The Wall Street Journal has at least halfway opened the bag as to who’s the ultimate beneficiary of them refusing to disclose who benefits, ultimately, from the ever-ongoing AIG bailout.
Yep, Goldman Sachs is up there at the top.
As is Deutsche Bank, French bank Société Générale SA, Royal Bank of Scotland and HSBC Holdings, among others.
That earthquake you just heard?
It’s the pre-cratering of European stock exchanges.
Why all the Euro banks are involved is that AIG floated them money to let them lower their margins on mortgages and other investments, through a variety of swaps.
In other words, some of the American financial alphabet soup, such as CDSs, is washing away at the shores of European finance, too.
Again, that earthquake you just heard?
No comments:
Post a Comment
Your comments are appreciated, as is at least a modicum of politeness.
Comments are moderated, so yours may not appear immediately.
Due to various forms of spamming, comments with professional websites, not your personal website or blog, may be rejected.