AIG - Bonk - Can't Say - Insurance Companies

  • Ring-Fencing
  • Solvency / Insolvency
  • Separate AIGFP and Insurance Companies
  • Entities / People could just go out and get new Insurance
  • Companies usually go into Bankruptcy, and still continue business
  • AIG Haircut vs Monoline
  • Paulson - EESA - Buy toxic assets vs Inject Capital
    • Money to Banks
      • Bair - Banks were fine, maybe not Citi, perhaps a cover for Citi
  • Solvency / Insolvent
    • InSolvent
      • Barney Frank - They weren't Solvent
      • GOV - Kohn
      • Eric Dinallo
    • Solvent
      • NAIC
      • 2011 - ACG - Examination
      • Eric Dinallo
  • Separate AIGFP and Insurance Companies
    • Possible
      • 2010 0217 - GOV - Luetmeyer - Missouri, Separate Entities
    • Not Possible
      • 2010 0127 - GOV - Geither - If we could have, why wouldn't we
    • Data
      • OTS - ACG - 7B to AIGFP
      • GICS, SunAmerica
      • Securities Lending / MIPS
  • Entities could just go out and get new Insurance
    • Yes
      • Peter Walliston
    • No
      • Greenberg-? - GOV - it would be tough
    • Question:
      • What about Life, Annuities, GICS
  • Companies go into Bankruptcy all the time, and still continue to do business
    • Yes
    • No
      • 1953 - LR - 
    • Why Can't they?
    • Stays
      • Claims vs. LIRP
      • FSOC / MetLife
        • Retirement Plans
        • 1990s
          • MetLife
          • Walker vs LSW
  • AIG - No Haircut vs Monolines - Haircut
    • Yes
      • 2009 1028 - tavakolistructuredfinance - Goldman’s Lies of Omission, by Janet Tavakoli - [link]
        • “New York Fed’s Secret Choice to Pay for Swaps Hits Taxpayers,” by Richard Teitelbaum and Hugh Son, Bloomberg News – October 27, 2009
        • Janet Tavakoli, founder of Chicago-based Tavakoli Structured Finance Inc., a financial consulting firm, says the government squandered billions in the AIG deal.
        • “There’s no way they should have paid at par,” she says. “AIG was basically bankrupt.”
        • Citigroup Inc. agreed last year to accept about 60 cents on the dollar from New York-based bond insurer Ambac Financial Group Inc. to retire protection on a $1.4 billion CDO [Ambac said the underlying was worth about zero, and the protection payment would otherwise have been the full $1.4 billion].
      • 2009 1030 - GOV (Issa) to William C. Dudley, President, Federal Reserve Bank of New York - 5p
      • No