i do agree that Sullivan should be investigated about that CC back in like jan when he said even though the auditors are making aig take writedowns, they have minimal exporuse to subprime
I think they should arrest the people sold all those cds at AIG. They are crazy, they took the premiums that they received and invested them into subprime/mortgage related securities. I sometimes wonder if this is Spitzers fault, supposedly Greenberg was careful with risk, and his successors were inbred idiots.
I'll help you out, you seem confused. AIG created their own problems by gambling on toxic instruments, rolling the dice. CC, the worst you can say is mismanagement, a different animal. AIG puts the entire system at risk. CC does not
so if you take "toxic instruments" your a criminal? i think went many (not all) of these "toxic" instruments where bought or created they where not considered toxic. i bet some of these same assets had very high credit ratings when they where made. yes we could of hedged some of them, but still don't understand how that makes them a criminal? actually seems like a "mismanagement" issue. marty had no idea what he was doing as ceo, being stupid does not make him a automatic criminal. i don't disagree there where criminal acts at aig most likely , but i have yet to see any evidence of such
It's more of a greed issue. The guys in charge of the cds operation made as many deals as possible. Supposedly they have 500 billion worth of cds. The whole world sold there shit to them, I believe they never saw a cds that they didnt like. Those guys who were in charge of the operation, got big bonuses.
yes i am confusted. Bear Sterns "created their own problems by gambling on toxic instruments" Lehman "created their own problems by gambling on toxic instruments" Long Term Capital Management "created their own problems by gambling on toxic instruments" Merrill "created their own problems by gambling on toxic instruments" Wachovia "created their own problems by gambling on toxic instruments" Washington Muntial "created their own problems by gambling on toxic instruments" Countrywide created their own problems by gambling on toxic instruments So yes please help me out i am so confused because your point "AIG created their own problems by gambling on toxic instruments, rolling the dice." why are the 7 firms i just named NOT criminal yet AIG is?