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michael kors size 10 boots on ebay The short answer is that AIG, despite the awful misjudgments of a subsidiary that insured trillions of dollars worth of mortgage securities, had valuable revenue-generating businesses and a plausible claim to solvency. Unfortunately, the Fed could not force them to change their minds; several of them weren’t even U. And the Fed could not impose the haircuts without forcing Amichael kors wallet price in malaysia Sl5u2AIG into default; the creditors logically concluded a government that was spending 2 billion to avoid a default wasn’t going to create a default on purpose to save billion.,michael kors 2012 handbags AIG was as rapacious and reckless as any bank.This is the key: In a financial crisis, default is the enemy. The short answer is that AIG, despite the awful misjudgments of a subsidiary that insured trillions of dollars worth of mortgage securities, had valuable revenue-generating businesses and a plausible claim to solvency.michael kors handbag jet set large tote

michael kors wallet gumtreeS. Its shareholders, who would have received nothing if the government had let the firm collapse, are now complaining in court that they should have gotten more.” He thinks the trial underway in Washington will reveal the real reason AIG’s creditors didn’t face haircuts; he doesn’t think the official explanation—that voluntary haircuts wmichael kors wallet price in malaysia Sl5u2Aere impossible, and involuntary haircuts would have accelerated the panic—makes any sense.,michael kors iphone 5 clutch wristlet”Uh…no. And maybe it’s already time for the country to move on.Ultimately, AIG would receimichael kors wallet price in malaysia Sl5u2Ave an astonishing 2 billion in government financing, and it would pay back every dime with interest.michael kors womens bag mk handbag shoulder bags 6821



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