AIG Waiver Backdated to the Garden of Eden


Felix Salmon digs up an interesting morsel in the AIG waiver: It releases CDS counterparties like Goldman Sachs from any claims dating all the way back to “the beginning of the world.” It’s unclear whether that is 4.54 billion years ago, when the Earth was formed, or 13.75 billion years ago, when the entire universe came into being. Pretty sloppy, lawyers!