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AIG Crisis Could be the Tip of an Insurance Iceberg
04-02-2009, 06:06 AM,
#1
AIG Crisis Could be the Tip of an Insurance Iceberg
AIG Crisis Could be the Tip of an Insurance Iceberg
April 1st, 2009

Via: Los Angeles Times:

The company’s situation reflects problems throughout the life insurance industry as investments suffer. Further strain could bring about a second financial crisis.

When insurance giant American International Group Inc. imploded last fall, the firm’s problems were quickly blamed not on its core insurance business but on an obscure operation that traded exotic mortgage securities.

But as the economic crisis deepens, it has become clear that AIG’s problems extend across most of its business lines, including its massive life insurance and retirement services operations, which reported a staggering $18-billion quarterly loss this month.

Research Credit: ltcolonelnemo

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04-02-2009, 06:17 AM,
#2
AIG Crisis Could be the Tip of an Insurance Iceberg
By this point, I don't think it's a matter of if or when the second phase of the financial collapse but where.

While this article is insightful, and correct, I am still betting the next phase will be the collapse of the commercial real estate market. Who knows, maybe we should run a poll. lol
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04-02-2009, 06:27 AM,
#3
AIG Crisis Could be the Tip of an Insurance Iceberg
Agreed, commercial real estate is hurtr as are credit cards, and auto loans.
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