Dance like no one's watching

AIG has the capability to bail itself out by selling profitable assets/subsidiaries. AIG requires bridge loan of USD40b from the Federal Reserve in the interim. Fed Reserve pressures authorities to allow AIG to borrow USD20b from its subsidiaries instead. Quick pull on the trigger by credit rating agencies results in AIG having to post a […]

By Hugh Son Sept. 16 (Bloomberg) — American International Group Inc. investors led by former Chief Executive Officer Maurice “Hank” Greenberg may consider taking control of the insurer through a proxy fight or buyout. The investors also are considering acquiring New York-based AIG’s subsidiaries or making loans to the company. They disclosed their options today […]

By Erik Holm and Christine Richard Sept. 16 (Bloomberg) — A collapse of American International Group Inc., the insurer seeking to raise as much as $80 billion, would have consequences for financial firms around the globe, analysts and investors said. Wall Street’s top firms, and the biggest companies in Europe and Asia, have bought protection […]

Heard from Phiten today that there was a long queue of people at the AIA Customer Service and the GE Building during lunch as people rushed to surrender their insurance policies in light of the bad patch AIG is going through.  Gosh.  I suppose if a person isn’t really involved in the financial industry, the […]

Many emails flying around from management (looks like US is working overnight) regarding AIG’s downgrade from S&P ‘AA-‘ to ‘A-‘ and AHA’s (American Home Assurance Company) downgrade from S&P ‘AA+’ to ‘A+’. The Beast also sent an email to us saying if any of the cancellation clauses in our policies are triggered ‘cos of the […]

Lehman Brothers announced today that it was going file for Chapter 11 in the US today and the NY Times reported that AIG has sought a bridge loan of USD40bil from the Federal Reserve to tide over its short term liquidity squeeze.  Got a few calls from clients asking for updates on AIG & its […]

Ok… cheapo me has been looking for ways to raise the viewership of my blog ever since it got dropped from search engines thanks to those (damn) spam hackers.  I found the Nuffnang communnity site, innit.nuffnang.com where you can post an excerpt of your blog post and people can click on it to read!  Of […]

Woke up early (i.e. while it was still a.m.) today ‘cos I thought I could help Iceman collect his $50 prize from the National Library.  Unfortunately, they’re closed on Saturdays.  Slackers.  Decided to watch TV… sigh.  Nothing good on either.  Channel surfed and paused at Kids Central.  Don’t know what crappy cartoon was being shown.  […]

Heard today that I may not be going for our regional product class conference after all.  Seems like senior management is not happy with the fact that even though my department has almost hit our very high budget for the year, the income we earned is considered inferior because it’s mainly "non-renewable" income. We have […]

oldest cousin on my mom’s side’s wedding tonight.  i’m so proud of myself.  makeup went on perfectly.  no crooked eyeliner, no smudged mascara, eyeshadow looks ok.  all in 15min.  hehehe.  very, very rare. i’m feeling a little sneezy though.. think lack of sleep.  think i better go take a clarinase before i leave… don’t want […]