The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
The regulator "did not sufficiently assess the susceptibility of highly illiquid, complex instruments," to ratings downgrades, Scott Polakoff told the banking committee in prepared testimony today. "In hindsight, OTS should have directed the company to stop originating credit-default swap products before December 2005."
Are you seriously going to argue in a sober voice that the Commodities Futures Modernization Act did not matter to AIG's failure?
Would you also have argued that if it had passed in 2001 instead of 2000?
Austerity can only be implemented in the shadow of a concentration camp.
Keep on dreaming.
Are you claiming the OTS would have had better luck under a Gore presidency than the CFTC had under the Clinton presidency? If so, on what grounds?
Even Clinton says derivatives dereg was a mistake.
Even Rubin admits he was wrong although in his typically self-serving way
While some people saw one or more of these factors, virtually no one involved in the financial system--whether institutions, investors, regulators, analysts, or commentators--recognized the breadth of forces at work or the possibility of a megacrisis, and this included the most experienced among us. More personally, I regret that I, too, didn't see the potential for such extreme conditions despite my many years involved in financial matters and my concern for market excesses.
by eurogreen - Aug 15 27 comments
by afew - Aug 19 64 comments
by eurogreen - Aug 17 2 comments
by Frank Schnittger - Aug 7 76 comments
by Oui - Aug 6 65 comments
by Frank Schnittger - Jul 30 43 comments
by Frank Schnittger - Aug 6 188 comments
by Oui - Aug 5 3 comments
by afew - Aug 1964 comments
by eurogreen - Aug 172 comments
by eurogreen - Aug 1527 comments
by Frank Schnittger - Aug 776 comments
by Oui - Aug 665 comments
by Frank Schnittger - Aug 6188 comments
by Oui - Aug 53 comments
by Oui - Aug 25 comments
by Frank Schnittger - Jul 3043 comments
by Oui - Jul 284 comments
by gmoke - Jul 271 comment
by Oui - Jul 261 comment
by Frank Schnittger - Jul 26245 comments
by Oui - Jul 257 comments
by Frank Schnittger - Jul 2514 comments
by Oui - Jul 243 comments
by Migeru - Jul 249 comments
by Migeru - Jul 2464 comments
by Oui - Jul 237 comments