Strategy

The 14 Best Exit Letters Of All Time

[credit provider=”Michael Seto / BI”] Groupon’s Andrew Mason released a very honest exit letter yesterday after getting fired as CEO, where he talked about weight gain and Battletoads.He began the letter by saying, “I’ve decided that I’d like to spend more time with my family. Just kidding — I was […]
The 14 Best Exit Letters Of All Time
Markets

Hedge Funds Are Loving This

We recently learned that the hedge fund industry’s new favourite stock is AIG, the beleaguered insurance behemoth that was at the centre of the financial crisis.
Hedge Funds Are Loving This
News

10 Brands With Huge Credibility Issues In 2013

[credit provider=”2st Century” url=”http://www.21st.com/landing-pages/en/autopay-lp.jsp”] It’s no secret that brands like Coca-Cola, Apple, and Google had a great 2012 and are poised for an even greater 2013. Not all companies are held in such high regard going into the new year, though.We talked to CoreBrand, which measures the familiarity and favorability […]
10 Brands With Huge Credibility Issues In 2013
News

AIG Sues The New York Fed

NEW YORK (Reuters) – American International Group Inc has filed a lawsuit against a vehicle created by the Federal Reserve Bank of New York to help bail out the insurer, in a bid to preserve its right to sue Bank of America Corp and other issuers of mortgage debt that […]
AIG Sues The New York Fed
Markets

Why AIG Says It HAS To Consider Suing The Government

Jan. 9 (Bloomberg) — American International Group Inc. said it has a duty to weigh joining a suit by former Chief Executive Officer Maurice “Hank” Greenberg that claims the insurer’s 2008 U.S. bailout was unconstitutional.
Why AIG Says It HAS To Consider Suing The Government
Markets

Two More Congressmen Have Totally Flipped Out About A Potential AIG Suit Against The US

[credit provider=”Wikimedia Commons” url=”http://commons.wikimedia.org/wiki/File:US_Navy_110211-N-6320L-848_Stand-up_comedian_Gallagher_smashes_a_cake_for_Sailors_aboard_the_Nimitz-class_aircraft_carrier_USS_Carl_Vinson_%28CVN_70%29.jpg”] Congressional Democrats Frank Capuano (MA) and Peter Welch (VT) have sent the loudest message to AIG’s board yet, The Hill reports.The insurance company just paid back $182 billion worth of taxpayer bailout money it received throughout the financial crisis. AIG was bailed out in 2008 because […]
Two More Congressmen Have Totally Flipped Out About A Potential AIG Suit Against The US
Markets

Senator Elizabeth Warren Is Outraged That AIG Is Considering Suing The US Government

[credit provider=”Wikimedia/Twp” url=”http://commons.wikimedia.org/wiki/File:Elizabeth_Warren_Nov_2_2012.jpg”] Elizabeth Warren, one of the newest members of the Senate Banking Committee, is sending around a statement about the news that AIG’s board will consider whether or not to sue the U.S. government tomorrow.Warren is known (and maybe feared) for being a major critic of financial institutions […]
Senator Elizabeth Warren Is Outraged That AIG Is Considering Suing The US Government
Markets

The Five Hedge Funds With The Biggest Stake In AIG

[credit provider=”screenshot via Jewish Enrichment centre” url=”http://jeconline.com/media/video/dan-loeb”] The Treasury Department said that it has agreed to sell the last of its AIG common stock and has received a positive return on its AIG commitment of $22.7 billion.Shares of AIG were last trading up more than 4.5%.
The Five Hedge Funds With The Biggest Stake In AIG
Strategy

AIG CEO: ‘You’re Not Sure Whether I’m a Bull In A China Shop Or Not, But You Know I’m A Bull’

[credit provider=”ReutersTV/YouTube” url=”http://www.youtube.com/watch?v=8VuI5a0w2xo&feature=plcp”] AIG CEO Robert Benmosche is nothing if not outspoken. In a recent profile in New York Magazine, he argued that the government should be thanking him and his company for its comeback after a massive bailout and described a rather unique marriage. In an interview with former UBS CEO […]
AIG CEO: ‘You’re Not Sure Whether I’m a Bull In A China Shop Or Not, But You Know I’m A Bull’
Markets

