Litigation

An AP report says that Hong Kong police have arrested and detained 11 agents and managers of MassMutual Asia Ltd on September 26, 2008 in connection with a forged letter that claimed insurance holding company American International Group, Inc. (AIG) was selling its Asian subsidiary.

This author opines that authorities need to get tough on opportunists in the United States who exhibit similar questionnable ethics.

The other day I discussed Woodbridge Investments "approach" to the AIG situation and opined on the ethics of it. A refresher on Woodbridge comments in a press release...

'We have been doing brisk business in efforts to help secure financial assets backed by AIG Insurance"  Woodbridge Investments- Scott Schwartz September 19, 2008

'Major banking institutions and insurance companies like Indymac, Lehman, WAMU, and AIG are reeling to recover from losses, and without a defined way out of turmoil"  Woodbridge Investments Scott Schwartz September 19, 2008

"Our customers are dealing with an inherent fear, and anxiety that naturally comes when you are expecting to receive payments for the next twenty or thirty years from companies like AIG that are linked with unprecedented real and rumored cases of bankruptcy". Woodbridge Investments Scott Schwartz