Congressional Committee on Financial Services: AIG Paid Full Amount to Foreign CDS Counterparties, But Demanded 70% Haircut of U.S. Counterparties → Washingtons Blog
Congressional Committee on Financial Services: AIG Paid Full Amount to Foreign CDS Counterparties, But Demanded 70% Haircut of U.S. Counterparties - Washingtons Blog

Wednesday, April 1, 2009

Congressional Committee on Financial Services: AIG Paid Full Amount to Foreign CDS Counterparties, But Demanded 70% Haircut of U.S. Counterparties

In a stunning development, Representatives Frank and Bachus are alleging that AIG might have paid the full amount of credit default swap contracts to foreign counterparties, but demanded that U.S. counterparties take a haircut of up to 70%:
AIG Payments


I'm glad that haircuts were given. But if only American companies are taking haircuts - and not foreign companies - that is blatantly unfair, since the money came from American taxpayers.

1 comment:

  1. All taxpayers do is get angry and post comments (like mine) on the internet, but they don't do anything about it. It's a lost cause. The people of the USA are a lost cause. Do you know what they are most concerned about? American Idol. Go figure that. When I try to mention what's going on to people I know, especially those I know on the internet, they just brush it all off and try to act like I'm being too negative.

    ReplyDelete

→ Thank you for contributing to the conversation by commenting. We try to read all of the comments (but don't always have the time).

→ If you write a long comment, please use paragraph breaks. Otherwise, no one will read it. Many people still won't read it, so shorter is usually better (but it's your choice).

→ The following types of comments will be deleted if we happen to see them:

-- Comments that criticize any class of people as a whole, especially when based on an attribute they don't have control over

-- Comments that explicitly call for violence

→ Because we do not read all of the comments, I am not responsible for any unlawful or distasteful comments.