... in response to Re: Why don't you ask these guys, posted by wsbill on Dec 30, 2003I am curious. Privat Bank Ukraine, I believe, is not foreign owned as the Ukraine government is very careful about stealing only from their own people. What makes you think that AIG has anything to do with Privat Bank.
You mention you believe they are the underwriters which would make them the investment bankers. AIG does merchant banking but not investment banking to my knowledge and I hope I would know. The only other term that underwriter would apply to would be insurance and also in this case does not mean ownership but if they are underwriting the paper means that they could be at risk to cover any losses covered by thier contract.
Be careful to know how these contracts work before igniting any panic or further panic with people who could be potentially affected.
Let me give you an example. If AIG is underwriting insurance for Privat Banks depository accounts and Privat Bank is indeed in trouble due to absconding of funds from an officer, then AIG, a huge global insurer, will make all due and pursue the guilty party.
When I spoke with Anna about this today she said this happens all the time. There may be nothing to the charges but this man has made enough money in his position and therefore several other high ranking officials below him will start rumors to have him gone so they can move up the company ladder. Sound like the CIS? You bet.
My Anya is very intelligent and she knows her country also so I am betting that she is right. Everybody is fine but there needed to be a change in management for the sake of other people making money as well.
Happy New Year Everybody!!!
