"I have a mind like a steel... uh... thingy." Patrick Logan's weblog.

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Thursday, October 30, 2008

AIG - Where did the cash go?

"Regulators are now looking into whether AIG knew it was coming in for
major losses months ago -- losses that weren't apparent on the
company's balance sheet."

http://www.npr.org/blogs/money/2008/10/tracking_aigs_bailout.html

Um. Gee. Yes. Hey, regulators, there's this thing that's been around a
while now called "off-balance sheet" items.

http://en.wikipedia.org/wiki/Off-balance-sheet

Companies have been pushing the limits on those for years. AIG is just
one of the more extreme examples.

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About Me

Portland, Oregon, United States
I'm usually writing from my favorite location on the planet, the pacific northwest of the u.s. I write for myself only and unless otherwise specified my posts here should not be taken as representing an official position of my employer. Contact me at my gee mail account, username patrickdlogan.