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SOS (1000+ posts) Send PM | Profile | Ignore | Sat Feb-28-09 07:09 PM Original message |
AIG catastrophe, coming next week |
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joeybee12 (1000+ posts) Send PM | Profile | Ignore | Sat Feb-28-09 07:14 PM Response to Original message |
1. My auto insurance payment is due next week... |
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Sherman A1 (1000+ posts) Send PM | Profile | Ignore | Sat Feb-28-09 07:33 PM Response to Reply #1 |
3. Mine is due in May |
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Celebration (1000+ posts) Send PM | Profile | Ignore | Sat Feb-28-09 07:45 PM Response to Reply #1 |
8. I think there is a difference between the insurance unit |
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SOS (1000+ posts) Send PM | Profile | Ignore | Sat Feb-28-09 08:00 PM Response to Reply #8 |
11. The insurance is still functional |
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Marrah_G (1000+ posts) Send PM | Profile | Ignore | Sat Feb-28-09 08:51 PM Response to Reply #11 |
20. Yes the insurance side is still profitable and functional. |
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barb162 (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 12:49 AM Response to Reply #8 |
29. There is a difference; they're all separate corporations. |
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barb162 (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 12:48 AM Response to Reply #1 |
28. Pay it, they'll still be in business. |
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ProgrezivIndie (165 posts) Send PM | Profile | Ignore | Sun Mar-01-09 08:11 AM Response to Reply #1 |
39. i had aigdirect auto insurance until a few weeks ago |
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Trekologer (445 posts) Send PM | Profile | Ignore | Sun Mar-01-09 04:40 PM Response to Reply #39 |
62. You might want to send them something in writing |
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ProgrezivIndie (165 posts) Send PM | Profile | Ignore | Sun Mar-01-09 05:01 PM Response to Reply #62 |
63. oh, i did that as well... |
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inna (1000+ posts) Send PM | Profile | Ignore | Sat Feb-28-09 07:17 PM Response to Original message |
2. rec #2, and thanks for posting this!! nt |
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seemslikeadream (1000+ posts) Send PM | Profile | Ignore | Sat Feb-28-09 07:34 PM Response to Original message |
4. massive losses |
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madrchsod (1000+ posts) Send PM | Profile | Ignore | Sat Feb-28-09 07:39 PM Response to Original message |
5. liquidate aig |
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truedelphi (1000+ posts) Send PM | Profile | Ignore | Sat Feb-28-09 07:40 PM Response to Reply #5 |
7. Sounds like such a sensible practical notion |
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alcibiades_mystery (1000+ posts) Send PM | Profile | Ignore | Sat Feb-28-09 08:02 PM Response to Reply #5 |
12. If you liquidate AIG, dozens of major banks across the world will be officially broke |
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sendero (1000+ posts) Send PM | Profile | Ignore | Sat Feb-28-09 08:16 PM Response to Reply #12 |
13. No matter how you do this.. |
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inna (1000+ posts) Send PM | Profile | Ignore | Sat Feb-28-09 08:43 PM Response to Reply #12 |
17. sometimes - very rarely, although this might be one of these cases .... |
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alcibiades_mystery (1000+ posts) Send PM | Profile | Ignore | Sat Feb-28-09 08:45 PM Response to Reply #17 |
18. I don't disagree with that at all |
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Pachamama (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 12:16 AM Response to Reply #12 |
24. Where did all the money go???? |
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alcibiades_mystery (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 08:41 AM Response to Reply #24 |
42. The "money" at AIG was theoretical |
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leveymg (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 09:18 AM Response to Reply #42 |
47. It wasn't even money - it was options, credit default swaps, and other derivatives. AIG was a big |
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Junkdrawer (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 10:19 AM Response to Reply #47 |
48. I don't think we can. As I understand it, there's $500 to $700 TRILLION in CDS... |
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SOS (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 01:26 PM Response to Reply #48 |
51. Nocera is saying the notional value of AIG CDSs is $450 billion |
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Junkdrawer (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 02:01 PM Response to Reply #51 |
53. So, AIG holds less than 1/60 of the estimated CDS Market? |
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MadHound (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 12:30 AM Response to Reply #12 |
25. Oh god, it's back |
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alcibiades_mystery (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 08:40 AM Response to Reply #25 |
41. There's no doubt these giant companies have to be dismantled |
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MadHound (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 08:42 AM Response to Reply #41 |
43. Then if they need to be dismantled, |
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alcibiades_mystery (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 09:02 AM Response to Reply #43 |
44. You have to hold them up until you can take them down sensibly |
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stillcool (1000+ posts) Send PM | Profile | Ignore | Sat Feb-28-09 07:40 PM Response to Original message |
6. Sounds like plain old theft to me... |
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tbyg52 (1000+ posts) Send PM | Profile | Ignore | Sat Feb-28-09 08:52 PM Response to Reply #6 |
23. That's what it's sounded like to me from the beginning. |
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Dreamer Tatum (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 04:28 PM Response to Reply #6 |
61. It's not theft |
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roamer65 (1000+ posts) Send PM | Profile | Ignore | Sat Feb-28-09 07:48 PM Response to Original message |
9. Geithner and Bernanke will backstop all of it. |
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slipslidingaway (1000+ posts) Send PM | Profile | Ignore | Sat Feb-28-09 07:54 PM Response to Original message |
