AIG Also known as American Insurance group also American International Group Is struggling today with media controversy in the past few months. Rumors have been circulating that the company has been handing out bonuses to Ceo's. All while the company AIG is taking in huge bail outs from the Federal Government Also known as the tax payers.
AIG handed out Bonuses of $165 million dollars, while the company is taking in $180 billion in tax payer bailout dollars. Obama is urging AIG to give back their bonuses to the government. Is this action open for debate? Yes. Lets Analyze this a bit more.
Well lets take a look at what has happened to the insurance industry in the past 16 years. It has been hit hard! It seems like no one has noticed the impact of 911, the Iraq war, and hurricane Katrina on the American insurance industry. This is not right and its not conservative at all.
It seems like alot of insurance companies are fighting with each other over weather to pay out. They don't want to pay full dues! Or even get down on their knees. This is simply because we are at war with a sovran nation and mother nature. When you mix the two together its not pretty.
Insurance dues are AIG's number one concern right now. AIG needs to start paying the consumers whats due. This is why they asked for the federal bail out money. Are the bonuses fair if you consider the size of the company? We are not talking about trillions of dollars in damage here. Katrina is a manageable total loss claim. With a total of 60 billion dollars in damages to property.
AIG needed a total of 170 million relating to reinstatement premiums for katrina. These are premiums that AIG pays to reinstate reinsurance coverage after AIG has surpassed its reinsurance limit. I hope this isn't what Obama wants back! Cause if so, bitch we got a problem!! Obama Waffled on katrina.
Not to mention the Iraq war. Costing American Tax payers Trillions. AIG has invested in Iraq and Now with Obama wanting to pull all US troops out of Iraq. This is going to cause more trouble for the American International Group. Terrorist threats are haunting the insurance giant. All of this should be taken into account when you think of AIG.
Thank you for reading my blog
Samuel J DeSantos.
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