curiouscapitalist.blogs.time.com - 3/3/2009
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Proponents of the nationalization of troubled big banking companies like Citigroup generally make the case that the work should be done with dispatch and the banks returned promptly to private hands. But the test case for nationalization, AIG, is demonstrating that it may not be that easy. When ...
curiouscapitalist.blogs.time.com - 3/9/2009
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curiouscapitalist.blogs.time.com —
FDIC chairman Sheila Bair doesn't think a full
government takeover of Citigroup and other multinational financial institutions...
is practical or even possible. Here are her reasons, as summarized by Pete Davis : 1. The legal authority to take over large ...
(more)
How much of Citigroup could the FDIC actually take over? ...
talkingpointsmemo.com - 3/5/2009
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talkingpointsmemo.com —
As reported earlier today, AIG -- which is
already 80% owned by the US government -- is...
poised to go back to the government trough for more money. (Remember, we've already committed roughly $150 billion to AIG.) So I want to come back again ...
(more)
Back To AIG
calculatedriskblog.com - 3/1/2009
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calculatedriskblog.com —
Note: For the grim economics news in graphs,
please see my post yesterday: February Economic Summary in...
Graphs First a repeat of Eric's great AIG cartoon! Click on cartoon for larger image in new window. Cartoon from Eric G. Lewis From the ...
(more)
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AIG, Fraud
The Daily Dish | By Andrew Sullivan —
AIG lost $465,421 a minute last quarter. Justin Fox explains why the company is in such bad shape: Essentially, AIG got into the business of insuring much of the world's financial system against the consequences of a global financial meltdown. It turned out to be incapable of delivering on that insurance—no private company could deliver on it, which is one reason why AIG's business of selling credit default swaps was a scam. And so government has stepped in as the ultimate insurer. Yglesias fumes: The whole ...
A.I.G.: Rage Against the Machine
Opinionator —
... plans at an inflated price” of $54.37 a share. As of midday today a share of A.I.G. is going for roughly 45 cents. Are you feeling sorry for him yet? Ben Bernake isn’t. In Congressional testimony today Bernake said that no other incident during the crisis had made him . The company “made huge numbers of irresponsible bets, took huge losses, there was no regulatory oversight because there was a gap in the system,” Bernanke said. Want another word for “irresponsible bets?” At Time, Justin Fox offers “scam” : AIG got into the business of insuring much of the world’s financial ...
Related Content
Citigroup Wants a Bigger Bailout
truthdig.com 2/23/2009 — Uncle Sam already gave Citigroup $45 billion and is on the hook for $300 billion more, but executives at the troubled bank are reportedly in talks to sweeten the deal. One scheme has the government exchanging preferred stock for common stock.
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A Bigger Bailout
opinionator.blogs.nytimes.com 11/10/2008 — The government deems its $123 billion bailout of AIG too modest.
The Black Hole Gets Bigger: AIG Back for Yet Another Bailout
nakedcapitalism.com 11/8/2008 — The Financial Times reports that AIG is up to its old tricks, back again to the trough for more money. Christmas The Iceland credit default swaps settlement is coming soon, you know. The worst is that AIG is pretending to act as if this is a ...
Employment: Worst since 1974-1975 :: The Curious Capitalist
curiouscapitalist.blogs.time.com 2/7/2009 — Barbara's working on a piece for TIME.com about today's nasty unemployment report, which we'll link to when it's up. ( Update : Here it is .) As always, I'm frustrated with all the reporters and Wall Street economists who look at the payroll ...
AIG
yglesias.thinkprogress.org 3/19/2009 — Maybe this is stupid, but couldn’t the administration just . . . not pay the AIG bonuses? As in, rather than direct Tim Geithner to find a way to not pay them, just order AIG to not pay them. Order first. Let the AIGsters sue. Then while the ...
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