Quote:
Originally Posted by Robbie
I could have sworn that when the big govt. bailout took place...the MAIN company that got bailed out was a corporation called AIG
Remember that? AIG.
And we were told by the media that AIG was "too big to fail" because...
They were THE insurance company.
All other insurance companies are under them. Without AIG all the insurance companies would go out of business.
So doesn't that sort of mean that there really is only ONE insurance company and all the ones we buy from are just different branding of the REAL insurance company: AIG?
And if that is not true...then we were lied to during the bailout.
Either they are lying now, or they lied then.
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My understanding was that AIG was the big insurer of banks and financial institutions. If they went down all of those banks would have crashed as well because all of their bad deals would have not been covered. Or, at least, so they say. To me the bailout was a big money grab and they gave us a good story as to why it had to happen.
I don't doubt that there are some big companies that own many different insurance companies. I just don't think there is a global conspiracy in place to try to fool people into buying insurance at a specific price by making them think there is competition when their really isn't.