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Mission Failure as CAT Suffers Failure to Launch

Financial Reform Newsletter
November 22, 2018


SEC Proposing Rules That Will Lead to More AIG/CDS Gambling, Blowups & Bailouts
AIG had a very lucrative business before the 2008 crash of gambling with unregulated credit default swaps (CDS) without setting aside any margin or capital.  Instead, all the profits were put into bonuses for AIG’s executives.