25 March 2009

AIG F#@$ed Up Yet Another Perfectly Good Business

This time, it's International Lease Finance Corp. (IFLC), the largest aircraft leasing operation in the world, which was fabulously profitable when they bought it from Stephen Udvar-Hazy in 1990, and it looks like they are angling for a government bailout, at that's the subtext that I read into the article.

Isn't the idea of successes in their own financial niche moving into areas in which they have no clue such a wonderful idea?

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