AIG scam

Discussion in 'Wall St. News' started by PocketChange, Jun 23, 2011.

  1. AIG bailout was for the sole purpose to allow them to unwind their business and assets in an orderly fashion. My understanding was they were to be dissolved with the full faith and force of the us treasury serving as surety.

    Instead they have exasperated their problems. American International Group could face more exposure than it did last quarter after recently purchasing the remaining shares of Fuji Fire and Marine Insurance Co. for 47 billion yen ($571 million) to bolster its Japanese insurance business.. AIG's Chartis recorded a catastrophe loss in the fourth quarter of 2010 of $139 million, according to its 10K.

    US taxpayers are on the hook to cover japanese catastrophic losses.
    how exactly does winding down a business operation entail purchasing new foreign insurance businesses?

    This whole AIG bailout deal stinks of fraud and straight out theft.