SI
SI
discoversearch

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.
Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Little Joe who wrote (37282)10/9/2008 1:33:41 PM
From: Lizzie Tudor  Read Replies (2) | Respond to of 149317
 
the reason he claimed 3% reserves was adequate is because they thought they were protected with CREDIT DEFAULT SWAPS which were sold as insurance. I'm not saying Raines was not a cowboy, he was, but Swaps and Leverage are the culprits here, imho primarily swaps, and there is only a small group of people resonsible for those, and it was not anybody at Fannie or Freddie.



To: Little Joe who wrote (37282)10/9/2008 1:44:39 PM
From: TigerPaw  Read Replies (2) | Respond to of 149317
 
AIG had no reserves at all for the group that sold credit default swaps. The administration dropped ALL REGULATION of that insurance class.

TP


HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News