Value Investing Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Value Investing

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: E_K_S who wrote (33746)	3/10/2009 11:27:30 AM
From: E_K_S	Read Replies (1) of 78740

Where were the regulators! Very scary that the actions of a small group of traders could potentially bring down the U.S. & the World banking system. AIG's Small London Office May Have Lost $500B Feds, Brits Probe AIG's London Office on $500B Losses abcnews.go.com From the article:"...Ground zero for AIG's spectacular implosion, which has soaked up more federal bailout money than any other entity, appears to have been a small London branch office that may have lost nearly half a trillion dollars in bad deals...."..."The group's traders "found a crack in the system that was unregulated," Koenig told "GMA." ..."...they suddenly realized they had to come up with a half a trillion dollars and all they had was a couple of million in the bank." ..." Video Clip: abcnews.go.com =============================================================== The head trader continues to get paid $1million per month as a consultant to AIG. Some type of regulation and oversight has to be done to stop companies transacting such risky deals. Such deals should be illegal unless approved by the regulatory agency with huge fines and jail time for all parties that do not comply. I wonder how many other similar ticking "land mines" are out there that are ready to explode. This is not an isolated case. EKS

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next