Sunday, March 15, 2009

I should be writing a review,

But I got distracted by this. AIG spilled some of the beans. Here's where our money went when we funneled it through the faltering insurance giant:

A.I.G.'s Biggest Counterparties
So we gave money to AIG because evil antimatter zombie demons were going to eat our wallets otherwise. And then -- because they'd insured a lot of shit they couldn't afford to cover when the market for the shit turned to more shit -- AIG gave money to...

Banks in France, Germany, Denmark, Scotland, Canada, and possibly Pluto, which is beyond Uranus.

Isn't it swell that the Fed and AIG formed a company to deal with the tanking securities behind a buncha rotting credit default swaps? I especially like what they named it: Maiden Lane III.

Maiden! Get it?

Not yet fucked!

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