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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 444.95-10.3%Jan 30 4:00 PM EST
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To: arun gera who wrote (176728)8/19/2021 3:53:13 AM
From: maceng22 Recommendations

Recommended By
Pogeu Mahone
sense

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<<AIG almost brought down the financial system in 2008.>>

You mean AIG Financial Products?

Yes, I agree with your point of view in that matter, but most insurance companies don't engage in that type of fraud.

"Subprime Loans ExplosionThe Wall Street Journal reported “…AIG didn’t anticipate how market forces and contract terms not weighed by the [advanced risk-assessment] models would turn the swaps, over the short term, into huge financial liabilities. AIG didn’t assign Mr. Gorton [the Yale Professor responsible for creating those computer models] to assess those threats, and knew that his models didn’t consider them. Those risks have cost AIG tens of billions of dollars and pushed the federal government to rescue the company in September.”"

AIG: The One-Way Bet Behind the 2008 Financial Crisis? – Zero Theft

Crony Capitalism is hardly a conspiracy theory, it is conspiracy fact. As yet the general public seem to accept that conspiracies don't exist , while in fact they are commonplace. These conspiracies should be rigorsly rooted out and the real guilty parties identified and sent to jail for appropriate periods. All those guys are at the top.
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