Unwinding at AIG Prompts Pasciucco to Ponder Systemic Failur, Bloomberg
related items:
Michael Lewis article on AIGFP
related items:
Michael Lewis article on AIGFP
Mahalanobis - am 2009-07-02 17:59
Kev (guest) meinte am 2. Jul, 19:41:
Crappy Bloomberg
The Bloomberg links never work due to their stupid (or purposeful...) HTML adressing scheme which includes Session ID and other user dependent data, even a link from a Google search is rotten.
Mahalanobis antwortete am 2. Jul, 20:56:
Vega
But don't miss the article, it has some really good quotes:
Pasciucco’s first goal when he took over AIGFP was to exit the riskiest trades. He points to the portfolio’s gross vega, a measure of risk that in its simplest application gauges the dollar impact of an increase in volatility [by 1%]. Vega, Pasciucco explains, was down 38 percent as of May 12, to $770 million from $1.25 billion.Helmut Elsner, Jérôme Kerviel, Joe Cassano... it's always those (former) back office guys who mess it up ;-D.
Steven (guest) meinte am 16. Aug, 14:07:
More on AIG?
I recently came across this article at EME (http://www.emeconomy.com/&mod=search&searchWords=cassano&st_id_search=97278&time=0⊂=1) that really explains AIG's current situation pretty well. I figured you would be interested in it.
