AIG Counterparties - GoFuckYourself.com

kenny · 03-03-2009, 07:14 AM

This guy ask a good question.

I wondered this too and can 't find the answer.

"It is a simple enough question: who bought the credit default swaps that American International Group sold during the housing bubble? And at this point ? after Bailout No. 4, with the government handing A.I.G. another $30 billion to go with the previous $150 billion ? you would think that the taxpayers would have the right to know that information. Is it Goldman? Royal Bank of Scotland? The Irish banks that are on the verge of collapse? What happened to all that transparency the new administration keeps talking about?"

http://executivesuite.blogs.nytimes....e-aig-bailout/

Wizzo · 03-03-2009, 07:24 AM

Damn near every hedge fund and institutional investor out there... Credit Default Swaps in my mind is the greatest racket ever.

kenny · 03-03-2009, 07:49 AM

Quote:

Originally Posted by Wizzo

Damn near every hedge fund and institutional investor out there... Credit Default Swaps in my mind is the greatest racket ever.

I just don't understand why we're on the hook to pay these compaines a bunch of money that they never had it the first place.

They paid some insurance premiums in the form of CDS and now the tax payers are paying out insurance face value.

Makes no sense can't believe they are actually pulling this one over on us.

GetSCORECash · 03-03-2009, 08:15 AM

My payment to AIG is due in May, wonder if it's worth even doing.

Biggy · 03-03-2009, 10:11 AM

I bet Goldman has some exposure, my personal thoughts are they may have a lot. A friend of mine worked as a trader at GS from 2005-2007 or so, right out of college - it was a dream job. He traded Credit-Default Swaps and they were acting as a market maker. He told me at the time it was the most profitable part of the bank, of all of GS in the boom times. It was a dream job because it was at the best bank, in the most profitable part of the best bank. The people there got P.A.I.D.

When all this shit hit, GS had surprisingly low exposure to all this BS (subprime, housing, etc), yet was raking in all the profit in the boom times and was considered the best bank. It doesn't add up and wouldn't surprise me at all if they were holding a ton of CDSes and receiving a portion of that bailout money. It also would go along with why they would want it hidden, because the last thing they would want is more risk/uncertainty around major financial institutions.

That article is good because theyre right, something doesnt add up. In my opinion, if TARP banks are involved, they should be named. For private parties, I agree, not right to disclose them, but fuck it, if theyre already getting gov't money on a different front, it should be duly noted they are also on the receiving end of this :2cents.

tranza · 03-03-2009, 10:47 AM

AIG -$62bi = guiness

pornguy · 03-03-2009, 10:55 AM

Quote:

Originally Posted by Wizzo

Damn near every hedge fund and institutional investor out there... Credit Default Swaps in my mind is the greatest racket ever.

The entire bail out is a scam.

UFGators2007 · 03-03-2009, 11:10 AM

The whole point of it is to confuse the American public long enough for the scammers to get away with all their money and put some in Washington's pocket before they leave the country.

03-03-2009, 07:14 AM	#1
kenny Confirmed User Industry Role: Join Date: Mar 2002 Posts: 7,245	AIG Counterparties This guy ask a good question. I wondered this too and can 't find the answer. "It is a simple enough question: who bought the credit default swaps that American International Group sold during the housing bubble? And at this point ? after Bailout No. 4, with the government handing A.I.G. another $30 billion to go with the previous $150 billion ? you would think that the taxpayers would have the right to know that information. Is it Goldman? Royal Bank of Scotland? The Irish banks that are on the verge of collapse? What happened to all that transparency the new administration keeps talking about?" http://executivesuite.blogs.nytimes....e-aig-bailout/ __________________ 7

03-03-2009, 07:24 AM	#2
Wizzo 2011 GFY Hall of Fame! Industry Role: Join Date: Nov 2000 Location: Back in Texas! Posts: 15,224	Damn near every hedge fund and institutional investor out there... Credit Default Swaps in my mind is the greatest racket ever. __________________ Looking for Opportunity!

03-03-2009, 08:15 AM	#4
GetSCORECash Confirmed User Industry Role: Join Date: Mar 2008 Location: Miami Posts: 5,527	My payment to AIG is due in May, wonder if it's worth even doing. __________________ \| skype: getscorecash \| ICQ: 59-271-063 \| New Sites: \| SCORELAND2 \| Roku Channel SCORETV.TV \| 60PLUSMILFS \| \| Big Tit Hooker \| Tits And Tugs \| Big Boobs POV \| Karla James \| \| Naughty Foot Jobs \| Linsey's World \| Busty Arianna Sinn \| Get SCORE Cash \|

03-03-2009, 10:11 AM	#5
Biggy Confirmed User Join Date: Jul 2001 Posts: 1,595	I bet Goldman has some exposure, my personal thoughts are they may have a lot. A friend of mine worked as a trader at GS from 2005-2007 or so, right out of college - it was a dream job. He traded Credit-Default Swaps and they were acting as a market maker. He told me at the time it was the most profitable part of the bank, of all of GS in the boom times. It was a dream job because it was at the best bank, in the most profitable part of the best bank. The people there got P.A.I.D. When all this shit hit, GS had surprisingly low exposure to all this BS (subprime, housing, etc), yet was raking in all the profit in the boom times and was considered the best bank. It doesn't add up and wouldn't surprise me at all if they were holding a ton of CDSes and receiving a portion of that bailout money. It also would go along with why they would want it hidden, because the last thing they would want is more risk/uncertainty around major financial institutions. That article is good because theyre right, something doesnt add up. In my opinion, if TARP banks are involved, they should be named. For private parties, I agree, not right to disclose them, but fuck it, if theyre already getting gov't money on a different front, it should be duly noted they are also on the receiving end of this :2cents. Last edited by Biggy; 03-03-2009 at 10:12 AM..

03-03-2009, 10:47 AM	#6
tranza ICQ: 197-556-237 Join Date: Jun 2003 Location: BRASIL !!! Posts: 57,559	AIG -$62bi = guiness __________________ I'm just a newbie.

03-03-2009, 11:10 AM	#8
UFGators2007 Confirmed User Join Date: Nov 2007 Location: Florida Posts: 1,739	The whole point of it is to confuse the American public long enough for the scammers to get away with all their money and put some in Washington's pocket before they leave the country. __________________ "I use the Google to pull up maps."