Comments on: The battle for power

By: Golem XIV - Thoughts

Golem XIV - Thoughts — Tue, 25 May 2010 17:49:29 +0000

🙂

By: andrew

andrew — Tue, 25 May 2010 17:38:21 +0000

blind pool
great game

the french when they play billiards, they dont even have pockets!!

By: Golem XIV - Thoughts

Golem XIV - Thoughts — Mon, 24 May 2010 07:32:45 +0000

Dear Mr Eirik,

Idiotic though it may seem to you, Blind Pool is a standard term. And AIG will have offered insurance without knowing any details of what was in the Pool. They would have offered the insurance on the basis of the 'Good Name' of the Bank or Banks offering the Pool.

It is legal and common.

I believe the ECB is sitting on quite a number of such Pools itslef.

Idiotic and unbelievable? Welcome to FInance.

By: Lars Eirik

Lars Eirik — Mon, 24 May 2010 07:27:38 +0000

If "blind pool" is in deed the correct term, and AIG actually do not know anything about the insured assets, then AIG has written insurance without any possibility of assessing the risk it took on in advance.

For an insurance company of this importance publicly to admit this, is beyond words. This recklessness must surely be criminal negligence. There must be names on these contracts, names to pursue.

At least the American taxpayer should soon have the satisfaction of seeing more police cars with sirens pulling up in front of some corporate HQs and escort handcuffed execitives to prison.