RiskAverseAlert

Can We Insure Against Systemic Risk?

And what office of "AIGFP created systemic risk out of nothing by mispricing CDS contracts?"

Why, it was the London office!

There simply is no "accidentally increasing vulnerability." This was done for the very purpose of bringing the greatest nation on earth to its knees.

Cut with the sophism about "systemic risk." The effects of excessive leverage are well-known. This is all we should be talking about when considering the shadow banking system. Its purpose -- largely facilitated by City of London offshore financial centers -- simply was to give the United States rope enough to hang itself with.

Yet as long as there is a Congress, there is hope the people might one day come to their senses and vote that the City -- the ageless enemy to the People of the United States -- be turned into a parking lot.

(Of course, we can count on Mr. Dimon's public objection!)