[lbo-talk] AIG: how to break the contracts

knowknot at mindspring.com knowknot at mindspring.com
Tue Mar 17 12:55:13 PDT 2009


On 3/17/09, Doug Henwood said:

> So Obama tells Geithner to do something, anything, to make sure the

> gov can get back the AIG bonuses. Who knows if this is real or a pose?

> I'm now leaning towards the latter, especially after getting this from

> a friend who works at a hedge fund...

>

> <http://doughenwood.wordpress.com/2009/03/17/those-aig-bonuses-how-to-break-the-contracts/

>

Your hedge fund affiliated friend is right, but probably understated. More to the point, the "Subject" you assign to this thread is (even if inadvertently) question-begging:

We (the public) don't even know that there actually are any contracts of the sort referred to much less, even if there are such, what they provide.; and perhaps significantly in this respect, although there have been leaked to the press generalized references by or on behalf of AIG to the effect that there is some (of course: purchased by AIG on behalf of the payees) "opinion of counsel" or the like putatively advising that the payments in question are contractually required, those opinions, too, have not been made public.



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