Estero Island, Leehman Brothers and AIG
By LLoyd Nichols, Southwest Florida Homes By The Sea
(Premier Florida Realty)
cell: 239-810-2980 Fax: 239-463-4826 home office: 239-463-5217 Estero Island or Fort Myers Beach is far away from the crumbling walls of Wall Street. It does have a Wachovia Bank. But will the island, like any town in the USA be affected by the fall of Lehman Brothers, the 158 year old institution and 4th largest lender in the USA? By the enormous 70 plus billion dollar debt AIG, the largest insurer in the US is facing? I saw the town meeting yesterday on our local TV and the budget seems to be about the same as last year.In fact, our balance sheet is better then last year.But if AIG falls how many islanders and Floridians will be affected? A huge amount.For starters many use AIG for their car insurance. No problem we will switch to another insurer. The island survives regardless.I can ...
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