Saturday, September 20, 2008

A I, A I, G - With an oink oink here and a oink oink there

Eighty Billion, but who's counting.

The only thing Robert Willumstad was counting was his Golden Parachutes; and counting on the US Taxpayers largess.

Lest I pin it all at the top, I have watched these Insurance sales people from AIG Valic prey on my co-workers for years now. Selling them variable annuities. Collecting massive commissions and fees for selling them those variable annuities. Shearing them like so many sheep lines up to enter the trough. Commission for selling that was no more than filling out the forms.

Variable annuities are an insurance product, not an equity product. They would not have survived a collapse of AIG. Do you suppose any of them know how close they came? I haven't met any.

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