User 307291

America's Insolvent Banks

The assumption that $300B is coming from 100M households in the US is incorrect. Banks make their profits on a worldwide basis. Additionally, profits from corporations will be passed back to worldwide consumers in the form of higher costs of goods.

What Obama Needs to Know about Tim Geithner, the AIG Fiasco and Citigroup

Does anyone have an estimate of the government's exposure to CDS as a result of AIG's book?

For instance in the Lehman closeout, $400B of their debt resulted in $6B (give or take) in actual CDS settlement. Assuming 10-15% of counterparties insured by AIG default over the next 18 months, the gloomiest of nuclear winter scenarios, what is the taxpayers' hit?