Cute:
Five people from this area are going to federal prison over a phony credit default swap deal between General Re and AIG. AIG used it to overstate their capital reserves by 500 million to support the price of AIG stock. Federal prosecutors proved their was no real re-insurance and the whole deal was a fraud they claimed cost stockholders billions.
Robert F
” they claimed cost stockholders billions.”
And taxpayers trillions
And what about . . .
The YouTube video should help some who might be swayed by the alleged financial expertise of a presumed Common Council candidate, who had worked for a derivative trading firm. It’s just worth noting that the oddity that people who have profited, albeit honestly, from the financial crisis can claim with a straight face that they have some special talent to help us. Definitely the expertise Norwalk needs now!
