Spitzer knows the emperor has no clothes, but how far does he really go with this one. The sad part is that AIG and our financial markets will eventually have their days, but what will actually cause the collapse is the real question? There is no way we can continue to print money, raise rates, fight off inflation (I laugh that people say we have none or very little), with stand high energy costs, outsource our jobs & watch our trade deficit soar, while the national debt increases by 24% annually without some major consequences. It could unravel over the next month, quarter or maybe it takes another year or two. The real question is WHAT will cause this inevitable crisis and Spitzer, Buffett, Greenspan or any one well known doesn't want to be associated with the triggering of this event. The 10K will be a farce no matter what is in it, but that real question is who would sign off on it at this point from AIG or PWC?
World's largest insurance company will never collapse. Too much cash. Many good insurance companies within this conglomerate(Remember SunAmerica?). Enron was a company the world could live without. So was Worldcom. The world will struggle without AIG.
Agree. Business does actually generate cash unlike Enron. However, if current/new customers start to shop business at more stable co.'s (those that have transparent financials), then AIG needs to generate cash in other ways. AIG may end up selling units and shedding employees, and worst case it would be a shell of its former self. Vultures will attack when AIG is down and start to take their business.