Tuesday, September 16, 2008

AIG @ close

At least it didn't close on its day low...

Pimco went from Hero to ZERO in no time.

When Lehman is not bailed out, seems like all the winnings made from the narrowing of interest rate difference between Fannie + Freddie and US treasury was all lost by today.

When PIMCO as one of the biggest debtors of Lehman lost a bundle hor hor hor

Its sick.


  1. sick and scary indeed.
    let's see, no more AIG logo on a certain RED shirt from old trafford?

    pakman, do u think Goldman/Morgan are heading along the same path as LB?

  2. pakman,

    don't waste your time with on-line apple pie anymore lah..

    by the way, looks like exposure to lehman is quite limited to non-US investors according to the blog of mr market

  3. I have already posted this comment in previous thread and just post in here for arising public interest.


    Just wonder the most conservative scheme in MPF, such as the guarantee return portfolio would lose big money becasue the big drop in grading of bonds in America.

    If this happens, this may be time to fight against MPF, at least we need to figure out a revolution.

  4. Yo boys.

    Lehman is not the meat. AIG is.

    I agree, it is for all those schemes, plans, insurance they have sold to the people of Hong Kong.

    If AIG managed MPF gets into any problems, I can promise you two things...

    1. A lot of protest, so there will be tougher licencing, which leads to...

    2. Who ever remains as MPF managers, will charge a fucking arm and a leg in fees.

    God bless Donald Tsang for a mob will come after him.

  5. 伯文今次要同我討回公道!!

  6. Pakman,

    The only way is all Hong Kong people fuck off to MPF, we need not a forcing program, a monopolized system to push our valued money to the fucking fund manager.

  7. 呢鋪真係百年基業, 一鋪清袋.
    連保險公司都出事, 真係好大獲.

    同客做埋咁多低風險plan, 自己咪又係投資晒去d高風險產品度, 所以我永遠都咁進取.

    上年已經過o左自己o既"資金自由行海嘯" (夾死了~)
    雖然今年又要再次o係谷底出發, 但心情比上年更堅定, 因為上年我已經上過一課了.

  8. 可憐的美林, 本想養豬劏..
    結果.... 被??劏...

  9. 可能平安買入香港a記....
    aig close???

  10. hey, from my limited understanding of insurance companies, their premium income relating to guaranteed insurance products are deposited (or locked) in separate accounts. i.e., if the company dies / is acquired, the guaranteed benefits of existing policies will remain in-force. the units that bear the brunt of the CDS liabilities are probably several layers away from the insurance entities...

    the guaranteed bond funds, on the other hand, are completely separate from the above. the same problem is applicable to ALL guaranteed funds in the market, however, as the "guarantee" is mostly based on treasury / agency bonds + interest rate derivatives.

  11. Hello All & Pakman, Dont need to worry anymore now, they are being BAILOUT from the US govt for 85 BILLION dollars...It is a loan to exchange for 80 % stake at AIG...all your policy money will be paid by the US Govt...so what is means ? that means NATIONALIZATION !!! Damn government !!! It looks like they are bailing out every entity out there who like to KNEEL DOWN to see the KING of USD (Ben and Hank)...Probably we will see Wamu, Wachovia, UBS, GM, Ford, Chrysler, UA, Delta and big re-insurers (Ambac + MBIA), some other small US Banks and lastly (Merill Lynch + B of A + Morgan Stanley = TOTAL DAMAGE in the end of the game) in the following weeks time... The last man standing would be JP Morgan & Goldman Sachs...

  12. 在下才疏學淺,想問問題‧‧‧

    "a loan to exchange for 80 % stake at AIG"

    果80 % stake at AIG係俾政府做
    - 利息; or
    - 抵押; or
    - others?

    另,AIG洗唔洗係市面回購番d股份,去湊夠80% stake?定係我理解錯左?


  13. "a loan to exchange for 80 % stake at AIG" means that AIG is using their 80 % of the company shares to use it as collateral in order to exchange for 850 billions to survive..The US Govt will buy AIG shares at open market to absorb 80% equity in the company. US Govt said it was a short term loan but this is a TRUE BAILOUT of a Giant company. AIG has LOADS of CDS, CDO, MBS insurance contracts that if the market blew up like now, AIG will have to repay every single banks that contributed a premium onto protecting their CDO & MBS..AIG has over MULTI - Trillions & Trillions of unpaid obligations and it is now the government to loan them the money and take care of it but this does not end here, the banks will keep claiming for their losses and AIG has to pay them, plus the hurricane Ike Claims and any life, property,risk claims outstanding. It is CLEAR that AIG does not have this Multi - Trillions (guess how much ?) to paid to all of these boys..So, that means Govt will eventually needed to print as much more money to pay these debtors in order to keep AIG and the name to stay afloat...

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