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View Diary: Sen. Elizabeth Warren gives thumbs down to AIG's possible suing of taxpayers for bailing it out (125 comments)

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  •  One criticism of the AIG bailout was that it was (7+ / 0-)

    really a bail-out of Goldman-Sachs & other Wall St biggies who were on the other side of all the CDSwaps AIG had sold.  Although I think some bailout of AIG made sense given its size, it could've been structured so that GS et al. bore some of the cost since they were the ones who had made the bad bets by having AIG as a counterparty in a type of deal that they knew AIG really wasn't expert at.   Both GS et al. & AIG were being insanely reckless with these CDSWs, but only the AIG shareholders to some degree and the US taxpayer ended up with the losses.  

    Government of the what, for the what, and by the what?  

    P.S.  I've read a ton of books on the crash, but, if you haven't read it yet, "The Big Short" still wins by many lengths the race for best combination of entertainment & informativeness.  

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