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Letting AIG fail



Making counterparties on the company's derivative deals take a haircut (as would happen in a failure) would not have to mean leaving policyholders without insurance (the conventional insurance divisions are solvent and under no obligation to the derivative counterparties). Lucien Bebchuk and Larry Ribstein, who disagree on many other matters, seem to be in accord on this one.

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Isaac Gorodetski
Project Manager,
Center for Legal Policy at the
Manhattan Institute
igorodetski@manhattan-institute.org

Katherine Lazarski
Press Officer,
Manhattan Institute
klazarski@manhattan-institute.org

 

Published by the Manhattan Institute

The Manhattan Insitute's Center for Legal Policy.