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Initial Premeditated Offering
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...
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!!!"
Great stuff Mr. Whalen.
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.
Whalen has more dough than you, and what is more important, more integrity.
I won't touch AIG even if they put a gun to my head.
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.
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.
You're going to quote Hoover on how to avoid a Depression? Seriously?
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...
Thanks for the comments. Here is your bedtime reading. Quiz next week:
A New Deal for the 21st Century:Less Entitlement, More Accountability
you should do a blood doll piece on fannie and freddie
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?
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...
Has Chris Whalen ever been right about anything? .............Didn't think so...
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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