Pat C

AIG Counterparties: The SIGTARP Report

Another great article. It is inconceivable to me that our legislators are not demanding that CDS's and other financial derivatives that are insurance not be treated as such. It makes no sense to me why we don't insist that the insured party have an "insurable interest" in order to enter into the contract. In addition, the insurer should have adequate capital and be required to mark them to market and provide cash collateral when the contract is upside down. Anything less, encourages speculation and fraud. I have no problem with financial derivatives. I have used Interest swaps and they were a good product to manage interest rate and maturity mismatch but you should have a clear direct risk before the contract.

Understanding the AIG Decision

I'm not so sure this wasn't to protect the International Financial system particularly the French. Bad deal and since we can't take it back we should continue to demonize GS because that is exactly what they deserve and the American people need to know it.

CDS's are insurance plain and simple. They should be treated as such. First you must have strong standards defining what is an "insurable interest" and then subject them to collateral and capital requirements. Standardizing them and putting them on an exchange is not strong enough.

Proposal for Fed to Become the Next AIG

Insanity, defined.

The Appropriate Sports Metaphor for the State of the U.S. Economy

I would like to 2nd Tony's comment. We need to look at the strength of our front line and the bench. We need to actively recruit new players keeping in mind the extraordinary depth of our opposing teams and the expansion of the league. We have allowed our manufacturing front line to age and become weak. We have assumed that the creative financial ends and digital running backs could carry the team. What we found is that they are fickle and not quite as dependable as we thought.

When Goldman Might Have Failed

Goldman needs to go - plain and simple. Anything short of that we the people will end up with nothing but trouble. It is time to play hardball with GS. They are the biggest offender, we take them out the rest should follow.

Was the AIG Bailout a Goldman Bailout by Proxy?

Every time I think of GS I become enraged. I am usually a calm American that believes in live and let live. I can't put my finger on what is triggering it. Without spending a fortune on physcological treatment. I thing it is because GS represents everything that is wrong today: corrupt politicians, financial manipulation and hubris.

GS needs to be destroyed, it cannot be allowed to live. The longer it is allowed to survive the worse we will become. There I said it.

$10 Trillion in Wall Street Aid and No Investigations?

Keep it up Jeff, I watched Geitner on CNN yesterday and I was furious. When the topic of AIG and the direct Godman Sach's bailout came up he basically said that the regulators (we the sheeple) were powerless. I guess we know who is in charge.