There are no upcoming events right now.
Why not post one?
Recent Articles
- Justice for Indigenous Peoples is Long Overdueby Ryan McGreal, published June 30, 2021 in Commentary
(0 comments)
- Third-Party Election Advertising Ban About Silencing Workersby Chantal Mancini, published June 29, 2021 in Politics
(0 comments)
- Did Doug Ford Test the 'Great Barrington Declaration' on Ontarians?by Ryan McGreal, published June 29, 2021 in Special Report: COVID-19
(1 comment)
- An Update on Raise the Hammerby Ryan McGreal, published June 28, 2021 in Site Notes
(0 comments)
- Nestlé Selling North American Water Bottling to an Private Equity Firmby Doreen Nicoll, published February 23, 2021 in Healing Gaia
(0 comments)
- Jolley Old Sam Lawrenceby Sean Burak, published February 19, 2021 in Special Report: Cycling
(0 comments)
- Right-Wing Extremism is a Driving Force in Modern Conservatismby Ryan McGreal, published February 18, 2021 in Special Report: Extremism
(0 comments)
- Municipalities Need to Unite against Ford's Firehose of Land Use Changesby Michelle Silverton, published February 16, 2021 in Special Report
(0 comments)
- Challenging Doug Ford's Pandemic Narrativeby Ryan McGreal, published January 25, 2021 in Special Report: COVID-19
(1 comment)
- The Year 2020 Has Been a Wakeup Callby Michael Nabert, published December 31, 2020 in Special Report: COVID-19
(0 comments)
- The COVID-19 Marshmallow Experimentby Ryan McGreal, published December 22, 2020 in Special Report: COVID-19
(0 comments)
- All I Want for Christmas, 2020by Kevin Somers, published December 21, 2020 in Entertainment and Sports
(1 comment)
- Hamilton Shelters Remarkably COVID-19 Free Thanks to Innovative Testing Programby Jason Allen, published December 21, 2020 in Special Report: COVID-19
(0 comments)
- Province Rams Through Glass Factory in Stratfordby Doreen Nicoll, published December 21, 2020 in Healing Gaia
(0 comments)
- We Can Prevent Traffic Deaths if We Make Safety a Real Priorityby Ryan McGreal, published December 08, 2020 in Special Report: Walkable Streets
(5 comments)
- These Aren't 'Accidents', These Are Resultsby Tom Flood, published December 04, 2020 in Special Report: Walkable Streets
(1 comment)
- Conservation Conundrumby Paul Weinberg, published December 04, 2020 in Special Report
(0 comments)
- Defund Police Protest Threatens Fragile Ruling Classby Cameron Kroetsch, published December 03, 2020 in Special Report: Anti-Racism
(2 comments)
- Measuring the Potential of Biogas to Reduce GHG Emissionsby John Loukidelis and Thomas Cassidy, published November 23, 2020 in Special Report: Climate Change
(0 comments)
- Ontario Squanders Early Pandemic Sacrificeby Ryan McGreal, published November 18, 2020 in Special Report: COVID-19
(0 comments)
Article Archives
Blog Archives
Site Tools
Feeds
By JonC (registered) | Posted June 16, 2009 at 23:24:30
It was (is) even worse than that. Even the insurers were (still are) leveraging more than the value of the company.
http://www.villagevoice.com/2009-01-28/n...
"The heart of darkness was the AIG Financial Products (AIGFP) office in London, where a large proportion of the derivatives were written. AIG had placed this unit outside American borders, which meant that it would not have to abide by American insurance reserve requirements. In other words, the derivatives clerks in London could sell as many products as they could write—even if it would bankrupt the company.... They sold "protection"—this Runyonesque term was favored—worth more than three times the value of parent company AIG. How could they have not known that they were putting at risk the largest insurer in the world and all the businesses and individuals that it covered?
Permalink | Context