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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Secret_Agent_Man who wrote (40257)	9/22/2008 11:03:20 PM
From: TobagoJack	Respond to of 218125

just in in-tray Interesting anecdote heard second hand. Why has Goldman held up so well relative to others? Perhaps it is because they know and understand their positions and their risks. Merrill and Goldman have had similar sized balance sheets. Merrill has 100 internal controllers. Goldman has 1,600 internal controllers. Enough said. Also a rumor that when the Fed called a meeting, they asked everyone to disclose their CDS exposure and derivatives exposure. Everyone gave their number. But apparently the CEO at AIG called a day or two later and said that their exposure was 2 or 3 times what he had stated at the Fed/Treasury meeting. He was forced to resign within minutes as it was apparent that he had no idea of the positions, risk, or anything else regarding the trading positions of the firm..... Unsubstantiated rumors, but they make sense.....