Early Retirement & Financial Independence Community

Early Retirement & Financial Independence Community (https://www.early-retirement.org/forums/)
-   FIRE and Money (https://www.early-retirement.org/forums/f28/)
-   -   NY Times article on AIG - New Weakness (https://www.early-retirement.org/forums/f28/ny-times-article-on-aig-new-weakness-45529.html)

walkinwood 07-31-2009 05:40 AM

NY Times article on AIG - New Weakness
 
This article seems to say "Stay clear of AIG policies". I find it amazing that people are still buying policies from them.

After Rescue, New Weakness Seen at A.I.G.




IndependentlyPoor 07-31-2009 04:26 PM

Ut-oh. This sounds like 1928-style shenanigans.
One A.I.G. subsidiary, the National Union Fire Insurance Company of Pittsburgh, shows what can happen by heavily relying on affiliates. Its most recent regulatory filing in Pennsylvania said it had more than enough money to pay its obligations.
But at the end of 2008, more than a third of National Unionís portfolio was invested in the stock of other A.I.G. companies, which are not publicly traded.
:hide:


All times are GMT -6. The time now is 01:27 AM.

Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2022, vBulletin Solutions, Inc.