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Well... That is one view of what happened between AIG and Goldman. I think it is under investigation and I certainly don't have the elements to conclusively establish what really happened, but it seems to have been, at the very least, fishy (while possibly perfectly legal).

But anyway, most transactions involve a disagreement on the risk of an asset, or on its true value, but in the case of financial assets it boils down to the same thing since there is no direct use. So it would not necessarily hamper any bona fide deal.

Earth provides enough to satisfy every man's need, but not every man's greed. Gandhi

by Cyrille (cyrillev domain yahoo.fr) on Tue Mar 5th, 2013 at 09:32:03 AM EST
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