I am confused.

[67hat34c]

Aig anounced that they repaid 25billion to the Taxpayers. But when you read the article it says they gave assets in 2 subsidiary companies to the Federal Rerserve Bank of NY. Now WTF. so they give assets for worthless companies to the tax payers and say they repaid part of the debt?. Companies must be worthless otherwise they would have been purchased by other insurance companies. Dont know about you but my B-hole just twitched.

 

[Bill Allen]

Man how about yo mama's current program for mortages, stressed, can't pay can get 2% money. Course if you pay your bills, sorry can't have it. Bill

 

[Nonchalant1]

Didn't they get the money from the Federal Reserve when they
originally got it? If so, they repaid it back to where they got it from. Maybe that'll clear up your twitch.

Doug

 

[rjwilliams]

My broker just got an insurance quote from them that was $1000 less than Markel American for open ocean / coastal cruising coverage in the Eastern Pacific Hurricane Zone. It was a much better policy than Markel's although it had the same tripled deductable if damage was caused by a named storm.

Should I be concerned?

Freedom
48 LRC

 

[SeaEric]

I just changed companies for my yacht broker legal liability insurance. I had quotes from 2 companies that are AIG owned. My last agent tells me that the insurance arm of AIG is quite solvent. Its the financial services arm that has the problems. Still, I couldn't make myself do business with AIG. I went elsewhere. They got into trouble without my business and they can get out without me too.

 

[67hat34c]

They didnt repay anything. they gave the fed assets instead of cash. My point is that I believe the assets to be worthless otherwise they would have been purchased on the open market by another insurance company. Now the Fed owns a couple of subsidiary insurance companies that they will have to either run or sell. Fed has very poor record of running companies and also selling stuff for anything close to what they are worth.

So IMHO we are getting screwed once again.

 

[Boatsb]

Welcome to the obama-nation.

 

[saltshaker]

Welcome to the obama-nation.

Wasn't it the Bush administration that started buying interest in these failing companies? 8 years of the worse Republican administration followed 4-8 years of this backlash Democratic administration, will be hard to survive.

 

[nyrussell]

Jack,

It was. However, it is easier to bash a man you don't like than give him a chance!!!! And yes I had this discussion with others too.

 

[67hat34c]

Not bashing Obama because we dont like him but bashing him because he said Change and not it is the SOS. Screw the tax payers and make the rich richer.