“Thank you, I will be here all night”
The Vice Chairman of the insurance giant American Insurance Group, Mr. Jacob Frenkel, entertains us with this quote about their crisis:
“The left side of the balance sheet has nothing right and the right side of the balance sheet has nothing left. But they are equal to each other. So accounting-wise we are fine.”
AIG already got $85 billion from the Fed, and the total sum might even go up to $120 billion. With that amount of money, I might consider becoming a stand-up comedian as well!
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