At 06:09 PM 11/23/2009, you wrote: Memang itu resikonya punya sistem perbankan. Di sebelah kanan Balance Sheet isinya duit orang (dan duit bank lain), di sebelah kiri balance sheet isinya tagihan ke orang lain (dan juga bank lain).
Kanan keganggu -- repot Kiri keganggu -- repot juga. Dua-duanya sensitif terhadap suku bunga. Terlalu tinggi salah, terlalu rendah salah... Nggak punya sistem perbankan memang nggak akan terganggu -- tetapi harus siap lebih repot lagi dengan tidak adanya pertumbuhan ekonomi... > > >Monday,November 23, 2009 >THE WALL STREET JOURNAL | Opinion Journal > >AIG and Systemic Risk > >Geithner says credit-default swaps weren't the problem, after all. >TARP Inspector General Neil Barofsky keeps committing flagrant acts of >political transparency, which if nothing else ought to inform the debate >going forward over financial reform. In his latest bombshell, the IG >discloses that the New York Federal Reserve did not believe that AIG's >credit-default swap (CDS) counterparties posed a systemic financial risk. > >Hello? > >For the last year, the entire Beltway theory of the financial panic has >been based on the claim that the "opaque," unregulated CDS market had >forced the Fed to take over AIG and pay off its counterparties, lest the >system collapse. Yet we now learn from Mr. Barofsky that saving the >counterparties was not the reason for the bailout.
