AIG has completely given up.  As I have mentioned, I owned it from $2.02 down to $1.45 in a long term account.  I changed my mind about the “long term” viability of AIG and expect it to be swallowed up by a government entity as soon as they are done splashing the $180 billion dollars that we (taxpayers) gave to them.  Money well spent?  Probably not.  Consider AIG the sacrificial lamb.  If the gov’t gave $180 billion to all the names that ended up receiving it through AIG, there would have been a bigger fight against the various stimulous packages that have been pushed through.

By using the shell of AIG, they can dole out billions to foreign entities, Wall Street favored firms (GS), and others.  It is  more orderly to set up one company to be the hated scapegoat than to tar the entire industry.  Aparently GS is putting their money to good use with huge volume automated trading.  GS is in the driver seat.  If you don’t believe that, please read about how Goldman Sachs is at the center of the financial universe.   Chasing the mighty dollar!  Markets and country be damned!

AIG is now trading at $14.11. That is a split adjusted $0.70!  I feel lucky to have only lost 25%!

AIG

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