AIG CEO Bob Benmosche Has One Of The Most Interesting Marriage Arrangements We’ve Ever Heard Of

[credit provider=”CNBC” url=”http://thumbnails.cnbc.com/VCPS/Y2012/M05D03/3000088158/5ED2-CB-RobertBenmosche.jpg”] In this week’s issue of New York Magazine, Jessica Pressler spends pages and pages flushing out the world of colourful AIG CEO and saviour , Bob Benmosche.Benmosche lives on a Croatian vineyard, cusses at rooms full of people, and has threatened to quit his job (a stressful […]
AIG CEO Bob Benmosche Has One Of The Most Interesting Marriage Arrangements We’ve Ever Heard Of
News

This Is AIG’s New Corporate Logo

American International Group, Inc. (AIG), the international insurer that was bailed out by the U.S. government during the economic collapse in 2008, is refreshing its logo as part of a larger rebranding effort.
This Is AIG’s New Corporate Logo
Markets

The American Taxpayer Is Earning A Huge Profit On AIG

[credit provider=”AP Images” url=”http://www.apimages.com/secured_user/Download.aspx?st=dl&id=b75368f09b014697af8d7f5553ee1b84&isgb=false”] Sept. 11 (Bloomberg) — American International Group Inc. shares valued at $18 billion were sold by the U.S. government, converting a four-year bailout into a profit for taxpayers.The U.S. sold about 553.8 million shares at $32.50 apiece, the Treasury Department said yesterday in a statement. The […]
The American Taxpayer Is Earning A Huge Profit On AIG
Markets

Wall Street’s Pay Czar Had A Hilarious Flip-Out When Investigated For Conflicts Of Interest

[credit provider=”wikimedia commons” url=”http://en.wikipedia.org/wiki/File:Avvakum_by_Myasoyedov.jpeg”] We know that during the financial crisis, “pay czar” Kenneth Feinberg had to figure out how insitutions that had accepted loads of tax payer money would compensate their executives.The point of having a czar was to put a cap on comp, and Feinberg who had handled […]
Wall Street’s Pay Czar Had A Hilarious Flip-Out When Investigated For Conflicts Of Interest
Markets

90% Bonus Tax Fear and Loathing At Merrill Lynch

A few days ago brokers at Merrill Lynch were saying a quiet thanks that public attention had turned to the bonuses at AIG, taking focus away from the bonuses that had been paid at their firm last December. “Their pain is our gain,” one Merrill vet told me. In the […]
90% Bonus Tax Fear and Loathing At Merrill Lynch
Markets

AIG’s Tone Deafness

Brian Montopoli of CBS’s Econwatch says we shouldn’t be shedding any tears for Jake DeSantis, the AIG guy whose resignation letter ran in the New York Times today.
AIG’s Tone Deafness
Markets

AIG: We Put Out The Fire In The French Bank

AIG just released a statement explaining that the two executives who resigned from its French bank will remain in their roles until an orderly transition to new senior managemers can be undertaken. That presumably means one that doesn’t involve French banking regulators appointing officers, triggering CDS defaults and hammering European […]
AIG: We Put Out The Fire In The French Bank
News

VOTE! Who Deserves A Hug?

Yesterday we asked “Who Ought To Be Knocked Out?” So far, Jim Cramer is up in the poll by a wide margin. The booth is still open for voting, so go cast a vote.
VOTE! Who Deserves A Hug?
Strategy

The 13 Best Resignation Letters Of All Time

[credit provider=”NostalgiaAVGNfan via YouTube” url=”http://www.youtube.com/watch?feature=player_embedded&v=pZ-Sy11mvZU”] Goldman Sachs former executive Greg Smith’s op-ed piece in the NYT on Wednesday caused more than a stir, but he’s not the only person to publicly make a fuss when resigning. He’s not even the first banking executive to quit using the NYT’s op-ed page. 
The 13 Best Resignation Letters Of All Time
Markets

