is that supposed to say one quarter of a trillion dollars?

Yes - fixed.

Thank you for this ticker, Karl. This issue needs to be spread far and wide. The truth about AIG needs to be revealed and we need to know WHAT IS IN IT FOR THE AMERICAN TAXPAYER BEFORE PUTTING ONE MORE CENT INTO THAT EPIC FAIL INSTITUTION.

Thanks Karl

If this is true...

How do we get MSM to report it? Until then, its tinfoil.

If MSM reports it, then wondrous things will happen. This could be a MAJOR Black Swan Event.

It doesn't seem tinfoil to say that AIG has lots of ties to China. It doesn't take much of a leap to see that a US BK filing would hurt the Chinese subsidiaries and such. We have that video from the House Rep saying the bailout helped foreigners.

I don't think this ticker said anything to tinfoil-y. Just asks questions.

Would Santelli be interested in this story?

Not tinfoil to me, very plausible....Its on ticker, Karl has given it some time, MSM will be on it relatively soon, especially when the DOW craters below 7000 very soon.

Pitforks are coming over the hillside.

I'll remind everyone that most j6ps won't care... until the social benefits stop and/or their bank accounts fail.

When and why did Greenberg leave AIG? Every layer of the AIG onion needs to be peeled, because each layer has damage.

this whole thing smells of fraud/conspiracy.

Remember GoldmanSachs and other IB "counter party risk". you bailout one too-big-to-fail company to save several others.

If they dont do anything about AIG, most of the survived IBs will be dead-banks-operating.

So let me see if I have this right.

In September the Chinese threatened economic warfare on the US if we didn't make them whole on some of their US investments.

Bernake and Paulson met with top leaders in Congress to tell them that they had until Monday to give them the money to be funneled to the Chinese or else the Chinese would trigger the collapse of our economy.

So the TARP was a way to get this money to the Chinese without anyone really knowing about it. That's why we can't be told where exactly all the money has gone.

Is that the gist of it?

Ex-AIG chief Hank Greenberg to launch new insurance joint venture
By Lavonne Kuykendall
Last update: 7:56 p.m. EST Jan. 26, 2009Comments: 1
CHICAGO (MarketWatch) -- Former American International Group Inc. (AIG:

http://www.marketwatch.com/news/story/ex....

Quote:

Chief Maurice R. "Hank" Greenberg will reunite with several former AIG executives in a joint venture that will compete directly with the troubled insurance giant.

C.V. Starr & Co. Inc., run by Greenberg, launched Iron-Starr Excess Agency Ltd., a joint venture with Ironshore Inc., a Bermuda-based insurer that has hired several key AIG executives in recent months.
The joint venture will act as a specialty lines insurance and reinsurance managing general agency to write catastrophic excess casualty insurance products for Fortune 2000 and other clients, with policy limits up to $75 million, a key market for AIG.

"There are significant opportunities in this market, and C.V. Starr together with Ironshore has the team to get the job done," Greenberg said in a press release.

Some of those opportunities come as AIG is hobbled by huge losses in its non-insurance businesses that led to a $60 billion credit line as part of its federal bailout. Under newly installed chairman Edward Liddy, AIG is in the process of selling off many of its businesses to pay off its debt.

The backing from C.V. Starr will put Ironshore in a good position to chase big AIG clients. Both Greenberg and Ironshore declined to comment on the joint venture.

"This partnership enables Ironshore to enter the excess casualty market with additional backing and support to offer larger limits, consistent with the needs of these clients," Kevin Kelley, Ironshore's CEO, said in a press release. Kelley is the former chief executive of AIG's Lexington Insurance commercial insurance unit. AIG's Liddy has had a contentious relationship with Greenberg, AIG's largest individual shareholder, and Greenberg has criticized Liddy's leadership in letters filed with the SEC. Liddy has said that cutthroat competition for AIG's customers and employees is one of the biggest dangers the company faces as it struggles to keep customers while preparing its business units for sale.

"Anyone who wants to start an insurance company or beef up their company will come to our organization and try to pick off our people," AIG's Liddy predicted in a CNBC interview last month. "If that happens, we won't be able to maintain business we want to keep and we won't be able to sell for the values that we need."

JEEZUS!!!!

That's the scariest ticker I've ever read. omigod.

Unfortunately, it all makes perfect sense in hindsight.

Funny... I always assumed GS comes out saying it has no risk to market, all hedged.
AIG with HUGE trading desk gets tons of money to pay off synthetic contracts. Hmmm why not let it go under and let the otherside eat their counterparty risk as they should?

Always figured the other side was GS and/or maybe MS

No matter what they took net zero contracts that should have failed and hooked the taxpayer for it. Unreal!!

Immediately two people couldn't understand my post when I said it was tinfoil so now I have to spell it out for them. Or should I say, immediately two people decided they wanted to interpret my post the way it best fit their needs?

The information here on the TF and this ticker is sufficient evidence for me. HOWEVER, before America accepts it as something other than tinfoil it would have to be presented through the MSM. America gives MORE CREDIBILITY for stuff presented to them via the MSM, for whatever reason I have no idea.

I hope I made myself sufficiently clear.

Loudongroup - What makes you certain that MSM will be presenting it soon? They haven't yet, but you think its just a matter of time? WHY? You think the MSM is standing by, reading every ticker to see what revelations pop up? You forget who controls the MSM?

This isn't classified information, its simply not disseminated.

Greenberg steps down from AIG in 2005 because Elloitt Spitzer :

Quote:

Spitzer alleged the Greenberg-engineered deals drained value from Starr's main beneficiary, a charity known as the Starr Foundation, selling assets for $2 million that were worth $30 million at the time and would be worth $6 billion today.

http://www.washingtonpost.com/wp-dyn/con....

Then last March 2008, Spitzer resigns because of call girl incident. Hmm, yep, that sound about right for payback from the former head of AIG.

http://www.google.com/search?client=safa....

Forget I said it. Who knows..... Perhaps Santelli will use the material....All I know is that we are going to have riots in major urban centers within 6 months. Regardless of what the MSM says or doesn't say.

GL.

If they just let all these companies fail, then they could come and bailout the ones that survive.

Instead they are bailing out the failures and crowding everything out and paying the criminals for their crimes.

Enough already.

Tinfoil powers activate!

Hmmm...CNBC sent their top (in a tv sense) talking head to China this week to shill for China.

I wonder if GE has any part of this.

I did not know it was AIG and still think it's not JUST AIG, but I told anyone who would listen and some who would not back in october that the bailout was going strait to China. My theory was that the Chinese said "Make our bad investments whole,it's your damn fraud that mad them bad. Make them whole or we will stop buying treasuries." I still think that's the way it went down.

You know, the MSM has successfully avoided discovering where the TARP money went. Now that AIG has lost $60 billion in one quarter (I wonder how long that record will last? Dozens of years, or closer to dozens of days?), and AIG got so much money, it almost can't be avoided. Either it is found out and the phone lines to Congress melt, with accompanying street protests, or it remains covered up and confidence (what little is left) evaporates. We know what happens then. Hope you're all short.

This is surely a major league, class-of-its-own, multi-megaton-sized WTF event. If it turns out that we caved to Chinese blackmail, the markets will crash and historians might date the 2nd American Revolution to today.

Arent we starting to look for slanty eyed orientals under the bed here?
I mean, come on, ooh ooh look the company was started in China in 1919. It MUST be a pinko conspiracy.