Add AIG to the leaky sieve list
Troubled insurer AIG doesn’t need more problems, but now it has them. One of the company’s offices was burglarized. The take? A computer with 930,000 personal data records. According to the report,...
View ArticleAIG Discloses “Weakness” in Derivative Accounting
It may take a few quarters, but you will be hearing a lot more of this. The credit derivatives market is just too big, and grew too fast, for anyone to have a really good handle on it.
View ArticleThe day after ‘Brown Monday’
After a chaotic weekend, Lehman filed for bankruptcy and Merrill sold itself to Bank of America. The Dow Jones Industrial Average plunged 504 points on the news (and roughly 20% of that loss occurred...
View ArticleFed to give AIG $85 billion loan and take 80% stake (UPDATED)
All things considered, it sounds more like an equity investment: In an extraordinary turn, the Federal Reserve agreed Tuesday night to take a nearly 80 percent stake in the troubled giant insurance...
View ArticleShort-selling rules back in play (UPDATED)
Bloomberg sayeth: The U.S. Securities and Exchange Commission stiffened rules against manipulative short-selling after a market rout pushed American International Group Inc. to the brink of collapse...
View ArticleOnly in America folks
From the comments section at Calculated Risk comes this summary regarding the Fed’s expansion of lending to AIG: Wait.. it goes like this… 1. AIG makes bad investments 2. Company execs make millions 3....
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AIG bonus meme roundup (UPDATED)
AIG, that (almost) wholly-owned subsidiary hedge fund of the US Government, announced that they were going to pay millions in retention bonuses to employees of their financial products (and other)...
View ArticleWhy don’t Fannie Mae and Freddie Mac set off public bonus rage?
Fannie Mae and Freddie Mac, those institutions of ‘higher standards’, are preparing to pay up to $210 million in retention bonuses: In a compensation program that has drawn angry protests from...
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