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September 21, 2009

AIG Letter on CDS Shows Transfer and Subrogation

3 Comments / CDO, currency, Eviction, foreclosure, GTC | Honor, Investor, Mortgage / By

In November of 2008, AIG answered a request from the SEC that requird them to explain the inner workings of Credit Default Swaps. While they appear to have finessed certain issues, this is the clearest glimpse of how it worked. There are several classes of transactions but each of them involves some “delivery” of the …

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Where Has All the Money Gone – Short Time Passing

8 Comments / bubble, CDO, currency, Eviction, foreclosure, GTC | Honor, Investor, Mortgage / By

The Reno Class Action attorneys and others, including Elizabeth Warren, Chairwomen of the Congressional Oversight Committee, want to know where this money went, whether it satisfied obligations, and whether the obligations satisfied inure to the benefit of homeowners who purchased loan products from a Ponzi securitization scheme or otherwise. $13 trillion in mortgages were issued …

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