Comments on: AIG bailed out http://blogofbile.com/2008/09/16/aig-bailed-out/ from the bowels of the mind Wed, 07 Jan 2009 20:49:58 +0000 http://wordpress.org/?v=2.6.5 By: bile http://blogofbile.com/2008/09/16/aig-bailed-out/#comment-2712 bile Wed, 17 Sep 2008 14:20:39 +0000 http://blogofbile.com/?p=2088#comment-2712 And some of the players in these bailouts are on the NY Federal Reserve board as I understand. As for not knowing what they needed... it's very likely. These investment firms are almost unknowably complex. Apparently MS didn't pick up Merrill for that reason. There just wasn't enough time to figure out what they'd be getting into. And some of the players in these bailouts are on the NY Federal Reserve board as I understand.

As for not knowing what they needed… it’s very likely. These investment firms are almost unknowably complex. Apparently MS didn’t pick up Merrill for that reason. There just wasn’t enough time to figure out what they’d be getting into.

]]> By: invisipunk http://blogofbile.com/2008/09/16/aig-bailed-out/#comment-2711 invisipunk Wed, 17 Sep 2008 13:58:58 +0000 http://blogofbile.com/?p=2088#comment-2711 I heard today morning on CNBC that there might be possible recriminations brought up against JP Morgan.  With the Fed initially leaning towards AIG getting private loans from other companies, there was some discussion with JP Morgan.  JP Morgan gets AIG to show their books to go over the numbers.  Apparently most people at AIG were clueless as to how bad things really were.  In the end JP Morgan essentially "sells AIG out to the Fed".  Supposedly the reason private interests didn't step in was because no one could figure how much was needed but somehow the Fed and JP Morgan arrive at $85 billion.  It's also important to note the role of JP Morgan in the creation of the Federal Reserve. I heard today morning on CNBC that there might be possible recriminations brought up against JP Morgan.  With the Fed initially leaning towards AIG getting private loans from other companies, there was some discussion with JP Morgan.  JP Morgan gets AIG to show their books to go over the numbers.  Apparently most people at AIG were clueless as to how bad things really were.  In the end JP Morgan essentially “sells AIG out to the Fed”.  Supposedly the reason private interests didn’t step in was because no one could figure how much was needed but somehow the Fed and JP Morgan arrive at $85 billion.  It’s also important to note the role of JP Morgan in the creation of the Federal Reserve.

]]> By: beetlbumjl http://blogofbile.com/2008/09/16/aig-bailed-out/#comment-2700 beetlbumjl Wed, 17 Sep 2008 03:03:57 +0000 http://blogofbile.com/?p=2088#comment-2700 I thought the point of insurance was that customers pay so they may compensated in the event of a catastrophic event... How the roles have reversed. Edit: 11.3% Ouch. I thought the point of insurance was that customers pay so they may compensated in the event of a catastrophic event… How the roles have reversed.

Edit: 11.3% Ouch.

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