To: TopQuark
"..If AIG could not forsee the crisis and properly estimate the systemic risk, neither could government regulators. The article shos that, even in retrospect a year later, the regulators don't even know what the systemic risk was..."
The Credit Default Swap meltdown had less to do with estimating the systemic risk than it did with the desire of the managers to generate enormous bonuses by backing risk THEY KNEW was crap. The entire operation was a scam.
To: Liz; STARWISE; onyx; Bahbah; maggief
3 posted on
01/28/2010 11:05:02 AM PST by
hoosiermama
(ONLY DEAD FISH GO WITH THE FLOW.......I am swimming with Sarahcudah! Sarah has read the tealeaves.)
To: Anti-Bubba182
>The entire operation was a scam.
I believe the exact word is fraud.
6 posted on
01/28/2010 11:22:43 AM PST by
OneWingedShark
(Q: Why am I here? A: To do Justly, to love mercy, and to walk humbly with my God.)
To: Anti-Bubba182
The Credit Default Swap meltdown had less to do with estimating the systemic risk than it did with the desire of the managers to generate enormous bonuses by backing risk THEY KNEW was crap. The entire operation was a scam.
"He who works his land will have abundant food, but he who chases fantasies lacks judgment." Proverbs 12:11
"Dishonest money dwindles away, but he who gathers money little by little makes it grow." Proverbs 13:11
"The plans of the diligent lead to profit, as surely as haste leads to poverty. A fortune made by a lying tongue is a fleeting vapor and a deadly snare." Proverbs 21:5-6
"He who works his land will have abundant food, but the one who chases fantasies will have his fill of poverty. A faithful man will be richly blessed, but one eager to get rich will not go unpunished." Proverbs 28:19-20
8 posted on
01/28/2010 11:38:26 AM PST by
fallujah-nuker
(My vote made a difference. Because of my vote an extra ballot in had to be stuffed in King County.)
To: Anti-Bubba182
"The Credit Default Swap meltdown had less to do with estimating the systemic risk"
That's not what you heard for good one half of the year. They blamed "derivatives" before they moved to bonuses.
"than it did with the desire of the managers to generate enormous bonuses"
Very silly. The first thing you've been told in school was that corporate management is hired to generate profits for owners (which is nowadays the American public in the case of large corporations such as AIG). To generate profit is therefore THE job managers are hired to do. Bonuses help them to exert more effort in that direction, but this is because the OWNERS want them to do so.
"by backing risk THEY KNEW was crap."
Defamation. Pure defamation.
"The entire operation was a scam."
16 posted on
01/31/2010 6:25:17 AM PST by
TopQuark
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