Lehman - Aig - Only $6 Million?????

4:58 AM 10/22/2008
OK is it the end of the world or is it $6 million?

First the URL, then my notes from same interview.

http://cosmos.bcst.yahoo.com/up/player/popup/?rn=289004&cl=10316625&src=finance&ch=1316259


"1/2 a million; 1/2 a billion; 1/2 a trillion"

From yesterday:[CDS = Credit Default Swaps; market generally of $55 trillion; $360 billion of Lehman]
CDS Market RegulationFoxbusiness.com

Interview with Hampton Finer, Deputy Supt. NY Insur. Department
used to work for fmr NY Atty Gen Elliot Spitzer

So far we don't know of any of those [huge losses by sellers of protection].
AIG was a big directional player...sold a lot of Lehman CDS's
They are reporting $6.2 million in losses from the CDS's.
1/2 trillion CDS's of Lehman sold supposedly
Hartford was in this market. $50 million exposure. (i.e. no big deal)
won't know until end of the quarter
we don't who'se exposed. Whose hedged.
will not know until next summer.

not reported centrally. only a voluntary survey.


I have to think he's working with old numbers which have nothing to do with the present. But what a difference!