Written by Timothy Blake on October 09, 2008 under Archives, Editorial
The timing could not have been worse for AIG. I read the first story of the “Retreat” on the heels of the $85 billion and sympathized. AIG will not be able to win. Unlike naked short selling on the stock market, resorts and business actually have and reserve assets. Customers are not allowed to tie up an asset until the fashions or seasons change and they can then fill their position by paying sale prices. The outrage will be unanimous and AIG will be the butt of every joke. Incensed rhetoric of congress and the senate will be heaped upon them.
