tag:blogger.com,1999:blog-4815867514277794362.post139997826619881862..comments2024-03-08T06:18:28.125+11:00Comments on Bronte Capital: Brad DeLong and the fairy tale of Wall StreetJohn Hemptonhttp://www.blogger.com/profile/03766274392122783128noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-4815867514277794362.post-9271621923528037982009-06-20T00:54:46.491+10:002009-06-20T00:54:46.491+10:00babar ganesh said...
"phillip swagel (assist...babar ganesh said... <br />"phillip swagel (assistant sec to treas under paulson) in his memoir made it sound like the decision to save AIG was made by a bunch of tired people with no clear conception of what the consequences could have been for either a bailout or a non-bailout of AIG."<br /><br />Various media accounts have claimed that a very large proportion of the money paid to AIG went to Goldman Sachs. Paulson was G-S; IIRC, a direct rep from G-S was the only non-fed/government person there when the decision was made.<br /><br />It could well be that the immediate concern was to make sure that the principal decision makers' hundreds of millions of $ in G-S were preserved.<br /><br />-BarryBarry DeCiccohttps://www.blogger.com/profile/04735814736387033844noreply@blogger.comtag:blogger.com,1999:blog-4815867514277794362.post-15225711411484243642009-06-20T00:49:21.035+10:002009-06-20T00:49:21.035+10:00Financial risks are uninsurasble, by CDS or otherw...Financial risks are uninsurasble, by CDS or otherwise. Ask any conventional insurer or reinsurer. Therefore, it should be prohibited altogether. <br />By the same token, packaging and repackaging of securities should be prohibited whenever assessment of risk becomes thereby impossible.shivzhttps://www.blogger.com/profile/05390658477918640138noreply@blogger.comtag:blogger.com,1999:blog-4815867514277794362.post-28282054005000278342009-06-18T06:27:38.877+10:002009-06-18T06:27:38.877+10:00Would there have been a liquidity problem if the m...Would there have been a liquidity problem if the market had thought banks (etc) were, in fact, solvent?<br /><br />/pecanpajAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4815867514277794362.post-47081996466840253602009-06-18T04:39:26.525+10:002009-06-18T04:39:26.525+10:00phillip swagel (assistant sec to treas under pauls...phillip swagel (assistant sec to treas under paulson) in his memoir made it sound like the decision to save AIG was made by a bunch of tired people with no clear conception of what the consequences could have been for either a bailout or a non-bailout of AIG.babar ganeshhttps://www.blogger.com/profile/01898299856773302141noreply@blogger.com