What happened with AIG?
September 24th, 2008I did a stint at AIG about a year back, helping them with restructuring their UK business into a consolidated entity. They were speaking to Standard & Poors to get a credit rating for the consolidated entity. They got the rating that they were looking for. I wasn’t surprised, the amount I heard about AIG’s gold standard risk management infrastructure and the highly risk averse investment mandate.
Of course this didn’t help much when the $440bn worth of Credit Default Swaps (CDS) that they issued to everybody and their uncle Read the rest of this entry »
