Goodbye to AIG?

[dixiegrrrrl]

Denninger reports in the Market Ticker just now:

"Without additional support from the U.S. government, in the future there could exist substantial doubt about AIG's ability to continue as a going concern."

The above sentence taken from AIG's SEC filing today.

Denninger: " Oops.
That's not a sentence you ever want to see in a quarterly report. It winds up in there because the auditors essentially make you do it - that is, the bean counters think you're a few beans short of a box.
Or maybe a lot of beans."

http://market-ticker.denninger.net/

[Donnachaidh]

1. buh bye!

[upi402]

5. I wish the USA functioned as well as Thailand

The froze the funds of a corrupt PM. And their court just rules that they will keep all funds he pilfered while in control of their government. The banksters here are still in control.

So which country is a 3rd world corrupt nation now? We are not a functioning democracy when contrasted to this.

[thereismore]

2. People are disinclined to give another bailout to AIG. Tough shit. nt

[dixiegrrrrl]

3. I have a feeling Citibank is in trouble, too.

Just a gut thing.

[Paper Roses]

4. Hearts and flowers to AIG and Citibank. And any others.

WE've been shafted enough by all of then.

[jtuck004]

6. Who will lose their insurance?

From what I have read, Greece is partially insured by them
major airlines, shipping, etc. Big, world changing stuff/

No love lost here, but we were told it would be too disruptive to let them go under, and getting insurance for an airline or shipping is very complicated, what with risk laid off to other companies, etc.

Given that, are we just going to see a repeat? Would be a huge firestorm. On the other hand, if they actually do insure such a large chunk of how we survive, if the go out of business we might see empty shelves at the grocery, with people bashing each other over the head.

Anyone know what they insure?

[dixiegrrrrl]

8. Greece just hired...get this...an ex-Goldman Sachs guy

to get them OUT of the mess that Goldman Sachs created in the first place.

Feb. 19 (Bloomberg) -- Greece replaced its debt management chief with a former Goldman Sachs Group Inc. investment banker, as declines in the country’s bonds roil European markets.

Petros Christodoulou took over from Spyros Papanicolaou as head of the Athens-based Public Debt Management Agency, the Finance Ministry said yesterday in an e-mail. Christodoulou held positions in global markets at Credit Suisse Group AG, Goldman Sachs and JPMorgan Chase & Co. before joining National Bank of Greece in 1998, according to a company filing.

http://www.businessweek.com/news/2010-02-19/greece-replaces-debt-chief-as-crisis-batters-markets-update1-.html

[CanonRay]

7. Let the games begin

Our lord and masters won't even ask us. They'll just have the Fed do it behind closed doors.

[cutlassmama]

9. yep. And why now? Where is all the money going?