ΑΙG - Landesbank - Eλλάδα - CDSs

London investment bankers named the American insurer AIG as an additional seller of CDS. It had to be nationalised during the financial crisis, because it had sold default insurance on U.S. mortgage bonds. The burden would have led to the collapse of the once largest insurer in the world. Before the financial crisis, AIG is said to have insured a large amount of sovereign credit risk. If there is still a major insurance positions on Greece, then the American government would have a strong interest in preventing a default of the country.

Even if it just concerns market rumours with the Greek banks and AIG, the examples illustrate the weakness of the CDS market. The protection is sold by banks or insurers, which themselves have only limited capital resources. As a general rule, they also have a much lower credit rating than the countries whose default they are insuring. The insurance provided by CDS may turn out to have been a bubble.

πηγή: Die Fieberkurve der griechischen Schuldenkrise

τα ίδια και εδω: http://seekingalpha.com/article/189764-aig-the-main-cds-insurer-for-greek-government-debt

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ΡΕΖΟΥΜΕ:

Οι γερμανικές (ήδη χρεοκοπημένες από τα subprime) Landesbank είναι ανοικτές σε CDSs εγχώριων ομολόγων... Και συζητούν εάν εμπλέκεται η (χρεοκοπημένη) AIG...

Αν κάτι λένε αυτά...