Monday, 17 October 2016

Crowdfest takes the biscuit by inviting AIG to discuss due diligence!

Yes thats right  - Crowdfest - yet another made up equity crowdfunding backslapping event, trying to paper over the now obvious flaws in the model, has gone one step further.

Mr Ling from AIG will be joining the usual suspects for a discussion on due diligence - something readers here will know we keep an eye on.

Maybe it is fitting that an industry that has such an appalling record of ignoring due diligence and disclaiming all responsibility for it afterwards, should include AIG in the UKCFA event's panel. 

After all, in 2008 we saw just how great AIG are at their own DD. CDS ago-go and many billions lost with the US government being forced to step in and buy 90% of what was left of the double gold plated blue chip, largest insurance company in the world. The lawsuits are still rumbling on.

Almost makes me sad to be missing it. Now if they could also get Fred the Shred..................... 

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