If you are an investor (long or short term) this might be something to look more deeply at as protection research for all your investments. Because remember the Great Recession was partly triggered by massive problems with Credit Default Swaps. The biggest insurer on earth (that I know of (that actually deals in Credit Default Swaps) is AIG.
So, the inauguration of Trump as president could already be triggering another Great Recession that might occur somewhere between April and October of this year. Since Trump is against protecting smaller investors in any way shape or form and only interested in multi-millionaires or billionaires the way they invest you may need to protect yourselves by doing research now instead of later if the market tanks because of what Trump is doing to the country and world now.
The completely irresponsible way he is presently leading towards killing poor and middle class people by screwing with Obamacare is an indicator that he really is lying to people when he says he cares about the little guy.
The only exception to this is jobs.
But the opposite is true regarding any small investors that aren't worth 100s of millions or dollars or billions like him.
AIG BOSS TO STEP DOWN AFTER MASSIVE LOSS
AIG said Thursday that CEO Peter Hancock, appointed less than three years ago, will remain as the company’s chief executive until a successor is found.
The announcement came after American International Group Inc. in February reported a fourth-quarter loss of $3.04 billion and a $5.6 billion pre-tax charge to boost its claims reserves. The results missed Wall Street expectations, and company's shares plunged 9 percent in one day.
Weeks earlier, AIG said it had agreed to a reinsurance deal with National Indemnity, a subsidiary of investor Warren Buffett's Berkshire Hathaway. The company agreed to pay $9.8 billion for the agreement.
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The company paid a record $1.64 billion in February 2006 to settle civil fraud charges with federal and New York authorities, and it apologized for having deceived investors and regulators with misleading accounting practices stretching back two decades.
The Wall Street Journal reported late last month that AIG's board of directors would take up the matter of whether Hancock should be replaced following the fourth-quarter losses.
On Thursday in a company release, Hancock said that without “wholehearted” support from shareholders, he felt it best to step down because he didn’t want anything to undermine the progress that’s been made at AIG.
The company has been under intense pressure from activist investors to break itself up. One of them, billionaire Carl Icahn, called the company “too big to succeed,” playing off a phrase that emerged during the financial crisis, “too big to fail.”
U.S. financial regulators deemed at the time that the collapse of AIG could set off a catastrophic series of events that would threaten the global economy.
The company responded in early 2016, issuing a timetable for a turnaround and promising to return $25 billion to shareholders through share buybacks and dividends. That included the sale of assets, including a $3.4 billion deal for its stake in mortgage insurer United Guaranty.
Icahn and another big investor, John Paulson, were eventually awarded representation on the company board.
Icahn on Twitter Thursday tweeted: “We fully support the actions taken today by the board of AIG.”
AIG shares (AIG) were up nearly 1.1% at $64.12 in morning trading.
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