The Wall Street Journal reports that two AIG employees in Paris have resigned, which is causing AIG to find replacements to avoid defaulting on $234 billion of derivatives contracts.
An AIG default on these contracts will force its counterparties, other banks, to raise capital - further exacerbating the financial crisis.
Who doubts that these two employees, who worked in a profitable division of AIG, left out of dismay and fear? How easy do you think it will be to find replacements given the threats that have been made against AIG employees?
These are just some of the consequences of the political, media, and activist assault on AIG.
Barack Obama sure has changed the political culture of the country.
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it is bullying and witch hunting. sickening.
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