What I'd like to know:
Is AIG still
writing Credit Default Swaps over at the London office?
An excellent question I've been asking myself. Wonder how long it will take to get some real information on the activities of the London derivatives trading unit?
This group was almost certainly making deals that involved property-based instruments that have not soured, and were also likely to be trading derivatives based on other financial products as well. It would be instructive to know what the total value, sector breakdown and general health of these transactions has been and how they might be anticipated to perform in the future.
i just remembered a critique of tony blair i read a few years ago. the complaint that he imported from the US and replicated the clinton brand of deregulation. the chickens have come home to roost.