Ishortyou

Crunching Numbers: Why I'd Buy AIG

well there were several problems that were already cooking a long time ago in AIG and this is not new, like the crooked accounting under the managment of prior CEO's, some of those trick accounting present false realities to investors, other the greed to make money insuring CDOs under CDS, a lot of those CDOs have triple A rated NINJA (no job, no income-assets) backgrounds wraping the value of a cart full of empty cans and this is not only in the US also in Europe where AIG has also quite a bit of exposure. The other part of its business is probably ok. So unless they resolve all this problems they will have a lot of headaches coming in the next quarters and it wouldnt surprise me to see the stock get to the penny values.