Monday 2 March 2009

Weapons of mass destruction

Why is AIG receiving more support than Citigroup?
Because this insurer is what Brussels is to Europe: the core of the derivative mess?
The big beneficiaries of the AIG rescue are Goldman Sachs, Societe Generale, Deutsche Bank and Merrill Lynch.
Mention how rating agencies maintain their rating for AIG. Based on what?
AIG is the backdoor to funnel money to banks, it seems. Because these are names you never hear off and who can give any reason why they would be different from Citigroup or Bank of America?
This thing is scaring as there is no transparency allowed.
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