Tuesday, March 24, 2009
The AIG Fiasco: The Fallout
And, so, it begins. My call is to look for AIG to realize another huge loss in the first or second quarter. Those resignees aren't going to just disappear, and right now a lot of hedge fund managers are wondering just where to target on AIG's book. They're about to find out all they need to know.
But, AIG is only one company. Surely, the rest of the financial system trusts the administration! They certainly won't shy away from doing business with a government willing to overturn contracts at whim!
Update: For a little color on the resignations, you may want to read one of the actual resignation letters. I don't think I've ever felt quite so ashamed of my govenment as I do now.
Hat Tip: Instapundit
And, so, it begins. My call is to look for AIG to realize another huge loss in the first or second quarter. Those resignees aren't going to just disappear, and right now a lot of hedge fund managers are wondering just where to target on AIG's book. They're about to find out all they need to know.
But, AIG is only one company. Surely, the rest of the financial system trusts the administration! They certainly won't shy away from doing business with a government willing to overturn contracts at whim!
Update: For a little color on the resignations, you may want to read one of the actual resignation letters. I don't think I've ever felt quite so ashamed of my govenment as I do now.
Hat Tip: Instapundit
