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Christopher Whalen » Comments » PNC

  • AIG: Before Credit Default Swaps, There Was Reinsurance [View article]
    What may be wrong with the FAI-HIH letter is that is suggests that the reinsurance was not a true, risk-shifting transaction. It suggests, IMHO, that the reinsurance was a canard meant to window dress the financial statement of the purchasers of protection. Good questions.
    Apr 04 08:25 am |Rating: 0 0 |Link to Comment
  • Banks Stressing the System vs. Potential Winners of the TARP Repayment Race [View article]
    Tyler:

    Good piece. You sure that the T1 capital series in the chart is correct? Tier One Risk Based Capital excludes many but not all intangibles. Are you subtracting the remaining intangibles to get tangible common? For example, Citi has $30bn in total intangibles in the lead bank. $20b is disallowed as part of T1 RBC. But there is still $10b in intangibles in T1 RBC, so I take out the remaining items.

    Chris
    Feb 25 21:38 pm |Rating: 0 0 |Link to Comment
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