Jeanmarie McFadden, a Morgan Stanley spokeswoman, said that the bank's exposure to Dexia was immaterial and that Morgan Stanley had received adequate collateral to cover it.
Goldman assured investors that its exposure to A.I.G. was immaterial, but jittery investors and clients pulled out of the firm, nervous that stand-alone investment banks — even one as esteemed as Goldman — might not survive.
Goldman has said repeatedly that its exposure to A.I.G. was "immaterial" and that the $20 billion was hedged so completely that it would have insulated the firm from significant losses.
In a statement, Credit Suisse, which lent close to $1.1 billion to BTA, the most of any bank, said its current exposure to BTA was immaterial to its financial condition and that "all transactions with BTA went through established due diligence procedures".
In September 2008, David Viniar, CFO of Goldman Sachs, said Goldman's exposure to AIG was "immaterial whatever the outcome at AIG".
Goldman has said all along that its exposure to A.I.G.'s troubles was immaterial because of outside hedges that would have protected it.
Owing to combined mechanisms of health selection (disadvantaged health restricts labour market participation and increases risk of job loss) and social causation (exposure to involuntary joblessness and its material and immaterial disadvantages have a negative effect on health), we expect a selection of SIM with disadvantaged human capital, health and addiction problems.
"Our credit exposure to private prison companies has decreased to an immaterial amount in recent years and we continue to reduce our exposure given the risk characteristics of this industry," said Dana Ripley, U.S. Bank spokesman.
Today, EDS senior executives held a conference call to defend its accounting, which the firm says is completely transparent, and to reiterate that its exposure to WorldCom even in a worst-case scenario is immaterial.
