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    Even worse that so much of the US taxpayer funding of AIG went to rescue European banks that bought AIG CDS rather than maintain reasonable capital levels on their owm.

    We certainly got suckered on that one.

    I hope whatever regulatory mechanisms get put in place recognize that there has to be per-country liquidity firewall that prevent the sort of interlocking leverage structures that the CDS mess enabled.

    What a house of cards.
    Mar 16 10:41 am |Rating: +7 0 |Link to Comment
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