Recent Crisis in AIG & AIA Singapore

I believe that many of frens will faint when they see my blog cause I haven got the time to update it recently. Decided to post the titles first so that I can write this post. I have been reading & hearing alot about the recent crisis in AIG & AIA. Many policyholders in Singapore rushed down to AIG & AIA Singapore office to surrender their policies upon hearing that AIG New York is faced with short-termed liquidity pressures. Even announcements from US Federal Reserve agreeing to grant a loan to AIG & MAS ensuring that AIG & AIA Singapore will have sufficient reserves to meet all liabilities to its policyholders did not stop the crowd from waiting outside the centres jus to get their money back. Some even waited as long as 12 hours. This piece of news shocked the whole world as AIG was once the world's top insurer by market value. Many of the policyholders claimed that they do feel insecure despite the assurance & would prefer to withdraw their policies & keep the money with the Bank. I was wondering how can they be sure that their money is safe with the Bank? If a huge Insurance Company like AIG can face liquidity problems, what makes them think the Banks in Singapore won't face such a problem? In fact, the financial institutions in Singapore are quite safe cause we have a very good central Bank like Monetary Authority of Singapore (MAS). MAS will ensure that all these institutions have sufficient reserves & assets before they will grant them license to operate a Bank or Insurance company here. It will be a huge impact on our economy if such things do happen. I do not maintain any policies with AIA but even I do, I will not surrender it now. Why bother wasting time to queue up at the Centres? I can understand those who are illiterate that they jus wanna take their money back but I am surprised that there are even some young people who did the same thing. I am sure if you do read the news, you would know that it is still quite safe at this moment. You are jus creating more problems if you join the crowd there. I heard that the poor staff of AIA had to work till 12am jus to deal with enquiries & withdrawal requests from these policyholders. It seems like the situation in Singapore is worse than other offices in Hong Kong, Malaysia & Taiwan. I was wondering if the Singaporeans had a bit of empathy for the poor staff who were trying to help them. I even heard that policyholders screamed & shouted at the staff after getting frustrated over the long wait. If you as a policyholder felt insecure, then the staff of AIA should feel even worse. They had to work so hard for AIA to survive through this crisis but they may not know if their job is still secured should AIG & AIA be liquidated to another Company. Please dun be such an ignorant idiot to waste time & join the crowd @ AIA to withdraw their policies. I happen to have such idiotic colleagues in the office. They have talking & discussing it for the past few days until I feel like scolding them. If you seriously feel so insecure, maybe you should take all your money out & keep them in biscuit tins at home. Its definitely secured cause you can see & count them all the time. Be patient if you must go down to withdraw your policies cause the staff are definitely trying their best to help. Please how more empathy.