The headlines are full of the current story about AIG and the actions of the New York Governor, David Paterson, and the Federal Reserve, but there is a lot more to the story particularly as to the donations to McCain and the donations to NY Democrats as well as the RNC ($15,000 3/28/08) and DNC $10,000 6/7/07, etc.
It is a huge insurer, not just of businesses, but also individuals. It is a major player in workers compensation insurance and a reinsurer, that is back up insurance, for many smaller insurance companies.
This will have a major impact on insurance rates for individuals and is the kind of thing that insurance companies use to launch major attacks on our courts and the rights of injured people, also known as "Tort Reform".
So look at the sites, below, as to who AIG is, who Hank Greenburg, its "creator" and ex head is, and the other links to other sites from business journals and MSM.
Here is what AIG’s web site says about the major insurance coverage they sell to individuals and businesses as well as for Workers Compensation, from its web site
You need to insure the financial security of you and your loved ones, regardless of what life throws your way. AIG American General insurers offer insurance protection through a range of life and health insurance products to suit each stage of your life.
Term Life insurance offers financial protection for a specified period of time, known as the term. Term policies typically provide coverage for 10, 15, 20 or 30 years, or until a specific age (for example, 65).
Universal Life insurance is a flexible policy that combines a death benefit with a cash value accumulation component.
Variable Life insurance combines a death benefit with cash value accumulation that can be allocated to a wide variety of investment options.
Whole Life insurance remains in force during the entire lifetime of the policyholder and offers a guaranteed death benefit as well as a guaranteed cash value.
Cancer Care insurance helps to offset some of the costs associated with cancer treatment and recovery. These include hospital confinement, an ambulance to and from the hospital, Intensive Care Unit confinement, radiation and chemotherapy, surgery, a second surgical opinion and disability income. Some policies also include a death benefit.
Auto insurance and Motor Vehicle insurance provides financial coverage in the event of an accident, theft, vandalism or collision involving a motor vehicle. Policies typically provide property, liability and medical coverage. Property coverage pays for damage to or theft of a vehicle. Liability coverage takes care of the policyholder’s legal responsibility to others for bodily injury or property damage. Medical coverage pays for the cost of rehabilitation, treating injuries and in some cases lost wages and funeral expenses. Auto and RV insurance covers cars, RVs, motorcycles, all-terrain vehicles (ATVs) and watercraft.
Automobile insurance covers most "daily-use" vehicles including sedans, convertibles and SUVs.
RV insurance covers all recreational vehicles, ranging from motor homes and camper vans to converted buses and travel trailers.
Motorcycle insurance covers on- and off-road motorcycles and ATVs, including scooters and high-
Tailored general, excess and specialized programs for a broad range of businesses.
Workers' Compensation Insurance
Provides programs to improve loss experience and enhance the productivity for companies of all types and sizes including construction and transportation companies, manufacturers and public entities.
Excess Workers' Compensation
Provides coverage solutions for self-insured clients needing excess workers' compensation insurance as a condition of self-insurance.
AIG Longshore®
Here are the background resources on AIG and Hank Greenburg you may want to check for further information on who your tax dollars are bailing out.
Here are links for background on Hank Greenburg and AIG:
http://www.bloomberg.com/...
Fraud conviction of AIG and other insurance executives
http://www.nytimes.com/...
Former AIG Exec paid $ 47 Million as he leaves in July
http://www.nytimes.com/...
and
www.businessweek.com/magazine/content/06-13/b3977081.htm
AIG offshore tax haven---Cayman Islands, etc
http://www.allbusiness.com/...
AIG political contributions –especially to NY Democrats
http://www.insurancejournal.com/...
Political contributions—McCain 10/23/04, $1,000, 6/30/07 $2,300
RNC $15,000 3/28/08
Chuck Schumer $1,000 7/26/01
DNC $10,000 6/7/07
GW Bush $1,000 6/13/03
And more
http://www.newsmeat.com/...
This will have a major impact on insurance rates for individuals and is the kind of thing that insurance companies use to launch major attacks on our courts and the rights of injured people, also known as "Tort Reform".
So look at the sites, as to who AIG is, who Hank Greenburg, its "creator" and ex head is, and the other links to other sites from business journals and MSM.
Particularly note the campaign contributions and this or your own favorite sites for donations from AIG, its many sub companies and Greenburg, as you follow this story.
See if McCain is tagged by the MSM with his relationship to AIG and Greenburg and $$ since he claims not to engage in such conduct.
Keatiing Five again? Will McCain be able to slip out of this connection with Greenburg like he did Keating?