Tuesday, December 01, 2009

Report Cites Shortfall in Key A.I.G. Business - NYTimes.com

Report Cites Shortfall in Key A.I.G. Business - NYTimes.com: "An independent analysis of whether the insurance industry has been setting aside enough money to pay its claims estimates that the American International Group has a shortfall of $11.9 billion in its property and casualty business."
And we, the taxpayers, now have a substantial interest in AIGs solvency because we bailed them out and want our money back...don't we? But the word was that the company was fine except for that crazy derivatives/credit default swap business. And now they say, "Well, and except for the property and casualty business." Say what? Is that supposed to be just a sideline or something? Sounds like insurance to me.

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