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AIG Being Sold After the Massive Government Bailout. People Should Take Note of Such Prominent Examples of Government and Big Business Merging and Beware of Fascistic Control.

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AIG being sold: AIG, the American International Group is an insurance company that has beaten the bankruptcy specter with the help of the U.S. government.

Although they’ve received bail-out money, they are still less than forthcoming.

That help remains a little suspicious; there is no good reason why the Federal Reserve and the Treasury Department would put together a bailout package without notifying the White House and Congress.

What were they trying to hide by being so secretive?

Interestingly enough, once Congress did get involved, the bailout went from around $80 billion to over $150 billion, with Congress getting nearly an 80% stake in the company.

Congress is not supposed to get involved so directly in big business; that speaks more of a socialist society involved with controlling the economic marketplace instead of a democratic republic with a free market economy.

AIG is being sold now in bits and pieces in hopes of holding off complete failure of the company.

The Philippines Unit of the company is among many facets being sold off in order to cover its debt to the government.

“When a government controls both the economic power of individuals and the coercive power of the state… this violates a fundamental rule of happy living: Never let the people with all the money and the people with all the guns be the same people.”

– P. J. O’Rourke

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AIG Being Sold

AIG’s aircraft leasing company, International Lease Finance Corporation with its fleet of 900 aircraft, stand to cover $50 billion of the debt when sold.

Due to the overall image of the international insurance market in the current economy, the value of many of the pieces of AIG being sold are falling incredibly far.

Selling them off in order to pay off the government debt may cause the failure that the government is trying to keep from occurring.

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Staying in the Red

The only option the government may have is taking different pieces of the company in exchange for a percentage of the loan.

Since the government is not in the insurance business, it would be a rather interesting and perplexing move.

As of March 2009, AIG reported losses for the fourth quarter to be around $61.7 billion dollars, almost as much as the initial bailout loan.

These losses were the worst in company history; with five straight quarters of losses, the total losses are well over $100 billion.

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Business was Good

Maybe AIG being sold will be the only way to stop the company from continuing with such disastrous losses.

AIG is the largest underwriter of commercial and industrial insurance in the United States.

It is also one of the top life insurance companies in the country as well.

AIG has numerous companies providing similar services in various countries all over the world as well.

Pieces of AIG being sold should turn a decent profit for the company giving it a potential new life.

“For the great majority of mankind are satisfied with appearances, as though they were realities, and are often more influenced by the things that seem than by those that are.”

– Niccolo Machiavelli

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