"Philadelphia Annuity Insurance"
AIG crisis could be the tip of an insurance iceberg
The company's situation reflects problems throughout the life insurance industry as investments suffer. Further strain could bring about a second financial crisis. When insurance giant American International Group Inc. imploded last fall, the firm's problems were quickly blamed not on its core insurance business but on an obscure operation that traded exotic mortgage securities. But as the economic crisis deepens, it has become clear that AIG's problems extend across most of its business lines, including
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CNBC and Annuities
I know it has been awhile since we have posted, sorry. The market has been a mess, but as you may have read, we knew that for awhile. We called the temporary bottom and were right, but we did not post that it was going to go lower. However, this latest rally is a bear market rally, so don’t get sucked into long-term buying. Anyhow, we were watching CNBC on Friday when we got all
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