Tag Archives: Aig

Time for the chump or the year award and the winner is?

Citicorp has a $2 trillion balance sheet - twice the size of AIG’s, or the same size roughly as AIG and Goldman combined. Why do I use the AIG/GS analogy? Because we can assume Citi’s assets are of kind and quality as both AIG and GS. I took a look at Citi’s latest quarterly filing [...]

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The United States may lose its ‘AAA’ rating due to the large amount of debt it has accumulated

Isn’t this the macro economic event all of the micro events have been pointing to? The US cannot bail out Lehman, Freddie, Fannie, AIG, etc without being caught up in their wake. The government is following the same bad business model that made some of these companies collapse. They are using short term debt to [...]

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AIG scandal tops Enron as the biggest scandal in 21st century

“The total value of the new plan, about $150 billion, represents the largest government support package extended to a private company in U.S. history.”
Enron — reviled, fraudulent Enron — destroyed more than $60 billion of shareholder value.
AIG (NYSE: AIG), which the government just took over, has destroyed $180 billion already — and it almost brought [...]

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Citigroup buying regional bank? Ridiculous!

It seems to me that Citi has more problems on their own balance sheet.
They should save the funds the governement pumped in to clean up their business and resume lending rather than expanding their bank and increasing taxpayer risk.
The Treasury and the FED should re-visit the issue of bank mergers and consider whether it [...]

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AIG reports third-quarter record loss of $24.47 billion–That’s not a loss. That’s an Enron type collapse!

“AIG reports third-quarter record loss of $24.47 billion”
And as a reward Americans give them future tax dollars and no one goes to jail. What a joke. By the way, Losses are only greater than expected by a factor of 10x. That’s not a loss. That’s an Enron type collapse. The loss just get 10 times [...]

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