AIG is going down tomorrow

2008-09-15 17:40:39

#1

Diesel_dyk: Object in mirror will feel larger than it appears; +178|6413|Truthistan

AIG, the huge insurance company is going down tomorrow

They were seeking about $40 billion dollars in new capital to prevent financial meltdown. They can't raise it.
Now the credit markets have down graded AIG's credit rating and that is going to force AIG to come up with billions more in collateral on top of the $40 billion that they were seeking.

They don't have and can't get it so watch what happens tomorrow.

AIG will be like the titanic compared to Lehmans.

2008-09-15 17:42:18

#2

God Save the Queen: Banned; +628|6762|tropical regions of london

you think Wamu will go under?

2008-09-15 17:42:52

#3

MGS3_GrayFox: Member; +50|6586

Didn't they allow AIG to take money from its subsidies?

2008-09-15 17:50:12

#4

KEN-JENNINGS: I am all that is MOD!; +2,991|7051|949

Diesel_dyk wrote:
AIG, the huge insurance company is going down tomorrow

They were seeking about $40 billion dollars in new capital to prevent financial meltdown. They can't raise it.
Now the credit markets have down graded AIG's credit rating and that is going to force AIG to come up with billions more in collateral on top of the $40 billion that they were seeking.

They don't have and can't get it so watch what happens tomorrow.

AIG will be like the titanic compared to Lehmans.

AIG has been having credit issues for some time now, just like Lehman, Merril Lynch, and WaMu. Just because the FED won't give them capital or let them borrow like they let commercial banks borrow doesn't mean they are going to fail. The key is that the industry (investment and insurance) can't afford to have AIG fail, so expect a major infusion of cash by a number of large financial institutions in the near future.

There is an underlying theme to the failure of banks and large investment funds happening currently, and I see little to no action by the industry and/or government to correct the systemic problems within the financial sector. Unfortunately it is people like you and me (general public, minority shareholders) that are punished.

2008-09-15 17:54:10

#5

KEN-JENNINGS: I am all that is MOD!; +2,991|7051|949

God Save the Queen wrote:
you think Wamu will go under?

WaMu probably won't go under. I think the most drastic thing that will happen is that they will sell off a good chunk of their assets to a major investment fund and cease to be a national banking player.

I expect a foreign-based bank (probably from Asia or Middle East) to start offering banking and investment services to the American public soon.

2008-09-15 17:55:33

#6

usmarine: Banned; +2,785|7181

banks essentially gamble with peoples money in order to make money. if they fuck it up, this is what happens.

2008-09-15 17:57:24

#7

ghettoperson: Member; +1,943|7068

It's not a good week to be a large investment/insurance firm is it?

2008-09-15 17:58:05

#8

usmarine: Banned; +2,785|7181

ghettoperson wrote:
It's not a good week to be a large investment/insurance firm is it?

ahh fuck em anyway. all their bullshit fees and crap.

2008-09-15 18:00:44

#9

KEN-JENNINGS: I am all that is MOD!; +2,991|7051|949

usmarine wrote:
banks essentially gamble with peoples money in order to make money. if they fuck it up, this is what happens.

It's not only that - a bank can effectively loan or borrow more money than they actually have. If and when they gamble and lose that money (on things like sub-prime mortgages) that they didn't have in the first place but are legally allowed to borrow/lend, they can't afford to pay someone. Then either the government or industry steps in to offer cash upfront to both assauge the public and to make sure day-to-day cash flow is not impacted so the company can keep functioning.

2008-09-15 18:02:43

#10

ghettoperson: Member; +1,943|7068

usmarine wrote:
ghettoperson wrote:
It's not a good week to be a large investment/insurance firm is it?
ahh fuck em anyway. all their bullshit fees and crap.

Yeah, problem is it's usually us that gets fucked over when the government has to use our tax dollars to bail them out.

2008-09-15 18:11:17

#11

Diesel_dyk: Object in mirror will feel larger than it appears; +178|6413|Truthistan

The guys on CNBC are saying that AIG is now seeking about $50+ billion in new capital to keep going while AIG only has about $14 billion in equity. How does that math add up? they need 3 times what they are worth to keep afloat, whoever gives AIG money will be literally giving it away, it won't be an investment it will be a bailout.
AIG might have to seek bankruptcy. If they do watch for Buffet and JPMorganchase to swoop in to pick the bones clean.

In any respect, there has been huge movements today that are pushing the financial markets to global meltdown and that movement looks like it will continue tomorrow. Makes me wonder where these guys were investing. Do you think that there is a link between the crash in commodities and the crash in these firms... perhaps they were caught with too much exposure in the commodites futures when the commodities crashed. If so, there is no helping them.

