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The government is not a money lender, it rescued AIG even forcibly one might say because of the doomsday risks it posed to the rest of the economy (they were un
by farseer 14y ago
The government is not a money lender, it rescued AIG even forcibly one might say because of the doomsday risks it posed to the rest of the economy (they were underwriters on trillions of derivative contracts). The AIG bosses should be happy that they weren't tried in a court of law for issuing fraudulent CDS insurance. All said the circumstances regarding AIG were exceptional and the banking jargon doesn't apply here.
- smsm42 14y agoThe government is a huge money lender, what you're talking about? The government lent tons of money to tons of companies, and will do it again whenever it would want to. As for if AIG bosses did something criminal or not, that's completely unrelated question to the question if the deal AIG as a company got was fair or not. Exceptional circumstances also have little to do with it - either the deal was fair, and then they don't matter, or it was not, and then circumstances are no excuse. Banking jargon has nothing to do with it either - there are plenty of examples in US law where unfair deals are considered illegal and one can be punished for doing such deals.