AIG - losses 62 billion . . .

[TGregg]

CHARLOTTE, N.C. (AP) -- American International Group Inc., once the world's largest insurer, said Monday it lost $61.7 billion in the fourth quarter, the biggest quarterly loss in U.S. corporate history, amid continued financial market turmoil.

Followers of the government immediately know what happens when a company with a lot of lobbyists makes big, expensive mistakes - the feds pony up billions and billions of dollars to reward the company:

The results come as the U.S. government also Monday announced a restructuring of a bailout plan for the troubled insurer, extending $30 billion in additional aid to the company.

.

Market cap is a bit over a billion dollars, meanwhile taxpayers have "invested" about 180 billion. All on the margin, BTW. Just #$*&ing great. Looks like our grandkids will get a lesson about big government beaten into their thick skulls with a giant baseball bat.

http://finance.yahoo.com/news/AIG-posts-617B-4Q-loss-apf-14508618.html

 

[empee]

agreed, ridiculous. who's on the other side of this, goldman sachs holding a bunch of CDS from AIG? (rumored)

 

[S2007S]

Over $100 billion worth of losses over the past 5 quarters and they still pump more billions into this fu$king company. When does it end? Enough is enough, let these companies fail, the system is already broken.

 

[Landis82]

Quote from TGregg:

Market cap is a bit over a billion dollars, meanwhile taxpayers have "invested" about 180 billion. All on the margin, BTW. Just #$*&ing great. Looks like our grandkids will get a lesson about big government beaten into their thick skulls with a giant baseball bat.

Thank you George Bush and Hank Paulson!
$162.5 Billion and counting.
Another "rape" job!
Thanks Hank!


Between Donald Rumsfeld, Hank Paulson, and Christopher Cox - - - I don't think that you could have ever assembled/appointed a more INCOMPETENT trio.

 

[TGregg]

Refresh that lube, Obama and his cronies are ready to ram it to the taxpayers again:

Everytime AIG has reworked its deal, we've been sure that it wouldn't be the last time, and again, it doesn't look like this will be either.

As significantly, the restructuring components of the government's assistance begin to separate the major non-core businesses of AIG, as well as strengthen the company's finances. The long-term solution for the company, its customers, the U.S. taxpayer, and the financial system is the orderly restructuring and refocusing of the firm. This will take time and possibly further government support, if markets do not stabilize and improve.

In other words, it's a matter of when, not if AIG's counterparties will need to be bailed out again.

http://finance.yahoo.com/tech-ticke...lout-Won't-Be-Its-Last?tickers=aig,^gspc,^dji

 

[trader_arb]

Quote from Landis82:

Thank you George Bush and Hank Paulson!
$162.5 Billion and counting.
Another "rape" job!
Thanks Hank!


Between Donald Rumsfeld, Hank Paulson, and Christopher Cox - - - I don't think that you could have ever assembled/appointed a more INCOMPETENT trio.

Not so fast....Obama and Geitner have several more years to try and outdo the Bush administration.

 

[Landis82]

Quote from TGregg:

Refresh that lube, Obama and his cronies are ready to ram it to the taxpayers again:

Hey TGregg,

Why did you originate this thread in the TRADING FORUM?

What does it have to do with TRADING?

Shouldn't it be in the "Wall Street Forum"?

You would think that a mod on ET would know better . . . but apparently not.

 

[tradersboredom]

these companies are already failed...

new owners of these companies.

these institutions like banks and insurance companies will still ber around just new ownership of shares.

the prior owners of these banks and insurance have sold and lost money already===capitullation.

don't forget that is the main reason for existence of the stock market which transfer of ownership of companies.

if you can own 51% of voting shares, you can take a company private and collect all the net earnings to your personal bank account.

minority shareholders have no power whatsover, more like silent useless investors.
investors with less than 5% ownership of shares are pretty much useless have no power in the board rooms. man there common shares can even be diluted.

millions saved by companies by not being public companies. no retail investors. not worth the cost of being public company. banks even short stocks shares as insurance against any loans they make to public companies.

Quote from S2007S:

Over $100 billion worth of losses over the past 5 quarters and they still pump more billions into this fu$king company. When does it end? Enough is enough, let these companies fail, the system is already broken.

 

[cashmoney69]

Fuck AIG and and all the other firms who so ungratefully took billions of tax payer money. This country is a breeding ground for irresponsibility and incompentaance. It's sick.

 

[swtrader]

Quote from TGregg:

Followers of the government immediately know what happens when a company with a lot of lobbyists makes big, expensive mistakes - the feds pony up billions and billions of dollars to reward the company:

.

Market cap is a bit over a billion dollars, meanwhile taxpayers have "invested" about 180 billion. All on the margin, BTW. Just #$*&ing great. Looks like our grandkids will get a lesson about big government beaten into their thick skulls with a giant baseball bat.

http://finance.yahoo.com/news/AIG-posts-617B-4Q-loss-apf-14508618.html

i'm no 'big government' guy, but isnt this as much a lesson about deregulation?

allowing a 'too big to fail' insurance company to venture into the unregulated industry of 'debt insurance' just becasue they called the insurance policy a 'credit default swap'?

the lack of regulation put the taxpayer(slave) into hock to communist china, as 'guarantor of last resort'

'Dont tell us what we can do, we'll tell you how much we need when it blows up'