Hiptastic to Rat, Hi(gh)~jacked by fyrenza

[Fyrenza]

Eh? Libertarianism has nothing to do with
government regulation? You aren't against government intervention?

You can believe certain things that these organizations/groups do,

without wanting to associate yourself with them.

Check out my post about the John Birch Society ~

they sound pretty great,

but i’m not rushing out to join ‘em any time soon.

Want to think that one through again Ratster?Is AIG a commercial bank merged with an investment bank? Was Lehman? Was Bear?

Ummm... actually,

AIG IS a commercial bank, merged with an investment bank, under the guise of being an Insurance Company.



Financial Services:
Annuity
BANKING
INVESTMENT SERVICES
Loans and Credit
Mutual Funds
Retirement Services


OMG! So, i look up Lehman Brothers, right?

i find a link to THIS:



1Neuberger Berman is a marketing name which is used to refer to the select group of entities and product lines that will be part of a new entity to be named Neuberger Berman Group, LLC.
This entity will be created in connection with the closing of the pending acquisition by management of the majority interest in Neuberger Berman and select fixed income and alternative asset management businesses of Lehman Brothers Holdings Inc.’s Investment Management Division.

in the fine print at the site ~ note that they WILL be ^/v


Neuberger Berman1 will be an independent, employee-owned, global asset management firm, serving the financial needs of institutional and individual investors worldwide. Our broad capabilities include traditional and alternative equity and fixed income strategies, private equity and commodities, in addition to portfolio advice and wealth planning services. We offer a broad platform to accommodate the evolving needs of our clients.

Wonder if part of the “evolving needs” of their clients might be Insurance (which is considered an annuity, which in turn, is considered to be an investment),

and Banking capabilities?

Exactly.

Can’t stay awake to look at the other one ~ yawn ~

maybe tomorrow. ;)

[Hiptastic]

You can believe certain things that these organizations/groups do,

without wanting to associate yourself with them.EH?

No point in guessing what Rat meant. He didn't defend it because he couldn't, he was just trolling.AIG IS a commercial bank, merged with an investment bank, under the guise of being an Insurance Company.No, its an insurer. "Investment services" means asset management which insurers have always done. Their banking operations are small and consumer oriented and have not caused them much pain (it was profitable in 2007 while the rest was losing billions). Try to remember my point here - AIG didn't fail because regulators allowed banks, brokers and insurers to merge. They didn't merge with any big bank. They lost money doing the same sort of business they always have, just spectacurlarly badly.Wonder if part of the “evolving needs” of their clients might be Insurance (which is considered an annuity, which in turn, is considered to be an investment),

and Banking capabilities?

Exactly.

Can’t stay awake to look at the other one ~ yawn ~

maybe tomorrow.Again, Lehman did asset management. Investment banks have always done asset management (as have banks and insurers). Asset management is low risk and didn't cause anyone to fail. When Lehman was broken up, it was one profitable business that was sold - to another asset manager.

[Fyrenza]

We use USAA (United Services Automobile Association),

for ALL of our banking ~ loans, investments, checking, savings, CD's, etc. ~

as well as for all of our insurance needs ~ rental, vehicle, etc.

Anyway, that's why i was suspect of any (supposed) insurance company that handles all sorts of banking concerns, too.

Did you see that Lehman was sold

to THEMSELVES?

'A rose by any other name...'

They just renamed the company and made the employees responsible for any mis-actions, imho. (Probably got out of paying for their insurance, 401K's, SSI, workman's comp, etc., too! Gotta admit, though, from a financial standpoint ~ it was a brilliant move!)

[Fyrenza]

EH?

No, its an insurer.

"Investment services" means asset management which insurers have always done.This is from USAA's website:
Consider the investment objectives, risks, charges and expenses of the USAA mutual funds carefully before investing. Contact us at 1-800-531-8910 for a prospectus containing this and other information about the funds from USAA Investment Management Company, Distributor. Read it carefully before investing.That's an insurance company that turned into a huge "Investment Services" concern, and i'd be willing to bet that AIG did, too...

Retirement Planning crossed the line, over into a type of insurance, in which investments were crutial in order to keep portfolios growing.

And what better investment than your very own bank, where YOU make all the interest?
Their banking operations are small and consumer oriented and have not caused them much pain (it was profitable in 2007 while the rest was losing billions).

Try to remember my point here - AIG didn't fail because regulators allowed banks, brokers and insurers to merge. They didn't merge with any big bank.Does it matter if they ACTUALLY "merged" with these other types of companies?

{Hey! And, truly ~ pardon me if i'm being ignorant, here, okay? ;) }

It would appear that they didn't need to "merge" with anyone, the result was still the same ~

right? :confused:
They lost money doing the same sort of business they always have, just spectacurlarly badly.Did they start out with Investment Services, Banking Services and Insurance Services?

(i know ~ totally different company, but...) USAA didn't. They started out just with Auto Insurance for the military. Then they expanded to include the relatives of folks that had served/were serving in the military,

and after that, they just GREW!

http://i235.photobucket.com/albums/ee57/Fyrenza/avatars/467BlackSheep.jpg

[Hiptastic]

That's an insurance company that turned into a huge "Investment Services" concern, and i'd be willing to bet that AIG did, too...All insurance companies invest. That's what they do with the premiums you pay them - they get invested.Retirement Planning crossed the line, over into a type of insurance, in which investments were crutial in order to keep portfolios growing.No all insurance products involve investing. Iny any case, investments on behalf of customers is no risk to the insurer - if your mutual fund goes down 50%, its you losing the money, not the mutual fund management company. They just collect fees and risk nothing.And what better investment than your very own bank, where YOU make all the interest?Eh?Does it matter if they ACTUALLY "merged" with these other types of companies?

{Hey! And, truly ~ pardon me if i'm being ignorant, here, okay? ;) }

It would appear that they didn't need to "merge" with anyone, the result was still the same ~

right?It is a question of scale. If AIG starts offering banking products, but it represents 1% of their balance sheet, or is just fee based and involved no risk, then it isn't worth discussing.

So its not technically necessary to merge, but in practice banks have been bad and building insurance businesses and insurers have been bad at building banking businesses. Even after many years the new businesses tend to be very small. So mergers are the only way you really change the profile.Anyway, that's why i was suspect of any (supposed) insurance company that handles all sorts of banking concerns, too.So would I, but just because I don't think you'd get the best deal. I'd rather go to a fishmonger than go to the fish counter at a supermarket.Did you see that Lehman was sold

to THEMSELVES?

'A rose by any other name...'

They just renamed the company and made the employees responsible for any mis-actions, imho. (Probably got out of paying for their insurance, 401K's, SSI, workman's comp, etc., too! Gotta admit, though, from a financial standpoint ~ it was a brilliant move!) I think you are confused here - who is "they"? Shareholders, employees, creditors, who? Lehman has all three and they are not the same people.

[Fyrenza]

Hip? i have totally lost the bubble, here...

It's one of those "What was the question, again?" moments,

and i'm sorry about that.

Forgive, please? ;)


http://i235.photobucket.com/albums/ee57/Fyrenza/avatars/467BlackSheep.jpg

[Hiptastic]

Cute pig.

[Fyrenza]

Cute pig.

i particularly like it's freckled be-heiney! :rofl:


http://i235.photobucket.com/albums/ee57/Fyrenza/avatars/467BlackSheep.jpg