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From Kirsten Bischoff, Opalesque New York: In testimony before the House Oversight and Government Reform Committee on Thursday, former AIG Chairman Maurice Greenberg expressed his disagreement with the way the AIG bailout has been managed by the US government, and offered his opinion on how the firm went downhill so quickly.
While the US Government's focus on AIG bounces between exorbitant bonus payments and the sequence of events that led to the downfall of the firm, we may find ourselves rediscovering some of the industry voices which questioned AIG's portfolio well before its problems came to light to the larger public. One such voice belongs to Janet Tavakoli, President of Chicago-based firm Tavakoli Structured Finance and author of "Dear Mr. Buffett: What an Investor Learns 1,269 Miles from Wall Street."
Tavakoli's book begins detailing the correspondence with Warren Buffett that led to a meeting at Berkshire Hathaway's Omaha office and an ongoing dialogue between the two. As Tavakoli says in the book's preface, her meeting with Buffet changed the way she invested. "I already knew the principles, but meeting Warren encouraged me to think about all financial products in a Benjamin Graham-style framework."
"Dear Mr. Buffett" may start out detailing a once in a lifetime opportunity to meet and learn from "the oracle of Omaha", but it quickly becomes ...................... To view our full article Click here
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