My doctor says to me "hey, I've got a stock tip for you...buy AIG today!"
This was on the 11th when it was at .35.
My response to him was "Doc, you're great and all BUT I'm not feeling so great about throwing money at a bunch of crooks". I furthered that I would anticipate Senate Hearings & a whole bunch of hoopla going their way & that I wouldn't be surprised to see grand jury hearings down the road.
And then, in true Sirius Long fashion informed him that the real tip was to buy SiriusXM stock.
His response : did they go bankrupt?!?
It was another 20 minutes before we got to the reason I had gone in...
To shorten the story, I'm kinda kicking my moral ass for not jumping in @ $.35 - if only to have sold it a few days ago.
And now, of course, Geithner & Dodd & Obama! are on the proverbial spit & getting hammered about this that and everything else AIG.
Geithner is now calling for more power to let non-banking industries fail.
All this, to ask a single question...
Am I completely out of my mind to be looking at buying into AIG?