Opinion on  American International Group Inc. (AIG)     Sector: Financial  >  Industry: Insurance (Prop. & Casualty)
Sell the mono mega Burp!

<font> Jeez, why would you want to by a tub of lard with a leg in the coffin, the money is all gone here..they cannot get an IPO out and it has risen dollars when its worth pennies </font>

AIG has lost its chance to get an AIA IPO in Asia as bankers shy away from sponsoring repeat harakiri in the only remaining profitable global markets, while AIG has also drunk up most of the $180 b that came its way and more that came from its CDS writers at GS And LEH. Why did they write the insurance/default swaps because they would never pay any claim ..but why wouldn't they pay the claim because they would have nothing left

Welcome to AIG, Bob Benmosche.

At the top of your to-do list as the insurer's new CEO : Oversee the spin-off of two of AIG's core life insurance units. And, in an unprecedented move, sell stakes in those units to the Federal Reserve. All of this in just a matter of months.

It's part of AIG's master plan, known as 'Project Destiny,' which aims to repay a big chunk of the $82 billion in loans owed to U.S. taxpayers.

AIG is breaking off three huge subsidiaries: Its property-casualty business, recently renamed Chartis; Southeast Asian life insurer AIA; and foreign life insurance unit ALICO. Chartis was spun off last week, but its shares will be not be sold to the government.

Bold moves by the Fed. The New York Fed will take a $16 billion preferred interest stake in AIA and a $9 billion share of ALICO. In exchange, AIG will not need to pay back $25 billion of its loan. AIG expects the deal to close by the end of September.

With the new Metlife inductee, the investment bankers will have a field day cutting this stubborn megalith which lived by virtually no rules into a domesticated pony for the american market, while earning big fees on the way, Hank having already made a lot of ,money in underhand deals and veritable scams and without its pricing power AIG and its broker AG will be fodder for the ex forces competition and the Berkshire Hathaway companies among others..