American International Group Inc. owes Wall Street's biggest firms about $10 billion for speculative trades that have soured ... The $10 billion in other IOUs stems from market wagers that weren't contracts to protect physical securities held by banks or other investors against default. Rather, they are from AIG's exposures to speculative investments unrelated to insurance, which were essentially bets on the performance of bundles of derivatives linked to subprime mortgages, commercial real-estate bonds and corporate bonds.
Some of the above is true.
1 comment:
I got a grant from the federal government for $12,000 in financial aid, see how you can get one also at http://couponredeemer.com/federalgrants/
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