Claiming that AIG was “well-regulated” because it technically had 50 state insurance regulators is absurd. State ins regulators were then and remain today wholly unequipped to assess securities lending. State regulators, except for NY, are rubber stampers of rate filings and licenses-that’s it. They are not equipped to do more. The solvency regime run by the Naic was then 20 years out of date. It’s been since modestly updated but is still a joke.
Informative overview. I worked for Indymac Bank, another victim of the fallout and one where a CA member of the Office of Thrift Supervision was involved in IMB's demise.
Claiming that AIG was “well-regulated” because it technically had 50 state insurance regulators is absurd. State ins regulators were then and remain today wholly unequipped to assess securities lending. State regulators, except for NY, are rubber stampers of rate filings and licenses-that’s it. They are not equipped to do more. The solvency regime run by the Naic was then 20 years out of date. It’s been since modestly updated but is still a joke.
hi I was wondering if you could give a general concise overview of this video, please. I'm trying to better understand the failure of AIG.
Sydney Kito gladly hi 😍
Informative overview. I worked for Indymac Bank, another victim of the fallout and one where a CA member of the Office of Thrift Supervision was involved in IMB's demise.
Hahaha