Largest Larceny in History, today in AIG

Discussion in 'Wall St. News' started by RussellDaytrade, Sep 16, 2008.

  1. This will go down in history as the largest single larceny, ever.

    For 80 odd billion, the company has just given up over 1 T in assets, and 80 % of the company.

    Not only that, it has given up that ownership FOR A LOAN!. In other words, IT IS PAYING someone to take 80% of it, for less then .10 cents on the dollar, and AIG is paying them to do it!

    A fucking mazing.

    And to top it off, everyone think that doing so is doing them a favor!

    What they have done is the equivalent of being handed a sword, and told to fall on it.

    This has to be the biggest larceny in history.
  2. yes, but is it good for the market?
  3. Market may sell off. The FRE FNM news was good for one 300 point rally. Then we fell 600.
  4. exactly
  5. nickdes


    I will have to read the details before I make a judgment on this.

  6. Not likely. You may choose to think that if you wish, but I think just the opposite is more likely to occur.

    That said, I hope for and welcome lower prices again, the lower the better, I just think the lowest pricest have already occured, and, that the market may rise dramatically from here.
  7. nassau


    today was a sell of and short squeeze by the big boys, remember it is options expiry week and they all work together.

  8. I hope you realise that the value of a company is not the amount of assets it has on its books!

    Something called 'liabilities' might also need to be considered...
  9. bone

    bone ET Sponsor

    The Obama/Pelosi dream: socialized business comes to America.
  10. Hey, do you understand that in addition to assets there are liabilities

    and they are probably higher than 1 trillion

    also until those assets are not sold we don't really know how much they cost probably significantly less than 1 trillion

    so if someone is robbed it's FED
    I don't have any doubts those 80 billions they paid will multiply several times till all liabilities are paid
    #10     Sep 16, 2008