More on the AIG Counterparties

http://www.futureofcapitalism.com/2009/10/more-on-the-aig-counterparties

How good is the word of Goldman Sachs' CFO these days? Here's Bloomberg columnist Jonathan Weil:

Goldman, for one, has long said it wouldn't have incurred any material losses even if AIG had gone under.

"We limited our overall credit exposure to AIG through a combination of collateral and market hedges," Goldman's chief financial officer, David Viniar, said in March. "There would have been no credit losses if AIG had failed."

Then again, Viniar is the same guy who this month made the ridiculous claim that Goldman doesn't have a too-big-to-fail guarantee from the government. Goldman has refused to identify who the counterparties were on the other side of its hedges, rendering Viniar's statement in March unverifiable.

by Editor  |  Oct 29, 2009 at 10:13 am Related Topics:  AIG, Banking, Capital Markets Regulation, Goldman Sachs receive the latest by email: subscribe to the free futureofcapitalism.com mailing list