One of the many AIG buildings
Thursday, November 6, 2008
I feel that AIG made multiple errors this year that forced it to have to take out a loan from the government. Firstly, they participated in Sub-Prime Lending which doesn't work most of the time. I feel that being power crazed and and greedy forced the company to make rash decisions. In my opinion, AIG almost deserved to fall because they had been playing with fire and by losing people a lot of money. I now have a spark of interest in sub-prime lending, and to fully understand this topic, I feel that I will need to explore the world of Sub-Prime Lending. I am also interested in how and why AIG felt that they were able to give their high ranking employees large amounts of money and vacations as a "prize" for the fall of their company. I would like to find out where this money came from, and if AIG truly was able to afford these large "promotions". I am still interested to see what happens next.
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