Who knows what else will come out of the woodwork with AIG.
When you see one cockroach...
The old CEO ran that place for a long time. As the regulators & analysts dig into it, he'll be dropping more "other shoes" than the Rigas family's millipedes.
A year ago I would have also jumped into this mess when the numbers lined up, but (1) I'm maxed out on my current holdings and don't care to trade in any of them for AIG and (2) I think the bad news is only beginning. Review a summary of the Nortel saga, and one begins to suspect that right now even Warren Buffett couldn't restore the integrity of AIG.
Hmmm, but Buffett does have $40B cash and he does like owning insurers. AIG's value is dropping into quite a margin of safety... Berkshire Hathaway still has their AAA rating... no one is accusing them of malfeasance any longer... their price is dipping & recovering... naaah, couldn't possibly happen.