I love being right, well who doesn’t actually. But I said in a recent post that the troubles at AIG were not over and they are not, once again, huge loses, AIG posted the worst quarterly lost in the companies entire history.
You can expect that things are far worse than they are telling us. A company of that size dragged down the entire sector on the Friday after the reported. It is a good case for the Ma Bell treatment on AIG. When companies get too big, it’s time to do some laser surgery and break them up. Now I know Bush won’t do this because AIG is part of his base, but anyone can see that when companies get this big, they cause trouble by the very fact that there is plenty of room for the stupidity factor to up big time.