• Sprott Money
    05/06/2016 - 06:03
    The US, in its own decline, is showing this same self-destructive tendency. The worse things get, the greater the inclination of the citizenry to say, “Carry on, everything’s fine.”

Chris Whalen On The Zombie IPO: Is American International Group the "Blood Doll" of Wall Street?

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Tue, 01/25/2011 - 23:54 | 905195 Hephasteus
Hephasteus's picture

Initial Premeditated Offering

Wed, 01/26/2011 - 00:02 | 905208 Misean
Misean's picture

Jedi are not on the Dark Side, Sith lords are...sheesh.

And Timmah! is not offloading AIG onto the public. He offloaded AIG's toxic sludge ONTO the public, and is now passing the tasty bits to his masters at a steep discount...

Wed, 01/26/2011 - 00:17 | 905230 Caviar Emptor
Caviar Emptor's picture

I'm leaning more toward Frankenstein's Monster resurrected from the dead than a vampire blood doll for AIG's logo.

The resurrector-in-chief can get on the tube on IPO day with a lab coat and a 2 day stubble and scream: "Vee Haff Deezgovered Ze Zeekret To Lyfe Itzelff!!!"

Wed, 01/26/2011 - 00:30 | 905256 spekulatn
spekulatn's picture

Great stuff Mr. Whalen.

Wed, 01/26/2011 - 00:34 | 905268 RobotTrader
RobotTrader's picture

AIG is now almost assured to rocket up from here.

Just like Whalen's "C" - rated financials like COF and JPM have gone vertical the last 2 months.

Wed, 01/26/2011 - 01:17 | 905344 scaleindependent
scaleindependent's picture

Whalen has more dough than you, and what is more important, more integrity.

Wed, 01/26/2011 - 03:13 | 905469 SAME AS IT EVER WAS


Wed, 01/26/2011 - 03:34 | 905485 Sudden Debt
Sudden Debt's picture

I won't touch AIG even if they put a gun to my head.


Wed, 01/26/2011 - 00:54 | 905302 topcallingtroll
topcallingtroll's picture

Ya...great stuff. I thought regulators were more aware of the cross guarantee game after the oracle of omaha played it with general re and got wrist slapped.

Wed, 01/26/2011 - 01:33 | 905366 ebworthen
ebworthen's picture

What if AIG were in a tight scuba suit for the sake of the GS and other Wall Street squid?

Aside:  Did you see Obama dis Timmy AGAIN tonight at the SOTU?  Phew!  Completely ignored him beyond being face to face and avoiding eye contact and a handshake or inadvertent touch.

Wed, 01/26/2011 - 02:54 | 905451 midtowng
midtowng's picture

You're going to quote Hoover on how to avoid a Depression? Seriously?

Wed, 01/26/2011 - 08:24 | 905624 rcwhalen
rcwhalen's picture

Just remember that our ratings are not about stock prices.  We have 30k+ thousand retail customers whose main concern is safety and soundness.  I tell my clients to buy the A's for income and stability, the large cap "Cs" like JPM and C are for trading only.  Note the high betas of the latter.  And I actually like COF a lot but there is a small matter of revenue...

Wed, 01/26/2011 - 08:35 | 905641 rcwhalen
rcwhalen's picture

Thanks for the comments.  Here is your bedtime reading.  Quiz next week:

A New Deal for the 21st Century:
Less Entitlement, More Accountability


Chris Whalen


Wed, 01/26/2011 - 09:47 | 905787 I am a Man I am...
I am a Man I am Forty's picture

you should do a blood doll piece on fannie and freddie

Wed, 01/26/2011 - 13:55 | 906572 b_thunder
b_thunder's picture

Big Thank You to Mr. Whalen for a must-read piece.  Gets right to the point without resorting to thousands of numbers, formulas and spreadhseets.

Is anybody at the White House listening?   You think the NorthCom  will save your a$$es?


Wed, 01/26/2011 - 15:50 | 906952 michigan independant
michigan independant's picture

Thanks, when they get done chopping the rest up nothing else matters.

"General Electric CEO Jeffrey Immelt and Bill Daley were appointed as economic advisor"

Since I work Corporate they still eat there own...

Wed, 01/26/2011 - 19:57 | 907755 trustee
trustee's picture

Has Chris Whalen ever been right about anything? .............Didn't think so...

Wed, 01/26/2011 - 21:41 | 908115 Manbearpig
Manbearpig's picture

Not disputing the substance of his argument, but one nitpick: how does he get that the post-split equivalent at the beginning of '08 was $1400? Given the market capitalization at $41 is roughly $28B, that would imply the market value at the beginning of '08 was almost $900B, no?

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