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Keyword: financialcompanies

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  • Gaffney: "We cannot tolerate and must not permit Uncle Sam's morphing into Uncle Shariah"

    12/17/2008 4:40:04 AM PST · by Sammy67 · 10 replies · 1,263+ views
    WashingtonTimes ^ | 12/17/08 | JihadWatch
    In "Uncle Shariah" in the Washington Times, December 16, Frank Gaffney details why AIG's nationalization is so worrisome: The insurance giant AIG has lately become the poster child for corporate risk-taking, mismanagement and greed. Its unimaginably large losses, rooted in insurance it extended to financial companies engaged in subprime mortgage-backed transactions, have destroyed both AIG's corporate reputation and balance sheet. Indeed, but for the fact that Treasury Secretary Henry Paulson - who during his days running Goldman Sachs had extensive ties to AIG - deemed the insurance firm "too large to fail," the company would surely have gone under by...