According to the Wall Street Journal, AIG's Financial Products Division has indicated that it expects to have completely closed out its CDS exposure by the end of the year. As this division is largely responsible for the problems at the insurer, it's encouraging that we only have another six or so months of hand-wringing over this insanity.The article goes on to discuss the ongoing question of whether they will be able to retain the personnel who got the company (and the American taxpayer) into this crisis. The logic is that they will be needed to unwind the complex web of obligations they've created. While I don't know the answer to this question, it seems to me that given the process of terminating the contracts seems fairly straightforward and their "expertise" isn't exactly required. Is there something I'm missing here?
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