AIG’s $150 billion “capital relief” bombshell – CDSs Written to European Institutions to get around capital requirements

February 28th, 2010 by stacyherbert

Stacy Summary: Looks like a whole lot more financial chaos to come to Europe very soon.

Tags:   · · 71 Comments

71 responses so far ↓

  • ronron
    Feb 28, 2010 at 11:02 pm

    @Youri. yep all the way. ;-)

  • frances snoot
    Feb 28, 2010 at 11:02 pm

    So banks own banks, Harry? I thought people owned banks, and banks serviced people. You complain about me conjuring an entity called a ‘cabal’, and yet you serve agency on banking institutions. Max calls the ‘enemy’ Goldman Sachs, and you do not batt an eyelash. Yet you are aghast at my reference to the cabal of the central banking system.

    If you’re right then we have nothing to worry about, so why should I need to answer? All is in the good hands of the G20 governing system, right? Who cares what I think.

    I think Max was asking a rhetorical question. My opinions most likely do not concern him.

  • ronron
    Feb 28, 2010 at 11:05 pm

    @Youri. it really worry’s me that snoot doesn’t see what’s coming. i think she’s pissed at me. i do stick my nose in.

  • frances snoot
    Feb 28, 2010 at 11:10 pm

    Who’s on first base?

    What?

    What is on second. I said who!

    You said WHAT?!

    I said who is on first?

    We were talking about bank ownership.

    That’s not what I asked.

    Who cares what you think. You’re worried about the Bretton Woods institutions. Might as well throw rocks at the sun.

    Let’s throw rocks at first base. Who’s there.

    Is who there? I thought his name was What!!!

    Nonsence, let’s get some truth around here!

    Well, don’t ask HER. She references epistemology nuance.

    That’s what I said, who. Enjoy the game.

  • ronron
    Feb 28, 2010 at 11:10 pm

    @Yusguys. thanks for the @@@’s. watch poland closely.

  • ronron
    Feb 28, 2010 at 11:16 pm

    @Snoot. knew i could rise ya hun. ever since you turned pro you’ve been aloof. :-(

  • frances snoot
    Feb 28, 2010 at 11:23 pm

    http://www.voxeu.org/index.php?q=node/3387

    Reforming global governance: How to make the IMF more independent
    Daniel Gros Ulrich Klüh Beatrice Weder di Mauro
    1 April 2009

    “Differeniate voting procedures for lending and analytic functions

    The decision rule of the Fund should thus distinguish between financial measures (granting balance of payments assistance) and the analytical function of the IMF, especially macro surveillance and potentially as the main organisation to look after sources of risk in the global financial system.

    This needs to change in order to give the IMF the independence it needs to become a credible impartial judge of balance of payments disequilibria and sources of risk to global financial markets. The IMF staff needs to be independent in these functions which should no longer be micro-managed by the Executive Board.
    The required independence of the IMF staff can be achieved simply by stipulating that the Board of the IMF only oversees the work of the IMF on its analytical functions and, even more importantly that its decision making mode (and composition) is different in its oversight of these areas. This could be achieved with two simply decisions:
    The Executive Board should be enlarged by a number (possibly 3) of independent directors (as in the private sector) and the voting principle should be one man one vote. The independents board members would constitute only a small minority But their presence and professional expertise would give them a disproportionate weight and they would have a disciplining effect since they are to represent the general interest and would be free to go public with their views.
    Management would also be free to take positions on all issues not involving the use of fund resources unless it is explicitly overruled by the expanded board. This would give management de facto considerable independent since under the one man one vote principle the larger member countries could no longer block issues just because they are inconvenient from a domestic political point of view.”

  • frances snoot
    Feb 28, 2010 at 11:24 pm

    I’m sorry, ronron. I did not mean to be a snoot.

    :)

  • frances snoot
    Feb 28, 2010 at 11:26 pm

    @namarama:
    Yes. And Ronald McDonald owns McDonalds.

  • ronron
    Feb 28, 2010 at 11:27 pm

    @Snoot. did you know stomping tom refuses to play in the USA. thanks snoot your a fine woman. :-)

  • ronron
    Feb 28, 2010 at 11:34 pm

    @Snoot. theer are 4 sets of oligarchs. ;-)

  • ronron
    Feb 28, 2010 at 11:37 pm

    fuckin funny. hahaha. tat fker SG have fun wit tis. ;-)

  • ronron
    Feb 28, 2010 at 11:41 pm

    holy fuck. people are buying gold like crazy at a set price. @Mike the pound is crashing. wake up.

  • ronron
    Feb 28, 2010 at 11:46 pm

    @WL. hahaha. we beat them again. :-)

  • ronron
    Feb 28, 2010 at 11:59 pm

    there trying to close silver contracts. hahaha.

  • ronron
    Mar 1, 2010 at 12:03 am

    hahaha. were in for a show here. ;-)

  • Marc Authier
    Mar 1, 2010 at 12:15 am

    CITIGROUP official document laughing at the crisis.

    http://www.ibtimes.com/articles/20090907/citigroup-2006-americamodern-day-plutonomy.htm

    Riding the gravy train, CITIGROUP boasting that the crisis is good for them.

  • Marc Authier
    Mar 1, 2010 at 12:18 am

    The economy is dead. Welcome to the new science courtesy of the cynical nazis bastards CITIGROUP. They now call it USA the first PLUTONOMY.

    http://www.ibtimes.com/articles/20090907/citigroup-2006-americamodern-day-plutonomy.htm

    A government and a country by the ultra rich and ONLY for the ultra rich. The model already exist in third world countries. That’s what theses bastards from CITIGROUP should mention. LIke I said these bastards are dreaming of China.

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