ING Having Problems

[Bentleyfinancial]

I just had a client call me saying that they saw that ING was in financial crisis. Now, I am primarily a Health Insurance broker, but I write about 50% of my life cases with ING. Is this true? I can see that ING posted it first ever loss on 1.9 billion in charges back in November, but I was wondering if anybody new something more of this? Thank you

 

[karenabcde]

I don't know if ING is in trouble or not. They are "big enough" to be in trouble....I mean they are in the big leagues and it seems that the biggest companies that do the swaps are the ones in trouble......I have no evidence one way or the other......I just think they are in the position to be in trouble...................................are any commissions coming late?

 

[Bentleyfinancial]

Ya see, there is no way that ING is having issues....In my eyes, they are one of the only ones who have weathered the storm. Out of two million foreclosures in the Nation, they are responsible for under 100.............under 100 of 2,000,000.00 ....also, ING direct is the largest online bank.. I don't know, I think that my client is on crack.. I was just curious to see if anyone had any similar occurance...

 

[HomeService]

"The Dutch government said on Sunday that it would inject 10 billion euros, or about $13.4 billion, into ING after the company became the latest victim of the global financial crisis."

One Day After a Bailout, ING Sells Taiwanese Unit - NYTimes.com

 

[Charpress]

It really sucks that you can't look a client in the face any more and say something like "No matter what else, you don't have to worry about whether your money is safe with the big insurance companies."

I had to vary this recently with an exception for AIG but with the proviso "The big global companies are safe."

What variation can we use now if everything top to bottom is getting a bit shaky?

How does one get licensed to sell gold, I wonder?

 

[somarco]

This guy probably can tell you . . .

 

[Charpress]

I think he was licensed to steal gold. That's always an option, I guess.

 

[karenabcde]

I am fairly sure there is no license needed to sell gold. Call Goldline.com They are always hiring.

 

[mkortz]

It really sucks that you can't look a client in the face any more and say something like "No matter what else, you don't have to worry about whether your money is safe with the big insurance companies."

I had to vary this recently with an exception for AIG but with the proviso "The big global companies are safe."

What variation can we use now if everything top to bottom is getting a bit shaky?

How does one get licensed to sell gold, I wonder?

Amen brother.
It seems like the best thing you can say, is that they are as safe as far as insurance companies go, but anything is possible today.

You're probably joking about gold, but if you're not, you can sell gold ETFs with a securities license. Symbol IAU

 

[Drewrilla]

The ING in "trouble" they are referring to is one of the sister companies. The ING Insurance company is fine. They were recently re-affirmed for their ratings, which are still incredibly strong. Sure their stock is down 75%, but that is virtually the average all insurance companies are down currently. AXA is down 44%, Met 50%, Sun Life 64%, Prudential 70%, etc. etc. etc.

They are the #7 Fortune Company - I think they will be just fine. They are the only one in the top 10 staring up at Walmart.

Message me if you would some financial data pieces addressing the turmoil and showing that your clients have nothing to worry about.