Wednesday, March 18, 2009

Another one for the AIG bonfire

The US government was providing billions of dollars to Société Générale via the AIG credit default swap bailout during a period when the US Federal Reserve was not sure, and is still not entirely sure, that SocGen was complying with US money laundering provisions. If this was a crazy populist blog, we'd be claiming that this means that US taxpayer money could have been part of a money laundering enterprise. But this is a sedate and reflective blog so we won't.

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