Page 166 - Aig News Today

Policy against a bond default, that makes no sense to me. >> senator dorgan, im confused. if you look at the abacus deal at goldman sachs, they created a synthetic bet on whether a bunch of bonds were going to collapse or not. and then, they bought a few billion dollars worth of naked credit default swaps as to whether that would actually happen. and then honestly, because as we know, wall street is all about making the dollars, my man, its not about investing or lending, its about getting the m...

Fighting for example for $185 billion bailout of aig. guess what, chris? it turns out that goldman sachs got $13 billion repaid from aig to goldman sachs. 100 cents on the dollar. now to my mind, that looks like a conflict of interest. that is what the gao will take a look at. you have situations where stephen friedman, a member of the board of goldman sachs happened to be the head of the new york fed. in that capacity he pushed for goldman sachs to become a bank holding company gaining access t...

Like greece. now people are betting on whether it is going to default or not. >> price of credit default goes up as what they insure goes down in value. theyre insurance in case of a default. because greece moves ever closer to default, credit default swaps are moving up in price. but the problem is can i just interject? the problem is if greece does default, the cdss have to be paid off. somebody, the person who issued the credit default swap will have to pay a lot of money, which is what happe...

Fighting for example for $185 billion bailout of aig. guess what, chris, it turns out that goldman sachs got $13 billion repaid from aig to goldman sachs. 100 cents on the dollar. now to my mind, that looks like a conflict of interest. that is what the gao will take a look at. you have situations where stephen friedman, a member of the board of goldman sachs happened to be the head of the new york fed. in that capacity he pushed for goldman sachs to become a bank holding company gaining access t...

Like greece. now people are betting on whether it is going to default or not. >> price of credit default goes up as what they insure goes down in value. theyre insurance in case of a default. because greece moves ever closer to default, credit default swaps are moving up in price. but the problem is can i just interject? the problem is if greece does default, the cdss have to be paid off. somebody, the person who issued the credit default swap will have to pay a lot of money, which is what happe...

It is scary the notion of letting a country default on its bonds. maybe that would be better to do now and work out a repayment scheme with creditors than to bail them out and just have to bail out portugal and spain and others down the road. one compared this to not aig but to bear stearns. it went under and bailed out, feds saved it. we stopped and made the creditors hole and not going to panic and six months later there was lay man brother lehmd everything else. we may have the equivalent of ...

November. the expect aig is that a brief will be filed sometime within the next few weeks. i think no matter however that brief comes out, i suspect there will be some controversy that attaches toyota. whats unclear to me at least is whether or not shes going to resign immediately from being the solicitor general to try to minimize that or whether shell continue in that role at least until the time of the hearings. >> one, thurgood marshall in the solicitor generals office before he was picked b...

Bill clinton or larry summers liberalized the game. william isaac is the author of "senseless panic" and former chairman of the fdic white house from sarasota, florida. whats the essential point, if you will, of your book? >> well, the essential point is captured by the title. we had a financial panic in 2008 that really shouldnt have happened and didnt need to happen. it was brought about by failed government policies over the last two decades and a miserable job of handling the failures and ne...

It is scary the notion of letting a country default on its bonds. maybe that would be better to do now and work out a repayment scheme with creditors than to bail them out and just have to bail out portugal and spain and others down the road. one compared this to not aig but to bear stearns. it went under and bailed out, feds saved it. we stopped and made the creditors hole and not going to panic and six months later there was lay man brother lehmd everything else. we may have the equivalent of ...

It is scary the notion of letting a country default on its bonds. maybe that would be better to do now and work out a repayment scheme with creditors than to bail them out and just have to bail out portugal and spain and others down the road. one compared this to not aig but to bear stearns. it went under and bailed out, feds saved it. we stopped and made the creditors hole and not going to panic and six months later there was lay man brother lehmd everything else. we may have the equivalent of ...