AIG!!

[Celebration]

AIG AIG AIG AIG AIG AIG AIG AIG AIG AIG AIG AIG AIG AIG AIG AIG AIG AIG AIG AIG AIG AIG AIG AIG

AIG

Fed turned them down on aid. They are all trying to come up with a private bailout of sorts. Do you realize the repercussions if friggin' AIG goes down? They are enormous.

[MidwestTransplant]

1. I think the Fed is bluffing and want AIG who expected a bailout to try to do it themselves.

[JuniperLea]

3. I think AIG is bigger than the Fed...

I don't think they can do diddly for this worldwide behemoth.

[Celebration]

6. they might save them somehow through a back door

Not sure exactly how it would work. In the meantime, there is this at least

http://www.bloomberg.com/apps/news?pid=20601087&sid=aonlJqlXR4Ug&refer=home

New York Governor Says AIG Can Access $20 Billion

(They need a lot more than that, immediately.)

[Celebration]

20. apparently some government money is now "on the table"

We'll see. Methinks the Bilderberg types are getting a wee bit nervous. If AIG goes down it threatens not only our economy but their wealth and power as well.

[JuniperLea]

2. I used to work for them...

Actually, I worked for SunAmerica before the merger (when it was beautifully run by Eli Broad), and then for a couple of years after.

Huge is an understatement.

This is truly scary.

[soleft]

4. I still do

I'm actually copying all the personal stuff I've saved on my computer over the years onto a flashdrive. Sad.

[Celebration]

7. oh, gosh, I'm sorry

I am thinking of you and all the wonderful people who worked for Lehman, Bear Stearnes, etc.

I hope it works out and that your precautions re: the flashdrive were unnecessary.

A friend of ours worked for them until last spring. He sold financial products for them after the company he formerly worked for was taken over by them. AIG put enormous pressure on him to sell financial products that he thought were not in the best interests of the clients. He had sold all his stock in AIG at this point, and he just quit. I've been concerned about AIG for awhile because of him.

He now has a successful yard maintenance business.

[soleft]

13. I'm happy for your friend

I've worked here for 24 years. I've never been on a job interview. I've never had a resume. I thought I'd be here til I retire. We'll see. Thanks for your thoughts!

[JuniperLea]

9. I'm so sorry to hear that

I had hoped things would go better for all once Greenberg was, well, you know.

Best of luck to you.

[soleft]

14. Thanks you, next few days should be....

interesting!

[JuniperLea]

15. Keep us posted

I'm feeling guilty that I got out when I did... I sold all my AIG employee stock a few years ago before it tanked too. I'm holding good thoughts for you, and all my former AIG family... which does NOT include the asses at the top who had to know this was coming.

Don't you think they had to know? I was just talking about this earlier... it reminds me of BushCo saying "no one could anticipate"... bull! They had to know.

[napi21]

5. YEP! I happen to have an insurance agent here today when

that was announced. He was FLOORED! He said AIG is THE biggest insurance co. in the world! He also admitted that they had most of their investments in real estate! He said the next largest co. was some co. hdq. in Switzerland I think. Something beginning with the letter A, but I forget the exact name. There's some very serious shit going down folks! We really ARE close to another depression!

[Dirk_H]

21. Allianz is biggest insurance co

The worlds biggest insurance company is Allianz SE from Germany (HQ in Munich):
http://en.wikipedia.org/wiki/Allianz
AIG is worlds No 2.

[sinkingfeeling]

8. Really, I'm wondering what happens to the 'cash value' of my life insurance and where I'll get new

auto insurance.

[lapfog_1]

10. 18th largest company in the world.

$110B in revenue last year. 116,000 employees.

[lisa58]

11. My husband used to work for AIG (before I knew him) and...

...he was absolutley beside himself this morning. I haven't spoken to him since this decision, but he was telling me the ramifications of this just from what he knows so far - this is very far-reaching.

[JuniperLea]

12. There are a lot of smaller investment firms under their umbrella...

This is a very sad day.

[phantom power]

16. Aren't they supposed to be triple-A, or something?

I recall hearing assurances like "If AIG goes down, it means everybody is going down."

[nadinbrzezinski]

17. That's why people are scared of a downgrade

[garybeck]

18. what would happen if AIG handles your retirement account? n/t

[Celebration]

19. Guessing that it depends..................

Is it invested in AIG instruments or is it in an account there, invested in other things? I think I would be more concerned if it was in guaranteed by AIG income products. They have been pushing those on people, according to my friend. But people who are invested in outside mutual funds, through accounts at AIG should be better off.

However, that is just my off the cuff response. People need to be talking to the appropriate people at work.