Did are the insurers take excessive risk or were they incestuous with the banking/brokerage partners? If you ever get bored, go to the EDGAR website and look at see who actually owns all the financials ‘preferred stock’ … (will save you time — the insurers own a ton). Who owns the insurer stock and banking common stock? Let’s go one step further, who were the biggest buyers of the RMBS and CMBS that the Citi’s and Lehman’s were packaging up?  You guessed it, the insurers or should I say the so called “smart money”.

Last year Allianz infused over billion into HIG … oh how nice of them! I wonder how much HIG stock Allianz holds? 4.5 million shares as of 12/31. I wonder how much in HIG bonds PIMCO holds?

Who is managing the boat loads of toxic debt that you, the tax payer, now owns? You guessed it, the PIMCO’s of the world.

I wonder how many people at PIMCO share an alma mater with late, great GWB or our dear friend of capitalism, President Barack Obama?

Seems to be some sort of fraternity that us common folk have trouble getting into.

Systematic? Yah, I guess there is something very systematic about what’s going on.

Is it the difference between Pepsi and Coke or perhaps is it better to say Pepsi and Coke are both COLA.

As a bond trader this is positive, and an Austrian…