Markets

GOSSIP: Today’s Wall Street Buzz in 60 Seconds

[credit provider=”AP”] MSNBC’s Keith Olbermann has been suspended indefinitely without pay from the cable network, for donating to democrats.Hedge fund titan Paul Tudor Jones is selling his 6,000 acre estate on the Chesapeake Bay for $30 million.
GOSSIP: Today’s Wall Street Buzz in 60 Seconds
Markets

AIG CEO Robert Benmosche Has Cancer

AIG just announced that its CEO Robert Benmosche — who has lead a turnaround that currently is surpassing expectations — has cancer. He’s not leaving the company. We wish him a speedy recovery.
AIG CEO Robert Benmosche Has Cancer
Markets

Gossip Grind: Today’s Wall Street Buzz in 60 Seconds

[credit provider=”The U.S. Army via Flickr” url=”http://www.flickr.com/photos/soldiersmediacenter/3311681802/”] Barclays Capital is beginning to cut some 400 back-office employees today, a source confirms with DealBook. The “routine” lay-offs are in BarCap’s operations and IT support staff.UBS‘ UK unit was sued for copying articles by an energy news publisher, and reprinting them word-for-word […]
Gossip Grind: Today’s Wall Street Buzz in 60 Seconds
Markets

ICP Asset Management Sued By SEC Over $11 Billion CDO Deal

[credit provider=”Michael Magro Foundation”] The SEC sued ICP Captial Management and its founder, Thomas Priore, for alleged mismanagement of an $11 billion CDO deal, according to the Wall Street Journal.The SEC lawsuit alleges Priore forced holders of the CDO Triaxx to buy bonds that helped ICP support itself in 2007 […]
ICP Asset Management Sued By SEC Over $11 Billion CDO Deal
Markets

AIG Stock Surging On rumours It Can Go After Goldman?

According to a tweet sent out by Zerohedge, insurer American International Group could have a legal claim against Goldman Sachs, hence the pop in the stock earlier and heavy volume around 11:00 AM. Right now, AIG is up 1% but could go higher as the day progresses and more news […]
AIG Stock Surging On rumours It Can Go After Goldman?
Markets

AIG Asset Sales Are Forcing Bankers To Miss Births, Weddings And Funerals

The banks working on the deals to sell some of AIG’s assets are profitting well off of AIG’s distressed situation.Because of the Prudential deal advisors (Blackstone, Goldman, Morgan Stanley and Citi), AIG was able to command ~over $30 billion for AIA, a much higher price than Prudential’s initial bid of […]
AIG Asset Sales Are Forcing Bankers To Miss Births, Weddings And Funerals
Markets

The Market’s Dogs Are Really Enjoying Today’s Rally

Pretty much any company that was a recipient of TARP money or filed for bankruptcy is kicking arse and taking names today. Shares of American International Group (AIG) are up 2.5% to $34.45 a share. Fannie and Freddie are both enjoying rock solid gains. Freddie Mac (FRE) is up 6.75% […]
The Market’s Dogs Are Really Enjoying Today’s Rally
Markets

AIG Continues To Shoot Skyward, Fannie And Freddie Still Soaring

No doubt the government continues to smile as its investments in AIG (AIG), Fannie (FNM), and Freddie (FRE) become more valuable. After posting double-digit gains yesterday, AIG (AIG) is back on a roll today, currently up 5.4% at $34.55 a share. Fannie Mae (FNM) is also climbing but those gains […]
AIG Continues To Shoot Skyward, Fannie And Freddie Still Soaring
Markets

Market Dogs Like AIG And Fannie Mae Go Nuts

Right around 1:00 PM EST, volume on AIG soared and the stock has shot up 12% to $32.94 a share. So far there’s no breaking news or particular cause for the sudden spike but we’ll keep our eyes peeled.
Market Dogs Like AIG And Fannie Mae Go Nuts
Markets

