AIG & China

AIG was founded in China, but of course Communists do not need insurance, so out they went as communism came in. In 1980 as China was liberalizing under Deng Xiaoping a young women from New Jersey opened and insurance company in China.

China was growing, and workers in a workers state could not be accountable for modern, leveraged complex financial deals like insurance. Her company grew fast, and New York based insurance business bought her out. China then was no big deal, but among China traders her accomplishment was astonishing. The company that bought her out was called.. AIG.

As China outsourcing, Japan and the rest of the world economy superheated due to socialist government policies of the USA, AIG was a lifeblood of underwriting risk, a kind of heart to the circulatory system of it all. I hear they have a trillion in assets. What we are experiencing is essentially a socialist policy failure. The US Government allegiance to socialism will not change, and certainly the people who predicted this will not be heard, so the taxpayers, as is the case in socialism, will lose out.

AIG has a history of crooked operations, and regulators rapped its knuckles once in a while, but failed in their job.

Now that the other Olympics, the ParaOlympics are over in Beijing, China is no longer supporting the USA economy. AIG assets held by the insurance companies subsidiaries... we'll see what happens... heads China wins, tails USA loses... so far the socialist policy makers in USA emptied out pensions (rotated in junk, rotated out the good stuff and sold it overseas...) ... now the insurance funds will be empty, so no one cn collect on those either. The dems and republicans are settling the conditions of surrender, and we taxpayers will pay whatever the chinese, etc, demand. Or, we go to war to change the subject.

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