The 10 Big Stories You Probably Missed This Week

[credit provider=”Associated Press”] Don’t blame yourself if you missed a few key things this week. Even with one eye on CNBC and the other on your Bloomberg terminal, it’s likely you’d only remember the details emerging from Greece and MF Global.But economic data in the U.S. gave investors some hope, […]
The 10 Big Stories You Probably Missed This Week
Markets

Bank of America’s Lawyers Knew AIG Was Ready To Sue For $10 Billion 6 Months Ago

[credit provider=”Dopey Cowboy” url=”http://thedopeycowboy.com/members/?p=11976″] Bank of America’s lawyers were aware that AIG was prepared to file a $10 billion lawsuit against the institution as early as 7 months before its filing, Reuters reports.Bank of America made no mention of the suit in its quarterly SEC filing, which was released on […]
Bank of America’s Lawyers Knew AIG Was Ready To Sue For $10 Billion 6 Months Ago
US

Roddy Boyd: AIG Is Not As Clean As The Government Thinks

Roddy Boyd — the Financial Investigator and the author of Fatal Risk — tackles AIG’s failure in his new book. Painting a history of the insurance company from the rise of Hank Greenberg to today, he investigates the complex series of events that led to its downfall.
Roddy Boyd: AIG Is Not As Clean As The Government Thinks
Markets

Credit Default Swaps Are Once Again At The centre Of Financial Crisis

[credit provider=”AP”] Three years ago, I told you that Wall Street’s newest invention—credit default swaps—would cause a major financial crash.Now, I’ll concede that credit default swaps (CDS) weren’t the only cause of the financial meltdown that brought about the collapse of Lehman Brothers Holdings (OTC: LEHMQ) and nearly brought down […]
Credit Default Swaps Are Once Again At The centre Of Financial Crisis
Markets

Fatal Risk: The Must-Read Story Of AIG’s Downfall

There are dozens of books on the financial crisis: I have read many of them and the Kindle samples for just about all of them. There are only two I would recommend: those are Bethany McLean and Joe Nocera’s excellent All the Devils are Here and the much more specifically detailed […]
Fatal Risk: The Must-Read Story Of AIG’s Downfall
Markets

AIG Just Poached The Morgan Stanley “Tennis Legend” Who Advised The Government On “AIG-Related Issues”

[credit provider=”NYSD” url=”http://www.newyorksocialdiary.com/node/1902777/print”] AIG announced yesterday it had tapped Morgan Stanley man, Peter Juhas, as Head of Strategic Planning.Juhas was a Managing Director at Morgan, who specialised in insurance and diversified financial companies, and for the past three years, he’s been the lead adviser to the New York Fed and […]
AIG Just Poached The Morgan Stanley “Tennis Legend” Who Advised The Government On “AIG-Related Issues”
Markets

AIG Appoints New Head Of IR

AIG has appointed Elizabeth Werner as its new head of IR as the insurance giant seeks to strengthen its relationship with the investment community. Prior to joining AIG, Werner was a director at Bank of America Merrill Lynch, where she focused on insurance stocks and REITs. She will report to […]
Markets

GOSSIP: Today’s Wall Street Buzz in 60 Seconds

[credit provider=”Wikimedia Commons” url=”http://commons.wikimedia.org/wiki/File:LG_JSOSPP7061102.jpg”] Someone tells us that a lot of people are decamping from Deutsche Bank after they heard bonus news. Perhaps that’s why their head of CDS trading and e-trading, Sean George, is going to Jeffries.Hedge funds increased their net leverage in January to the highest level since […]
GOSSIP: Today’s Wall Street Buzz in 60 Seconds
Markets

AIG Ended Up Having To Pay Millions For The Duke Lacrosse Stripper Lawsuit

AIG ended up having to pay part of the multi-million settlements that Duke University paid to the three lacrosse stars who were accused of raping a stripper the team had hired for one of their parties, Crystal Gail Mangum, back in 2006.Duke suspended the three accused students, Reade Seligmann, Collin Finnerty, and David […]
AIG Ended Up Having To Pay Millions For The Duke Lacrosse Stripper Lawsuit
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