2008-09-15 19:23:40

#12

God Save the Queen: Banned; +628|6762|tropical regions of london

KEN-JENNINGS wrote:
God Save the Queen wrote:
you think Wamu will go under?
WaMu probably won't go under. I think the most drastic thing that will happen is that they will sell off a good chunk of their assets to a major investment fund and cease to be a national banking player.

I expect a foreign-based bank (probably from Asia or Middle East) to start offering banking and investment services to the American public soon.

I think I caught something on the news about a japanese bank buying a huge california bank sometime last week. brought their stock up.

2008-09-15 19:57:47

#13

ATG: Banned; +5,233|6948|Global Command

I hate to say it, but I told you so.

2008-09-15 19:58:49

#14

God Save the Queen: Banned; +628|6762|tropical regions of london

you are not unique or special alex. youre a loon.

2008-09-15 20:03:37

#15

ATG: Banned; +5,233|6948|Global Command

God Save the Queen wrote:
you are not unique or special alex. youre a loon.

Right.

I predicted September as the start of the epic meltdown.

Talk to me in a few weeks and tell me if iamright.

2008-09-15 20:04:55

#16

God Save the Queen: Banned; +628|6762|tropical regions of london

yteah, Im sure you looking in your bowl of water and turned it into a poem. since its the internet, Ill pretend I believe you just as easily as you could say you havent read someone elses opinion.

2008-09-15 20:12:37

#17

God Save the Queen: Banned; +628|6762|tropical regions of london

I remember when this dude ran for president.

2008-09-15 20:13:37

#18

ATG: Banned; +5,233|6948|Global Command

God Save the Queen wrote:
yteah, Im sure you looking in your bowl of water and turned it into a poem. since its the internet, Ill pretend I believe you just as easily as you could say you havent read someone elses opinion.

I have no idear what the fuck you are saying but know that I will always love and respect you soldier.

Now go stuff a cell phone up your ass, so we can have a peer to peer conversation.

Last edited by ATG (2008-09-15 20:14:06)

2008-09-15 20:14:16

#19

God Save the Queen: Banned; +628|6762|tropical regions of london

go fix my raingutters

2008-09-15 20:17:57

#20

ATG: Banned; +5,233|6948|Global Command

God Save the Queen wrote:
go fix my raingutters

I have a $350.00 minimum.

But I will be in Pasadena Wednesday working on D avid lee ro ths house.

I'll do a service call for $275.00, cash.

2008-09-15 20:18:35

#21

Lotta_Drool: Spit; +350|6602|Ireland

The queen has gotten really wierd anymore. Come to think of it we all have.

Shit is going to pot and tearing us apart. We need a group hug. xxooxxoo

2008-09-15 20:19:12

#22

Spearhead: Gulf coast redneck hippy; +731|7109|Tampa Bay Florida

Lotta_Drool wrote:
The queen has gotten really wierd anymore. Come to think of it we all have.

Shit is going to pot and tearing us apart. We need a group hug. xxooxxoo

Gulf War Syndrome tbh

2008-09-15 20:19:15

#23

God Save the Queen: Banned; +628|6762|tropical regions of london

my house isnt big enough to raplace $375 worth of rain gutters and Im between checks.

I learned not to clean rain gutters wearing shorts climbing on a roof.

now go get a paper cut.

2008-09-15 20:21:14

#24

Lotta_Drool: Spit; +350|6602|Ireland

ATG wrote:
God Save the Queen wrote:
go fix my raingutters
I have a $350.00 minimum.

But I will be in Pasadena Wednesday working on D avid lee ro ths house.

I'll do a service call for $275.00, cash.

Illegals will do it for less and they work harder as long as you don't mind pointing and grunting alot.

2008-09-15 20:22:37

#25

God Save the Queen: Banned; +628|6762|tropical regions of london

illegals replaced my roof for $7500

and the garage too.

Last edited by God Save the Queen (2008-09-15 20:22:56)

BF2S Forums AIG is going down tomorrow

Diesel_dyk wrote:

God Save the Queen wrote:

ghettoperson wrote:

usmarine wrote:

usmarine wrote:

ghettoperson wrote:

KEN-JENNINGS wrote:

God Save the Queen wrote:

God Save the Queen wrote:

God Save the Queen wrote:

God Save the Queen wrote:

Lotta_Drool wrote:

ATG wrote:

God Save the Queen wrote:

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