concerns it might file for bankruptcy and further upset the global financial system.

...

The shares recovered much of their early losses after CNBC television said government money might be used in a bailout of AIG. But the shares later fell back after the network said U.S. Treasury Secretary Henry Paulson opposed using government money and that a private sector solution wasn't likely.

http://biz.yahoo.com/rb/080916/aig.html

[GiGii 4]

I think the biggest error was the bail out of Bear Stearns, it created false hopes for all these problem companies, thinking that the gov't will swoop in to save them last minute.

You made your bed, now lay in it. The financial markets are in turmoil as-is, gov't can't keep saving these giants.

[w¡n9Nµ7 §£@¥€r 123]

What happens to policyholders if AIG goes out of business?

[Mr. Big Dog 10,747]

What happens to policyholders if AIG goes out of business?

They're fcuked.

[w¡n9Nµ7 §£@¥€r 123]

What happens to policyholders if AIG goes out of business?

They're fcuked.

Ok, auto insurance policy holders - they have to have insurance... so when AIG "goes away" and they go knocking on GEICO or Allstate's doors, if they're smart, they could pretty much gouge them, right?

[Jenn! 918]

What happens to policyholders if AIG goes out of business?

They're fcuked.

Ok, auto insurance policy holders - they have to have insurance... so when AIG "goes away" and they go knocking on GEICO or Allstate's doors, if they're smart, they could pretty much gouge them, right?

Would be very hard for them to do that - too much regulation.

[GiGii 4]

What happens to policyholders if AIG goes out of business?

They're fcuked.

Ok, auto insurance policy holders - they have to have insurance... so when AIG "goes away" and they go knocking on GEICO or Allstate's doors, if they're smart, they could pretty much gouge them, right?

Why gouge, when they know they have to compete amongst each other. Go to progressive, don't you see their ads, they'll give you the best price.

I think they may be doing this (meaning AIG ready to go bankrupt), in anticipation for claims to be filed in connection with Ike.

Edited September 16, 2008 by GiGii

[w¡n9Nµ7 §£@¥€r 123]

What happens to policyholders if AIG goes out of business?

They're fcuked.

Ok, auto insurance policy holders - they have to have insurance... so when AIG "goes away" and they go knocking on GEICO or Allstate's doors, if they're smart, they could pretty much gouge them, right?

Would be very hard for them to do that - too much regulation.

Ok..

[GaryC 7]

Let them fail. It would be a bitter pill to swallow but the companies that have a solid foundation will emerge from this storm. The government cannot bail out companies for bad choices. In the end we will be better off. Sort of a Darwin survival of the fittest in the financial market.

[Hilarious Clinton 452]

Let them fail. It would be a bitter pill to swallow but the companies that have a solid foundation will emerge from this storm. The government cannot bail out companies for bad choices. In the end we will be better off. Sort of a Darwin survival of the fittest in the financial market.

true dat

[w¡n9Nµ7 §£@¥€r 123]

U.S. Sen. Robert Menendez (D., N.J.), a majority member of the Senate Banking Committee, said Tuesday on CNBC that he would “look favorably upon” using government money toward a bridge loan for American International Group Inc. Such a move would give the cash-starved insurer time to increase its liquidity but wouldn’t increase risks due to moral hazard or unfairly burden taxpayers. A failure of AIG “may very well present a systemic risk” to the nation’s economy given the company’s breadth of coverage, and that may be the deciding factor in whether the Federal Reserve gets involved in any rescue effort, Menendez said.

http://blogs.wsj.com/wallstreetcrisis/2008...vorable-option/

[IAMX 3,055]

Look at our government suddenly become socialist now.

RED SCARE, RED SCARE.

[w¡n9Nµ7 §£@¥€r 123]

AIG (NYSE: AIG), of New York, owns the International Lease Finance Corp., an aircraft leasing company that is a major customer of Boeing Co. (NYSE: BA) as well as Boeing’s main rival Airbus. ILFC owns a portfolio of 1,000 commercial jets valued at more than $50 billion. There is widespread speculation that the unit may be spun off or sold, and its future is critical to both Chicago-based Boeing and the larger aircraft industry.

http://www.bizjournals.com/seattle/stories...15/daily17.html

[GiGii 4]

This is BS. I dont pay taxes, to have that money go to bail out private companies.

Its true that the fall of AIG will be huge impact, as its on the DOW. But the news is out, we have the effect of it starting as is.

[almaty 19]

corporate welfare