Maria Bartiromo: So you think Goldman is to blame for AIG?
Hank Greenberg: Oh yeah. And there’s more to come out.
Earlier: “We’re dealing with a jigsaw puzzle where all the pieces are not in the box. Bit by bit, we’re getting the pieces. The pieces are failing into place and the picture on the face of the puzzle is not a pretty picture.”
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- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
butt aroma for 1$, bob
Is he rumbling Goldman on behalf of PETA and Snowball or himself?
Thats either the world's largest west highland terrier or the world's smallest man.
Whilst I do believe Goldies are thieving scum, I do not buy all of Old Man Sans Dog's argument. He claims Goldman packaged crap and then bought protection off of AIG, knowing the sh%t stunk. Ok, that argument works for some of the crap, but did AIG have to insure all of it? Didn't they have counterparty limits that Goldman was clearly exceeding?
Don't bark too loud, Old Man, because it will come back to bite you.
There are known knowns. These are things we know that we know.
There are known unknowns. That is to say, there are things that we know we don't know.
But, there are also unknown unknowns. There are things we don't know we don't know.
was this the day he visited the set of the sound of music?
this guy is f*cking amazing, instead of admitting that his guy (Cassano, and friends) were completely out of their league and he, himself, didn't know/care/do anything about it, he points the finger at GS, amazing…
how can he not be senile?
@ anal:
Everything would have been just fine, if that Ackman asshole hadn't dyed his eyebrows and then started trash talking the bond insurers.
I blame everything on the guy with the unnaturally dark eyebrows.
@9 truly they wreak havoc. look at that one in the UK is doing to their treasury!
Don't trust the man. He is the greediest dog-touching faggot we've seen in the biz in a generation. Clearly losing his faculties to boot.
@11 simmer down.
People also forget about the millions Ol' Greeny made of AIG stock through forward sale contracts before the stock blew up….and he is blaming GS? Sounds like he had a good idea of what was going on before s*** hit the fan.
ace greenberg pet detective
@14 awesome
@11
What about Dennis Kneale
Caption:
Tintin got old and bumfucked.
Snoopy is still cute and curious.
The crux of the biscuit is the apostrophe.
Thank you #5 (barbarian) for clearing that up.
@5/Pfluger- Is that your way of telling us you're a Goldmanite? I know that speech.
The first part of that article is lol-tastic. Wah, wah – the ISDA made changes, the terms of the CDS's were too punitive. Look, if you don't understand the rules, don't play the game. (And AIG clearly didn't understand the rules)
This is the interesting question:
"When the government took over AIG, why did it insist that Goldman and other firms receive 100 cents on the dollar on their AIG exposure, while the terms of AIG's own bailout were so onerous as to force the firm into slow-motion liquidation?"
I think part of the answer is that AIG was the "most-fucked" institution.
And when you consider the alternative – let AIG fail like Lehman – it's not hard to see this as old man Greenberg looking a gift horse in the mouth.
AIG was way TBTF, and there was no way anyone was buying it, so the government really had no choice. But to complain about it after the fact is bs.
Also, not too difficult to see Hank's fingerprints (along with others) on the knife planted in Spitzer's career. In fact, given that Greenberg sat for this interview, this is pretty damn close to a brag. Which I kind of respect.