10. K&R thanks n/t |
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zagging (531 posts) Send PM | Profile | Ignore | Sat Feb-28-09 08:33 PM Response to Original message |
14. This and other examples are the reason the stimulus will fail |
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Profprileasn (127 posts) Send PM | Profile | Ignore | Sat Feb-28-09 08:47 PM Response to Reply #14 |
19. Stimulus? |
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rockymountaindem (1000+ posts) Send PM | Profile | Ignore | Sat Feb-28-09 08:52 PM Response to Reply #19 |
22. Who'd you vote for? |
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HCE SuiGeneris (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 03:48 AM Response to Reply #22 |
36. 'zactly |
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zagging (531 posts) Send PM | Profile | Ignore | Sun Mar-01-09 03:45 AM Response to Reply #19 |
35. Estimates of the bad paper vary widely |
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northernlights (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 02:44 PM Response to Reply #19 |
56. unlike the credit card debt that your hero, Bush, racked up |
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barb162 (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 12:54 AM Response to Reply #14 |
30. Where did you get 150 trillion. |
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SOS (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 03:53 PM Response to Reply #30 |
60. Total derivatives = $500 trillion |
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northernlights (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 02:46 PM Response to Reply #14 |
57. the US isn't the only one with a stimulus package |
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DCBob (1000+ posts) Send PM | Profile | Ignore | Sat Feb-28-09 08:35 PM Response to Original message |
15. Sounds like a break up of AIG is what is going to happen. |
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barb162 (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 12:57 AM Response to Reply #15 |
31. That's the most likely scenario. Almost of the the insurance units |
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burythehatchet (1000+ posts) Send PM | Profile | Ignore | Sat Feb-28-09 08:42 PM Response to Original message |
16. My first employer, and once (30 years ago) a truly impressive company. |
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Muttocracy (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 12:45 AM Response to Reply #16 |
27. was it just an insurance company back then, not all the other investment/mgmt stuff? nt |
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barb162 (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 01:02 AM Response to Reply #27 |
33. It was mostly all insurance related things back then |
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burythehatchet (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 07:35 AM Response to Reply #27 |
37. That's right. Mostly commercial property and casualty. And the interesting thing |
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barb162 (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 12:59 AM Response to Reply #16 |
32. I know them quite well too. |
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burythehatchet (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 07:37 AM Response to Reply #32 |
38. I don't know whether Hank directed this. I think he was trying to stop it and he |
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barb162 (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 03:10 PM Response to Reply #38 |
58. I read an article in Forbes or Fortune a few months ago about this |
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DemoTex (1000+ posts) Send PM | Profile | Ignore | Sat Feb-28-09 08:52 PM Response to Original message |
21. Check the FAA Certificate of Registration in the cockpit of many US airliners .. |
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barb162 (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 02:28 AM Response to Reply #21 |
34. For airliners, there are pilots hired who take the planes to a field |
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TrogL (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 12:40 AM Response to Original message |
26. my BIL is shitting himself |
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alcibiades_mystery (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 09:03 AM Response to Reply #26 |
45. At 42 cents a share |
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DemReadingDU (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 08:39 AM Response to Original message |
40. Where are the protests? |
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Junkdrawer (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 09:07 AM Response to Original message |
46. Wait until the Alt-A's REALLY start defaulting later this year... |
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truebrit71 (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 01:08 PM Response to Reply #46 |
50. I HIGHLY recommend that everyone visit this thread and watch the Mr Mortgage Youtube... |
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SOS (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 01:42 PM Response to Reply #46 |
52. Alt-A's already just as big as subprime (and will grow as unemployment skyrockets) |
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MilesColtrane (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 02:30 PM Response to Reply #52 |
55. Roubini's basing those charts on a 5% decline? |
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slipslidingaway (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 12:40 PM Response to Original message |
49. ...n/t |
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MilesColtrane (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 02:17 PM Response to Original message |
54. Gramm-Leach strikes again. |
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spanone (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 03:24 PM Response to Original message |
59. when greed becomes criminal, people need to go to jail...they were gaming the system & lost |
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Elidor (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 05:25 PM Response to Original message |
64. All I want to know is... |
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slipslidingaway (1000+ posts) Send PM | Profile | Ignore | Sun Mar-01-09 07:05 PM Response to Original message |
65. n/t |
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