Friday, January 29, 2010

Weil Asks the Question

Jonathan Weil (JW) at Bloomberg, 7 January 2010, asks the "big question" about AIG and its worthless shares. Why have they any value? JW also wonders where the SEC and PWC on AIG's financials? Thank Dark Cloud for bringing this to my attention, link:

I've asked these questions for about two years, here a sample: 20 February, 21 November, 18 December 2008, 19 March, 12 and 13 May 2009.


Anonymous said...

"...At least at AIG, some of the secrets are starting to come out. Fed and Treasury officials should feel ashamed for letting AIG’s bosses keep them from the public for so long.

Good luck to anyone at the SEC who feels inspired to investigate this can of worms."


Didn't the SEC agree to let AIG keep all the disclosure locked up for 10 years? They were part of the coverup.

The SEC and the auditor have let that bankrupt shell pretend that they have equity. Lalala. Magic. That sure saves a LOT of political headaches.

And the guy who is head of SEC enforcement... wasn't he general counsel for Deutsche Bank, one of the prime counterparties? What's he gonna enforce? I'm sure he has already ascertained that every thing is "A O-K".

darkcloud said...

Your welcome, IA. For all you've done to inform, I'm glad to be able to reciprocate to you.