{"id":193486,"date":"2008-12-12T00:18:00","date_gmt":"2008-12-12T05:18:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/12\/12\/aig-again\/"},"modified":"2008-12-12T00:18:00","modified_gmt":"2008-12-12T05:18:00","slug":"aig-again","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/12\/12\/aig-again\/","title":{"rendered":"AIG Again"},"content":{"rendered":"<p>Well, it looks as if the largest welfare sponge, AIG is now <a href=\"http:\/\/www.cnbc.com\/id\/28172517\">dawdling on its asset sales to return to viability<\/a>:<\/p>\n<blockquote><p>The CEO of U.S. insurer American Insurance Group, 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.<\/p><\/blockquote>\n<p>The translation here is: as long as we can rely on our sugar daddy at the US treasury, we won&#8217;t sell until prices go up, and if we run short on cash, we&#8217;ll hit up the taxpayer for some more.<\/p>\n<p>And they <span style=\"font-weight:bold;\">will<\/span> need more taxpayer money, because they are <a href=\"http:\/\/www.reuters.com\/article\/businessNews\/idUSTRE4BA46B20081211?feedType=RSS&amp;feedName=businessNews\">selling insurance at rates that are clearly below cost<\/a>, so as to rebuild their market share.<\/p>\n<p>They don&#8217;t care that they lose money on each sale, Uncle Sugar will bail them out&#8230;Again&#8230;and Again&#8230;and Again&#8230;and Again&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Well, it looks as if the largest welfare sponge, AIG is now dawdling on its asset sales to return to viability: The CEO of U.S. insurer American Insurance Group, 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 &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[970,1004,1045],"tags":[],"class_list":["post-193486","post","type-post","status-publish","format-standard","hentry","category-corruption","category-finance","category-insurance"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/193486"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=193486"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/193486\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=193486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=193486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=193486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}