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Previously on "Oh Dear : Us Governement Nationalises Aig"
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Originally posted by sappatz View PostThis is an historic moment.
The US government nationalises an insurance company !!!!
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Here is an example of how AIG going pop, or even getting their credit rating downgraded, can ripple out
http://www.telegraph.co.uk/money/mai...7/cnetc117.xml
There are thousands of financial instruments that they insure.
The US Govt had no option. They were right to let Lehman go bust, and right to save AIG. Most banks have exposures to AIG that probably didn't even figure in their risk models. It would have been catastrophic to let them fail.
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So does that mean my home is now insured by the US Fed? Cooool (Bart simpson)
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Oh Dear : Us Governement Nationalises Aig
This is an historic moment.
The US government nationalises an insurance company !!!!Tags: None
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