AIG Bailout:Uncle Sam's Most Timely and Sensible Action
In the Philippines, thousands of worried clients of AIG's local affililiate/subsidiary Philiamlife, have expressed apprehension about the ability of AIG Philippines operations to respond to customers' adverse actions in relation the the rumored questionable financial conditon of one of the of the biggest insurer in the world. Hence the bail out anouncement is a welcome development.
The local management of AIG affiliate represented by Mr. Jose Cuisia explained that Philamlife is adequately capitalized and and there is no reason for its clients to panic. The Philippine Insurance Commissioner, Mr. Eduardo Malinis, was quoted as saying that Philamlife is the largest insurance company in the Philippines and has the strongest balance sheet in the industry.
As a result of the recent bail out by the US government of AIG, its affiliates and subsidiaries around the world including the Philippines, the thousands and perhaps millions of its clients worldwide can sleep well knowing that their investments are safe, at least, for now.
Published by Leo Reyes
Leo is the editor and publisher of RingLive Sports, a popular boxing and basketball news site for boxing and basketball enthusiasts. He is also a news writer for Digital Journal, a popular Canadian news orga... View profile
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2 Comments
Post a CommentWatch Warren Buffett, who owns the competing GEICO government insurer, buy up the stock now of AIG so he can get into the health care field for Obama's national health care plan.....this was all a manipulation on the public, people, for those movers and shakers on the Council for Foreign Relations in New York, and their Senate lackeys on the same named committee on the Hill.
The economy could be fixed very easily, by following our Constitution. By the way, America, on that AIG "bankruptcy", AIG is a foreign based global insurer, based in London. Congress had no authority at all to bail them out at the American taxpayer's expense. They also had assets worth several billion over their liabilities for the past five years. They aren't bankrupt, it's just that the Vice President of AIG is from Israel and sits on the Council for Foreign Relations, that New York think tank in New York whose members also include McCain, the Clintons, the Bushes, Obama, Biden,Ted Turner, Rupert Murdoch, and six of the top eleven Obama cabinet members. You think things are going to change.......the only thing that has changed is the mouthpiece, and they are selling out our country to the highest bidder.