Tom Turncoat

Greenberg's Chutzpah

Get rid of the crooks and clean up the corruption at AIG with a good power flush, then maybe you're right.
On Dec 02 04:33 PM TomArmistead wrote:

> I am pleased to have Hank Greenberg as a fellow shareholder in AIG:
> he says things that make a lot of sense and people listen to him.
> I saw him make the same pitch for bailout III on TV: he makes a good
> case.
>
> AIG's problems stem from the collateral requirements on the CDOs
> they insured, a bizarre episode where everybody agrees actual payments
> will be easily managed but the collateral called for in order to
> meet market prices is totally outside the realm of reason.
>
> Bailout II stripped shareholders of 5/6 of the benefit of the expected
> difference between collateral requirements and actual losses.

>
>
> The extraordinary negativity of those who have profitted by creating
> a financial Armegeddon has created a situation where the only guarantee
> that has any credibility at all belongs to the US Government.

>
>
> It is time to stop vilifying AIG's management past and present and
> focus on restoring public confidence in our financial institutions.