Raw video from the AP indicates that the large AIG sign was removed from the embattled company’s downtown Manhattan offices over the weekend. Executives in AGI’s disgraced financial products division are reported to have entered the federal witness protection program…
3 Comments
March 23, 2009 at 11:08 am
Here’s something that I picked up on via my tom-toms this morning. Sorry, I don’t have the original source (an investment banker), having gotten the info third-hand.
Hidden in an obscure corner of the derivatives market is a unique credit default swap that virtually no one is talking about — contracts on the default of United States Treasury bonds. Quietly and without fanfare, a small but growing number of investors are not only thinking the unthinkable, they’re actually spending money on it, bidding up the premiums on Treasury bond credit default swaps to 14 times their 2007 level.
Can you believe it? If there be any truth to this and if I understand it correctly, it means that the “players” are now taking bets on whether the United States survives as a nation or not. It’s just too fucking crazy! What a ride!
March 23, 2009 at 11:16 am
It wouldn’t surprise me.
March 23, 2009 at 3:26 pm
They really need to come out with a new version of Monopoly, where each player has his/her own bank as well.