AIG Reaches Deal To Sell A Second Giant Oversees Unit

NEW YORK (AP) — American International Group will sell a second overseas life and health insurance unit for $15.5 billion to MetLife Inc. in an ongoing bid to repay billions in government aid. It was the second major deal AIG completed this month to raise cash. On March 1, AIG […]
AIG Reaches Deal To Sell A Second Giant Oversees Unit
Markets

Here’s The Untold Story Of How AIG Destroyed Itself

[credit provider=”commons.wikimedia.org” url=”http://commons.wikimedia.org”] [preserve] [/preserve] [preserve] [/preserve] The collapse of American International Group (AIG) was largely the result of a little understood investment strategy that allowed the insurance giant to make optimistic bets on the housing market and other asset classes without having to actually buy the bonds backed by […]
Here’s The Untold Story Of How AIG Destroyed Itself
Markets

AIG’s PineBridge Sale Delayed Again!

AIG just blew another deadline to sell the asset management unit known as PineBridge. The deal to sell Pinebridge for $500M to Pacific Century Group was originally scheduled to close at the end of 2009. In mid-December, PineBridge announced that the closing would be delayed until the end of January […]
AIG’s PineBridge Sale Delayed Again!
Markets

Prudential PLC Explores Bid For Asian Arm Of AIG

(AP) Prudential PLC, Britain’s largest life insurer, is exploring a bid for the Asian life-insurance arm of American International Group Inc., according to media reports Saturday. The Wall Street Journal, citing people familiar with the matter it did not name, reported a deal could come in a week. Prudential would […]
Prudential PLC Explores Bid For Asian Arm Of AIG
Markets

Two Women Sue AIG For Not Letting Them Be In The “Boys Club”

[credit provider=”AP”] Two women filed a lawsuit against AIG’s derivatives unit for promoting a “boy’s club” environment and not including them.According to Bloomberg, Susan Potter and Deonna Taylor claim AIG managers misled them about salary caps, paid younger and male employees more for similar work and then fired them in […]
Two Women Sue AIG For Not Letting Them Be In The “Boys Club”
News

In defence Of Geithner

Treasury Secretary Timothy Geithner was cross-examined yesterday by the House Oversight and Government Reform committee. The lawmakers could not understand why AIG (AIG) got $182 billion in taxpayer bailout cash.
In defence Of Geithner
Markets

AIG Counterparty Secrecy Finally Shattered!

Geithner and Co. have taken a lot of heat for withholding information regarding AIG, its derivatives counterparties and how much the associated payouts were in regard to collateral calls. No more. Below is the infamous “Schedule A” document in all its un-redacted glory.  Needless to say, the numbers will blow […]
AIG Counterparty Secrecy Finally Shattered!
Markets

Rep. Darrell Issa Delivers The Tim Geithner Knockout Blow

We are currently going through the recently released Special Report by Darrell Issa: “Public Disclosure As A Last Resort: How the Federal Reserve Fought to Cover Up the Details of the AIG Counterparties Bailout From the American People,” and a cursory perusal indicates that this could be proverbial end for […]
Rep. Darrell Issa Delivers The Tim Geithner Knockout Blow
Markets

Now Hank Paulson Is Being Called To Testify On AIG

New York Democrat and chairman of the House Oversight and Government Reform Committee, Edolphus Towns, has his sights set on Hank Paulson. Towns has invited former Treasury Secretary Paulson to testify on his role in orchestrating the controversial bailout of AIG. Whether or not Paulson will take him up on […]
Now Hank Paulson Is Being Called To Testify On AIG
Markets

The Case Against Tim Geithner

As we sit here today, Wall Street continues to exploit a policy of government-sponsored giveaways and secrecy to pay themselves billions.
The Case Against Tim Geithner
News

Geithner Must Go

The latest revelations about the New York Fed’s actions in the AIG bailout make one thing clear: Treasury Secretary Tim Geithner must go. 
Geithner Must Go
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