Leahman Brothers Bankrupcty and AIG Bailout........ ( Archived) (155)

Yes you can arrest and indict foreign nationals....just has to be done in the country within jurisdiction.

On Lehman Bro and AIG...the Fannies arrest and indict of the officials now after the damage has been is like a bankrupcy.....where you get
a penny on the investment.

The real issue and problem here....is transparency.....where what is happening inside the companies is being discovered by gov't agencies.
Here is where the SEC Chairman is on the hot seat......each of these companies is file quarterly financials because they are public traded companies. Those quarterly should have told the SEC that problems were there.

The SEC Chairman was a combination of the three blind mice and the
three monkey that see no evil, hear no evil and say no evil. Why was the SEC silent on this till the bottom fell out and the flooding began?
They had the quaterly financial of them......but likely just filed them and did not read them.

McCain wants his head. OK not literally.....wants his job. Obama is saying...everything is cool with me. GWB is saying everything is cool
with me. Congress is saying we are going to write the check and
everything is cool with us. GWb literally said he has confidence in the
SEC Chairman. SEC Chairman just had 4 major firms in about 4 weeks
do kamkizee on him.....his boat should be sinking by now.

Never thought sport would enter this thread,but bear with me.

Watched Manchester United today in a bar. AIG are their sponsors. Now I thought businesses sponsored things to get themselves publicity.Thing is despite spending no doubt vast sums I had no idea who AIG were..............

Until last week.They got publicity OK for the wrong reasons.

And wasted their money sponsoring Man U.

AIG has or had thier fingers into a lot of different things.

Is Manchester United owned by the American that owns the Tampa Bay NFL team....?.....when the purchase was going down the
Manchester fans were going to quit the club and send their life time
tickets back? I am pretty sure I got that right.

There is you connection to AIG likely. They likely insure his NFL team here......and so get the chance to sponsor his club in England.

Well this week AIG scored two own goals, had a PK try blocked, and missed a gimmee walkin goal with the keeper out of play. And lost to a team that was down to 9.

Look at it like this.....now Manchester United is sponsored by the people of America that now own AIG.......and that little bit of trivia is good for a beer at your local pub. Make mine a cold one.....

I just had a chance to look at AIG Financials and two things
struck me a odd. One the company is still paying a dividened and
has been raising over the years. Second, in 2007 they made a
6 billion profit before this year losing 5.8 billion. I have to wonder
what happened to all that money. I think the people at
AIG decided its time to take the money run. Now the US owns
80% of the company as the apparant crooks have emptied the
company. I think tax payer need to really question the wisdom
of the Republican administration in these matters.

The dividend might be on a preferred stock......insurance companies have funny preferred stock programs. They are often like Utilities bonds......with various rate adjustments....pretty common in the industry if it is. But the rate should not be over........6 or 7 %.
And yes preferred stocks can be held by a small group of insiders.


Check the two year operation costs.....2007 and 2008........in 2008 if they are taking a beating....it should be less than 2007 when they had profit. Also compare the salaries and wages of the two year......if the profit was being siphoned off.....they have to get it into the Corporate managment accounts someway. But that would be the most obvious thing to do....and easies to track.

See if they had a commission restructuring......that might be one way to do it. Likely is in the foot notes in wages and salaries. It would be massive to lose this kind of sums.

See if they had any new partnership or investments. Enron got into a number of partnership with small energy providers......they used them to inflate thier net worth. But in this case.....AIG is buying into them....then management could be getting a kickback of the buyin. The partnerships are nearly worthless, but a big dollar deal has been done....with everyone going home happy. Again should be in the foot notes of the investment section.

Did they lay off staff and employees in 2008? Or did they stay with a full compliment from the 2007.

Does it say how many SEC filing they made in 2007 and 2008? Sometimes they get a extension on a quarterly.......but they should met have 3 of the 4 both years. If the SEC was not getting quarterlies...then they had to know something was going on here.

Well when they made it big in 2007 they knew it was time to take
and run. In this day of instance information one does not have
to know what the problem is when the stock price is dropping.
That alone sends the institutional investers scrambling to get out.
Now they want to work out a quick deal with the US. Why not
take some time and think it through appropiately. As. a
stock holder I personally don't think investment banking is a good
deal and I am forced to be a stock holder of AIG. Maybe the
government should ask the people of America if they want
to be a stock holder in an investment bank. Those who want can
buy stock in AIG, those who don't may want to buy stock in oil
industry.

Again MHO

Agman, I all for an investigation of AIG to air out thier dirty laundry.
Also for where the $700 b economic plackage is heading.

The gov't can give intrimin bridge capitol to keep them operating while it is done. So I don't see why this has to be done in a week time with out the investigation.

After the investigation....you know what you got or don't have. Then make the decision to place the American people on the hook for the
$85b for AIG.

Agman, say you are a major investor....with big bucks.....would you buy a company with out doing 'due diligence' on it? Send them $85 b without tearing apart the financials and knowing the contracts, revenue flows, staff...etc?

This is business 101 here. And the Federal Government of the United States is not doing it.

Didn't AIG start in China.