Posts
I was wondering how long it would take companies such as AIG to blame lower prices on failing to sell these assets.
The CEO of U.S. insurer AIG , which is looking to shed assets around the globe as part of a $152 billion U.S. government rescue package, said that difficult markets may delay the sale plans, though certain units have attracted heavy interest.
This ass-wipe was in Kong Kong when he made the comments and I wonder, are the Chinese the only people that can afford to buy this stuff up? They have their own economic crisis going but they can still buy the United States up?
At the end of his speech, Liddy answered a question regarding the speed at which AIG would repay the $152 billion.
He said the company has not been loaned that entire amount, rather the federal government has loaned it $40 billion, which could grow to $60 billion. Liddy explained that there are also two financing vehicles.
"They transfer risk and opportunity from those RMBs (residential mortgage backed securities) to the Federal Reserve. I would suspect that the Fed will do very well on those."
Sure they will, Liddy, and I'm getting a Golden Parachute for Christmas.
0 Comments:
Post a Comment