I was watching CNBC today... and the commentators or hosts or whatever you want to call them were commenting on how penetrated "main street" was by AIG - life insurance policies, auto insurance, annuities and all kinds of other products. The implication she was making is that these products and services were now jeapordized by AIG's current status. Her ignorant comments could cause even more trouble for AIG by having consumers even more confused about AIG and having these clients come in and say, hey what's up with my policy, AIG is going to the toilet.. etc etc.
From what i see, AIG is still operating fine. What they say is that AIG is having an equity only issue. My thing is why can't someone from AIG put it into laymens terms for teh common folks that AIG products are strong and that AIG has gazzillions in assets and that tehre is nothing to worry about. While one single question/comment from the idiots at CNBC could put the company in even more unnecessary trouble.
Anyone else share these thoughts?
Meytai
EDIT: Since AIG is so "penetrated" into main street - it's in AIG's interest to pay for a commercial or something to inform the public
AIG and CNBC
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glen.de.rozario
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Re: AIG and CNBC
Quite funny, you know what the truth is ?
in the mid-2000s A.I.G. had become embroiled in a series of fraud investigations conducted by the Securities and Exchange Commission, U.S. Justice Department, and New York State Attorney General's Office. Greenberg was ousted amid an accounting scandalin February 2005. The New York Attorney General's investigation led to a $1.6 billion fine for AIG and criminal charges for some of its executives. Greenberg was succeeded as CEO by Martin J. Sullivan, who had begun his career at AIG as a clerk in its London office in 1970.
On June 15, 2008, under intense pressure due to financial losses and a falling stock price, Martin Sullivan resigned from the CEO position. He was replaced by Robert B. Willumstad, who has served as Chairman of the Board of Directors of the Company since 2006.
in the mid-2000s A.I.G. had become embroiled in a series of fraud investigations conducted by the Securities and Exchange Commission, U.S. Justice Department, and New York State Attorney General's Office. Greenberg was ousted amid an accounting scandalin February 2005. The New York Attorney General's investigation led to a $1.6 billion fine for AIG and criminal charges for some of its executives. Greenberg was succeeded as CEO by Martin J. Sullivan, who had begun his career at AIG as a clerk in its London office in 1970.
On June 15, 2008, under intense pressure due to financial losses and a falling stock price, Martin Sullivan resigned from the CEO position. He was replaced by Robert B. Willumstad, who has served as Chairman of the Board of Directors of the Company since 2006.