SIGTARP: Taxpayers still exposed as AIG shrinks CDS portfolio

 · Unlike natural disasters and other low-beat risks, where the frequency of events is relatively low and uncorrelated to the financial markets, in CDS the high degree of market correlation ensures that most or all of a portfolio of single-name CDS contracts will deteriorate when economic conditions turn negative.

 · Despite the meltdown of the euro in May, foreign investments have still outperformed U.S. stocks. Emerging markets have performed even better. Between May and October they were up 10.15%.. Greater tax exposure.. or even certificates of deposit and hold them until they mature, you face reinvestment risk, the risk that interest rates are.

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Extent of Federal Agencies’ Oversight of AIG Compensation Varied, and Important Challenges Remain, SIGTARP-10-002 by United States. Office of the Special Inspector General for the Troubled Asset Relief Program

Goldman clearly partially anticipated this event. It had bought CDS on AIG, that was its defense, that it was not exposed. SIGTARP rejected that argument since if AIG had imploded, the financial system probably would have seized up, and those guarantees would be worthless. So what happens to GS if there was no collateral posted?

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Taxpayers are still owed more than half their original investment in American International Group [stock AIG][/stock] even as its non-insurance business operates without a consolidated banking.

 · Wall street bailout sigtarp (special inspector General for the Troubled Asset Relief Program) Reports. called a credit default swap.. Amid rising pressure from Congress and taxpayers, the American International Group on Sunday released the names of dozens of financial institutions that benefited from the Federal Reserve’s decision last.