Posted on 11/18/2008 12:45:26 PM PST by BGHater
Dutch insurer Aegon said it may buy a small U.S. thrift company to qualify for potentially more than $1 billion in U.S. government support, sending its shares down more than 8 percent.
"This is part of our strategy to ensure Aegon has the strongest capital position possible," said Aegon spokesman Greg Tucker. "If Aegon is eligible, we would seek the minimum range of funding possible."
The range was 1 to 3 percent of its $125 billion in U.S. assets, he said, and the application was for the so-called Troubled Asset Relief Program (TARP) which the U.S. government has used to help banks hit by the credit crisis.
Aegon only filed an application for U.S. capital support to keep all its options open and there is no need to raise additional capital at the moment, Tucker told CNBC.
Shares in Aegon, which received 3 billion euros ($3.8 billion) in capital support from the Dutch government last month, fell as much as 8.5 percent and were down 6.6 percent at 3.23 euros. The DJ European insurance index was down 2 percent.
"I think Aegon has bigger problems than we realise. They have invested precisely there where the problems are: the United States," said asset manager Fred Huibers of Dutch Haags Effectenkantoor, which does not own Aegon shares.
(Excerpt) Read more at cnbc.com ...
Joy.
I'm at a loss for [civilized] words at this point.
The finance industry is the dominant industry on the planet and capable of using any loophole.
And the reason why I rail so much about Bush’s Business Socialism/Liberal Globalism.....nothing but “treason subsidized by the American taxpayer”.
Incredible !
This is satire, right?
“
Dutch Insurer May Buy Thrift to Get US Bailout Funds
“
Hot investment tip (in a sarcastic sense):
Buy oil companies and paper companies.
Because when Paulson and Co. are finished “rescuing us”, we’re gonna
be running those money-printing presses 24/7/365 for a century.
|
No. Insanity.
http://www.reuters.com/article/ousiv/idUSN2148303920080921
September 21
Paulson: Foreign banks can use U.S. rescue plan
WASHINGTON (Reuters) - Treasury Secretary Henry Paulson said Sunday that foreign banks will be able to unload bad financial assets under a $700 billion U.S. proposal aimed at restoring order during a devastating financial crisis.
“Yes, and they should. Because ... if a financial institution has business operations in the United States, hires people in the United States, if they are clogged with illiquid assets, they have the same impact on the American people as any other institution,” Paulson said on ABC television’s “This Week with George Stephanopolous.”
He better be careful. ALL Thrifts are not created equal and all Thrifts will not get bailout funds. You’ve got to have GS connections and know Hank Paulson.
Aegon already is the parent company to many others worldwide. They own the Transamerica Insurance companies here in the U.S., for example!!!!!!! Many Americans have investments with them such as life insurance and annuities.
Aegon already got a bail-out from its own Dutch government not long ago.
This bail-out nightmare is worldwide, not just in U.S.
Quite simply, they’re looters, the whole lot of them, and should be dealt with as such.
Funny how only financial institutions “have an impact on the American people” in Paulson’s mind, and not the American car manufacturers.
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