Here’s an item that should at least provide fodder to Zero Hedge and Matt Taibbi. The Wall Street Journal calculates that Wall Street firms stand to collect about $1 billion in fees from the Fed and AIG for services they provide in restructuring the company. Wall Street banks and lawyers could collect nearly $1 billion […]
Posts Tagged ‘AIG’
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More Money Laundering By AIG?
Posted by Tom Lindmark on March 29th, 2009
The blogosphere is buzzing about a post on Zero Hedge. The author posits that the reason the big banks were bragging about their January and February profits was that AIG was cutting sweetheart deals with them on their mutual CDS deals. Lots of rumors and innuendos here, so it’s probably best to wait until some […]
AIG Execs Coerced Into Forfeiting Bonuses
Posted by Tom Lindmark on March 24th, 2009
CNBC reports that the AIG bonuses were returned under duress. The network has received a copy of an email that was sent to the recipients of the bonuses. Here is what they have up: “Please be aware that we have received assurances from Attorney General Cuomo that no names will be released by his office […]
AIG: Is There No End?
Posted by Tom Lindmark on March 23rd, 2009
It’s late, I’m tired and I wish I hadn’t noticed this from the WSJ. But trooper that I am, here is some news that should stoke the fires in Congress. It seems that AIGFP structured tax deals to help banks avoid some taxes in their home countries. Naturally, these are the same banks that were […]
Administration Tries To Tone Down The AIG Bonus Rhetoric
Posted by Tom Lindmark on March 22nd, 2009
Looks like the Obama administration is trying to find a way out of the AIG bonus/confiscate mess. Jered Bernstein, Biden’s economic adviser, said this morning that the House bill may go too far. “I think the president would be concerned that this bill may have some problems in going too far — the House bill […]
Compensation Regulation: Where Do We Stop?
Posted by Tom Lindmark on March 21st, 2009
I haven’t sermonized about the AIG bonuses, not because I don’t have an opinion but primarily because reasonable discourse has been overwhelmed by emotion and demagoguery. I am going to stick a toe just a bit into the swamp in order to tackle a larger issue. One could argue the rational for paying bonuses to […]
Goldman Divulges A Bit More About Its AIG Exposure
Posted by Tom Lindmark on March 20th, 2009
Goldman continues to maintain that it has fully hedged its risk with AIG. The company also disclosed that it declined to settle any outstanding trades with the insurer at a discount. David Viniar, Goldman’s CFO, said that the firm felt no compunction to act any differently than what was called for under the terms of […]
