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Posts Tagged ‘ Aig ’
Why the Fed’s Latest Rescue Effort is Doomed
World markets got a nice tailwind yesterday (Wednesday) on news that the U.S. Federal Reserve is stepping into the fray along with other central banks to boost liquidity and support the global economy.
Of course it's nice to see stocks get a hefty boost, but to...
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Woman Jailed for Food Stamp Fraud, Wall Street Fraudsters Get Bailouts
Had a quick piece of news I wanted to call attention to, in light of the recent developments at Zuccotti Park. For all of those who say the protesters have it wrong, and don’t really have a cause worth causing public unrest over, consider this ...
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The Goldman Rule: Don’t Let This Puppet Master Pull Your Strings
Goldman Sachs Group Inc. (NYSE: GS) Chief Executive Officer Lloyd Blankfein was really on a roll speaking at an investment conference in New York last week.
Among other things, he said there's no way we can conclude that a slowdown in banking and trading businesses is "secular, rather...
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The Inside Story of How Our Financial Regulators Let Us All Down
Did you hear the story about MF Global?
No, not the headlines about its bankruptcy - the real story.
If you haven't heard it yet, it goes something like this.
MF Global became a primary dealer only eight months ago.
"Primary dealer" is an elite...
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Energy and Materials Will Ride High This Earnings Season… but 2012 is Another Story
The hottest sectors for the third-quarter earnings season, Energy and Materials, should stay on their winning streak through the next quarter, but will get hit by lagging demand from emerging markets in 2012.
The two sectors will report the best results in an earnings season expected to see...
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Avoid Financials: Bank Earnings Are Set to Slide
Flat or falling revenue will plague major bank earnings as second-quarter results are reported this week - delivering yet another blow to battered financial stocks.
Most of the big banks are expected to report a profit, but a falloff in equity trading volume, weak demand for loans, and...
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Does the Eurozone Have Its Own Lehman Bros?
Does the Eurozone have its own American International Group Inc. (NYSE: AIG), or worse, its own Lehman Bros. when it comes to Greece?
I believe it does.
Why else would the European Union have bent over backwards to "save" a member nation that: A) Accounts for 2.01%...
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Credit Default Swaps: Why Washington Ignored Our Warning
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 ...
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America for Sale: Liquidate Assets to Avert Debt Ceiling Crisis, Republicans Say
It would be the greatest garage sale in history.
The United States Treasury possesses 261.5 million ounces of gold, worth about $392.25 billion at current prices.
Some in Washington say the time has come to sell some of its gold, along with other government assets such...
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Irish Eyes are Smiling: Bail in Rather than Bail out
Greece is not the real story. Europe is like a cancer patient being debilitated by an infection called Greece, among others that are worse. Greece alone may not bring Europe down. After the EU via the Corrupt 3 mechanism ( the Fed, ECB and IMF) is further weakened by “shock and awe” treatment of the...
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Buy, Sell or Hold: El Paso Corp. (NYSE: EP) Spin-Offs Will Unlock Profits for Investors
You may be surprised to learn that there's still an energy company out there that's undervalued by the market.
It's a natural gas company that has two divisions, which makes it difficult to appraise.
I'm talking about El Paso Corp. (NYSE: EP).
Some...
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IPO Market Perking Up, But Still Not Ready to Party Like It’s 1999
LinkedIn Corp.'s (NYSE: LNKD) initial public offering (IPO) generated a great deal of excitement by surging 109% on its first day of trading.
In fact, the IPO market as a whole is looking its healthiest in years.
There were 69 IPOs through...
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Buy, Sell or Hold: American International Group Inc. (NYSE: AIG) Is Not Worth the Risk
American International Group Inc. (NYSE: AIG) provides insurance services to an international market place. In 2008, the company was bailed out of its positions by the U.S. government, which owned 92% of AIG at its peak.
AIG last week priced new equity, allowing the government...
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Justice Department Sues Deutsche Bank AG (NYSE: DB) for ‘Reckless Lending’
The U.S. Department of Justice filed a lawsuit Tuesday accusing Deutsche Bank AG (NYSE: DB) of "reckless lending practices" when recommending loans to be insured by the Federal Housing Administration (FHA).
The suit seeks damages of more than $1 billion.
Deutsche Bank and...
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Fed records show their biggest emergency borrower, in 12/2008, was none other than Goldman Sachs
link
Excerpt:
By the middle of the next month, the biggest user was Goldman, the Wall Street titan that got $5 billion in assistance from Warren Buffett at the height of the crisis in September and was a big beneficiary of the AIG (AIG) bailout that ...
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No real doubt as to why Irish bailout put in place
Damning evidence of what is going on with bailouts is around the 1 minute mark of this short video from Alan Kohler.
Compares the market's response to the Greek bailout on their debt spreads pre and post bailout and the implication of what to expect f...
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Ambac, CDS and Geithner: It’s AIG All Over Again
Ambac, CDS and Geithner: It's AIG All Over Again
"This week in The Institutional Risk Analyst, we return to the financial travails of Ambac Financial Group ("AFG"), which recently filed bankruptcy after several years of twisting in the wind due to ...
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Goldman Sucks Banking Branches For The Little Guy
Somehow this one got lost in between Lloyd Blankminds butt crack when GS cornered some TARP money during the 2008 financial crisis. Most assume Goldman Sucks was effectively bailed by our government wiping out their losses to AIG which would have lik...
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AIG bonds outperforming gold
Longtime readers here may remember that I bought AIG bonds in November of 2008, right after the government bailout, at 59.
Just sold them today - at 100.60 (103, including accrued interest) If you include the 2years worth of interest, it was almost ...
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Crazy Not To Feel Crazy- Professional Edition
The market continues to frustrate bears and make bulls supremely confident. That’s often a recipe for a negative surprise. At this point there’s little sign of one. Of course if there was, it wouldn’t be a surprise. For sure, many charts are on the razor’s edge. So nothing would be a surprise. Confused? Welcome...
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Classical Economic Theory: AIG Capitalism
AIG Venture Capitalism
You have two cows. You sell three of them to your publicly listed company, using letters of credit opened by your brother-in-law at the bank, then execute a debt/equity swap with an associated general offer so that you get all four cows back, with a tax exemption for five...
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Hey! Where’s My $10 Billion! Professional Edition Fed Report
That question arose from the fact that that amount disappeared from the Fed’s balance sheet last week in the line items covering loans to and equity investments in the broken AIG. The Fed’s balance sheet as it pertains to custodial accounts for FCBs also makes clear why the Fed was forced to announce yesterday...
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Fed Expands Broken AIG Facility – Professional Edition
The Fed started the day with these chilling words before most of us were awake: The Federal Reserve Board and the U.S. Treasury on Monday announced the restructuring of the government’s financial support to the American International Group (AIG) in order to keep the company strong and facilitate its ability to complete its restructuring...
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