Tuesday, September 16, 2008

Greenberg: AIG Will Fail Without Bridge Loan, Rating Forebearance

This man has a lot of his net worth* as the stock went from $70 to $2.75.
DealBreaker has the video and a more colorful headline.

Greenberg: If AIG Doesn't Get A Bridge Loan From The Private Sector Or The Fed,
And If The Ratings Agencies Don't BACK THE SHIT OFF, This Will Fail

*I make it $940,000,000
From Yahoo Finance:

Shares: 12,891,977
Date: 22-May-08

UPDATE: We have another post (above) that links to the New York Times DealBook blog which quotes much larger numbers:
...It’s also worth remembering that Mr. Greenberg is also a major stakeholder in A.I.G. He has seen the value of his holdings plummet as A.I.G. shares have sunk. He holds about 39 million A.I.G. shares directly and an additional 243 million through his private equity firm, Starr International. The shares were worth about $15.8 billion at the beginning of this year, but just $1.3 billion as of Monday.