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Here We Go Again: German Equiv To NY Times Says AIG Sold CDS On Greece

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Here We Go Again: German Equiv To NY Times Says AIG Sold CDS On Greece

Old 03-04-10, 04:56 PM
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Here We Go Again: German Equiv To NY Times Says AIG Sold CDS On Greece

FAZ (a well-respected German Paper considered the NY Times of Germany) reports that London has "outed" AIG as a seller of CDS on Greece.

Nobody wants to deal with these guys. We'll be on the hook for tens of billions (maybe even hundreds of billions if you include the other PIIGS - Portugal, Ireland, Italy, Spain - that are next in line to default). All paid to foreign nations via the US taxpayer.

Healthcare in the news everyday yet the financial crisis doesn't seem to be over for us. Another blow-up on the way. I wonder when Americans were supposed to find out about this seeing as our own press hasn't bothered to inform us.

http://m.faz.net/Rub645F7F43865344D1...l~Scontent.xml

For those who can read German, the most pertinent line in the article:

Londoner Investmentbanker nennen als weiteren CDS-Verkäufer den amerikanischen Versicherer AIG

Translated:

"London investment bankers named as another CDS seller the American firm AIG."

The full translated article appears here:

From EuroSavant:

The Fever-Curve Of The Greek Debt Crisis

http://www.eurosavant.com/2010/02/21...escent-bubble/

I am afraid the rabbit hole goes very, very deep. Why isn't Obama dealing with these "weapons of mass destruction" as Buffet called them. They're just appearing to blow up again and again. How long before it's fatal? Why was AIG never shut down in the first place and all CDS made null and void at the onset of this crisis?
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