Fed To Rescue AIG - Inviting Non-Political Discussion

[Aerkuld]

Originally Posted by Kurt V

Closed at $3.75, I bought this morning at $2.70. Now down to $2.55.

What would happen to the shares if AIG was broken down into smaller and seperate entities?

[hardflex]

Reviving this old thread because I just watched a movie called 'Client 9' streamed on netflix. It's a documentary about the rise and fall of elliot spitzer, but included are some of his successes in attempting to clean up wall st, including the 'late trading' of mutual funds and others. They focus on Greenburg at AIG, cover an illegal loan 500 million dollar load Greenburg attempted in an attempt to boost the AIG stock price. Also, AIG was assisting other companies in 'enron style' accounting tricks to boost stock values. Greenburg was removed when the accounting firms would not certify any financial statements as long as Greenburg was the CEO.

Interestingly, Spitzer was called off pursuing Greenburg by the Feds, who said they were going to prosecute it (which they didn't)

It's a good movie, full of interviews with the Primary people just prior to the collapse in 2008 Well worth the 2 hrs IMHO