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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: RJA_ who wrote (98423)	10/7/2008 6:23:41 AM
From: Box-By-The-Riviera™	Respond to of 110194

wow!! after all these years. that's that. i'm stunned. thanks.

To: RJA_ who wrote (98423)	10/7/2008 11:47:50 AM
From: LLCF	Respond to of 110194

Internal accounting issues @ AIG: {'financial products division'= "derivitive products inventions and contract formulation}" WASHINGTON - Executives at the American International Group Inc. hid from its auditors the full range of risky practices at its financial products division even as losses mounted, according to documents obtained by a congressional panel examining Tuesday the chain of events that forced the government to bail out the conglomerate. As losses from risky financial products mounted in March, the Office of Thrift Supervision warned that "corporate oversight of AIG Financial Products ... lack critical elements of independence, and granularity." At the same time, AIG's auditor, Pricewaterhouse Cooper confidentially warned the firm that the "root cause" of AIG's problems was that internal overseers in charge of limiting AIG's exposure were denied adequate access to the activities of the highly leveraged financial products branch. DAK