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  • Not All Preferreds Created Equal [View article]
    Do you know of anyone going bankrupt? They go out and buy lots and lots of stuff. They know they will not have to pay it back and live it up.

    Who do we know that just did that? AIG. They had a half million dollar party in California after getting an $85 billion dollar bailout. It is my understanding that they are on the hook for $225 billion of Lehman loans, and it comes due on 10/24/08. I am thinking that if they need to get bailed out, they are not going to pony up $225 billion.

    But what do I know. I just draw bad cartoons.

    Clark Jenkins
    FishGoneBad.com
    Oct 14 00:19 am |Rating: 0 0 |Link to Comment
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