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PostPosted: Sun Oct 14, 2012 11:45 pm 
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I think it had nothing to do with picking winners and losers. It was an attempt to limit the worldwide financial and banking fallout which would have occurred had AIG collapsed and all of the credit default swaps they guaranteed lost that guarantee. Major banks around the world would have collapsed because they couldn’t instantly make the cash payments necessary to meet their obligations under the swaps.


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PostPosted: Mon Oct 15, 2012 6:38 am 
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harveyT wrote:
I think it had nothing to do with picking winners and losers. It was an attempt to limit the worldwide financial and banking fallout which would have occurred had AIG collapsed and all of the credit default swaps they guaranteed lost that guarantee. Major banks around the world would have collapsed because they couldn’t instantly make the cash payments necessary to meet their obligations under the swaps.


Uh.....Harvey, did you know you were responding to a 4 year old post just now?? :)

if so...carry on!


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PostPosted: Mon Oct 15, 2012 10:01 am 
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johnreynolds wrote:
harveyT wrote:
I think it had nothing to do with picking winners and losers. It was an attempt to limit the worldwide financial and banking fallout which would have occurred had AIG collapsed and all of the credit default swaps they guaranteed lost that guarantee. Major banks around the world would have collapsed because they couldn’t instantly make the cash payments necessary to meet their obligations under the swaps.


Uh.....Harvey, did you know you were responding to a 4 year old post just now?? :)

if so...carry on!

:lol: :lol: This happened to me too at one time or another. Just responded to a post without reading the date it was posted. :oops: Lesson learned. :)

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