USA's AIG's AIA, part III...

... the end!

The deal is history! Pru's shareholders "went on strike"!

Now, as before, AIG could take AIA public; funny enough this would only make $12bn to $15bn the experts say - hopefully, that is.

So... what did I not get here: why did honorable Tidjane Thiam, Pru's boss, want to pay far more than twice as much? A payment of honor... to whom? How much?

See part I and part II, or the Telegraph and the Independent.

Carpe diem.

USA's AIG's AIA, part II

telegraph: Pru braced for share-price volatility

Mr McGrath [Prudential's chairman] said that the huge growth potential in the Asian insurance market meant that Prudential had offered the right amount for such a valuable asset

"The market has a lot of cash that needs to be put to work," he said. "This is not a bail out. We're not raising capital because we have a problem. What we are doing is affording investors an opportunity to participate in a growth story over the medium term.

"Yes, it is bold and it is large but it has been very carefully considered. We know this business very well in Asia."

Pru's shareholders obviously are not happy with the planned acquisition of the "valuable asset" AIA; the worries might not be answered with above lines but they might be related to the question why troubled AIG is cashing in a mere $35bn for something that has a "huge growth potential" in the first place.

Carpe diem!

USA's AIG's AIA...

and now Prudential's prudence?

Titian's Allegory of Time Governed by Prudence c.1565

prudential (comparative more prudential, superlative most prudential)

Positive prudential

Comparative more prudential

Superlative most prudential

1. Of, pertaining to, or arising from the use of prudence

prudence

Plural uncountable

prudence (uncountable)

1. The quality or state of being prudent; wisdom in the way of caution and provision; discretion; carefulness; hence, also, economy; frugality.
   • 1876, Samuel Austin Allibone, Prose Quotations from Socrates to Macaulay, J.B. Lippincott, page 597,

     Prudence is principally in reference to actions to be done, and due means, order, seasons, and method of doing or not doing. - Sir Matthew Hale.

     Prudence supposes the value of the end to be assumed, and refers only to the adaptation of the means. It is the relation of right means for given ends. - William Whewell.

[edit] Synonyms

• wisdom; forecast; providence; considerateness; judiciousness; discretion; caution; circumspection; judgment
• See also Wikisaurus:caution

Telegraph: Prudential shares plummet on deal for AIG's Asian arm

Latest on second thought it makes one wonder why the U.S. as 80% shareholder of AIG is selling AIG's so called "sound Asian arm" at all? Must be the only sound part of the body!?

AIG has lost more than $115bn since September 2007; the US taxpayer, who ever that is, has pumped more than $180bn into AIG; very likely this is not the end of throwing fresh and wet money into what is an insurance company and the most important instrument to keep the global banksters' Ponzi scheme afloat.

Why sell that sound part?
Does Prudential know what they are doing?
Are they part of the scheme?

Carpe diem!