Wall Street Manna

An irreverent look at Wall Street

Friday, August 21, 2009

Anyone want an AIG Fraud Safe Guard policy?

AIG is denying coverage, for the Madoff victims, even though they had the AIG fraud protection policy.

They didn't understand that if your name isn't Goldman, and you don't have billions of dollars, then you don't get paid from AIG.

The public doesn't!

Horowitz v. AIG, U.S. District Court, Southern District of New York (Manhattan), No. 09-7312.

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