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Politics : Ask Michael Burke
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To: GuinnessGuy who wrote (118022)3/20/2009 11:44:36 AM
From: Knighty Tin7 Recommendations  Read Replies (3) of 132070
 
Yesterday, some talking head mentioned that AIG has written more live insurance policies than anyone else in the country, owns more real estate, leases more planes, etc., and has to be rescued. All of that is true except for the conclusion. Are airlines going to stop using a 767 if AIG goes under? Nope, they will lease it from the bankruptcy judge or the successor co. There will also not be mass closings of the office buildings they own. And life insurance is very profitable. Somebody will want those policies and the cash reserves.

So, who will it hurt if AIG goes under? Speculators and foreign banks and US banks that were speculating on crap. They would have to study the impact of that, but it is not as devastating as the talking head implied.
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