5 ms·
Citations for either of these claims? This sources seems to indicate that goldman's use of the discount window was absolutely minimal: http://www.bloomberg.co
by nerfhammer 11y ago
Citations for either of these claims?
This sources seems to indicate that goldman's use of the discount window was absolutely minimal:
http://www.bloomberg.com/news/articles/2011-03-31/goldman-borrowed-from-fed-s-discount-window-at-least-five-times-data-show http://www.bloomberg.com/news/articles/2011-03-31/goldman-bo...
re: AIG, insurance companies were never regulated by Glass-Steagall
- finance-geek 11y agoBack then, you could shop for your regulator. Often companies shopped for the most lax regulator. AIG purchased a tiny credit union and then got themselves to be regulated by the "Office of Thrift Supervision": https://en.wikipedia.org/wiki/Office_of_Thrift_Supervision https://en.wikipedia.org/wiki/Office_of_Thrift_Supervision The wikipedia article has details on the other organizations who did this. Should AIG have been regulated by a tiny 30-person regulator? You judge, here is AIG's credit presentation: http://www.aig.com/Chartis/internet/US/en/FinalConf_revised_08-13-08_tcm3171-443279.pdf http://www.aig.com/Chartis/internet/US/en/FinalConf_revised_... AIG had a 1/2 Trillion USD one-way unhedged credit default swap exposure, amongst other exposures.
- nerfhammer 11y agoDoes this have anything to do with Glass-Steagall?
- maxerickson 11y agoGoldman converted to a bank holding company for TARP. https://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program#Participants https://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program#... I'm think I'm wrong about AIG and don't feel like chasing it.
- nerfhammer 11y agoHow could you conclude that given that many of the companies on that list are not bank holding companies? TARP eligibility had nothing to do with being a bank holding company.