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Morning Morsel
upsidetrader.com — Gold is at more new highs, it has had about two down days in twenty. The ADP... employment number is out at 8:15 and the Fed’s Beige Book is out this afternoon. Fritz Peterson is out and GM, they... (more) Morning Morsel
“The Fed, Treasury, and AIG”
hf-implode.com — "The Fed has recently come under heavy criticism, largely for its role in the AIG bailout. The... Fed deserves criticism for decisions it made in the run-up to the crisis as well as for the role it played in the AIG bailout. However, some of the charges are misdirected and the suggested remedies ... (more) “The Fed, Treasury, and AIG”
Top Day Trader Alerts (AIG, GES, HGSI, NLST, SEED, FEED)
247wallst.com — These are this Tuesday’s top pre-market day trader and active trader alert stocks. We have more detailed... volume and price data and analysis on each stock with a link to VSInvestor.com: American International Group, Inc. (NYSE: AIG) is up over ... (more) Top Day Trader Alerts (AIG, GES, HGSI, NLST, SEED, FEED)
AIG Put Surge
AIG Put Surge
dailyoptionsreport.com — Some trades from yesterday, courtesy of Cuttone and Company. In Sun Microsystems (JAVA) , the Dec 7... puts were bought 50,000 times for $.06 to sell 20,000 Dec 8 puts @ $.10.  This is basically an insurance policy on the deal breaking. If ... (more) AIG Put Surge
AIG Plays Take-Back After Yesterday (AIG)
vsinvestor.com — American International Group, Inc. (NYSE: AIG) is recovering handily after yesterday’s analyst $12 call. The company is... moving forward with its ALICO separation. It has also entered into a debt-for-equity swap with the New York Fed which may ... (more) AIG Plays Take-Back After Yesterday (AIG)
AIG Settles Greenberg Disputes, May Reimburse $150 Million Fees
AIG Settles Greenberg Disputes, May Reimburse $150 Million Fees
bloomberg.com — Nov. 26 (Bloomberg) -- American International Group Inc. , the insurer bailed out by the U.S., agreed... to settle all legal disputes with former Chief Executive Officer Maurice “Hank” Greenberg and may reimburse as much as $150 million in fees. A ... (more) AIG Settles Greenberg Disputes, May Reimburse $150 ...
Bid nears for AIG aviation unit stake
ft.com — Published: November 30 2009 02:00 | Last updated: November 30 2009 02:00 A consortium of private equity... investors and the head of International Lease Finance Corp is close to making a bid for about half of the aviation-leasing business of American ... (more) Bid nears for AIG aviation unit stake
“Can’t Get Enough: Goldman’s Profit is Citi’s Pain?”
nakedcapitalism.com — By Thomas Adams, at Paykin Krieg and Adams, LLP, and a former managing director at Ambac and... FGIC. Many thanks for the thoughtful comments on my earlier post . If you can take a little more on the subject, I thought I would add some clarification ... (more) “Can’t Get Enough: Goldman’s Profit is Citi’s Pain?”
Wallison: Timmy!’s Nose is Growing
streetwiseprofessor.com — In an oped in today's WSJ, Peter Wallison notes a fundamental inconsistency in the government's defense of... the AIG bailout: Since last September, the government's case for bailing out AIG has rested on the notion that the company was too big to fail. ... (more) Wallison: Timmy!’s Nose is Growing
Peak oil panic? Dubai or not Dubai?
blogs.zdnet.com — Dubai's oil reserve are dwindling and now their rampant investment program has hit a rock.... (more) Peak oil panic? Dubai or not Dubai?
Media Digest  11/26/2009  Reuters, WSJ, NYTimes, FT, Bloomberg
Media Digest 11/26/2009 Reuters, WSJ, NYTimes, FT, Bloomberg
247wallst.com — Reuters: Saab’s failure to be bought shows that Chinese companies are having trouble moving into Western markets... through M&A. Reuters: AIG (NYSE:AIG) and former CEO Greenberg settled legal issues between them. Reuters: Dubai will put a ... (more) Media Digest 11/26/2009 Reuters, WSJ, NYTimes, FT, ...
Video: AIG CEO Signs Non-Compete Contract
marketnewslive.blogspot.com — The CEO of AIG has reportedly signed a non-compete contract, which could be a sign that he... plans to stay put at the struggling insurer. The Wall Street Journal reported today that AIG chairman Harvey Golub told the newspaper that CEO Robert Benmosche is committed to leading the company (more) Video: AIG CEO Signs Non-Compete Contract
Marc Faber Sees War Against an Invented Enemy and a Big Financial Bust
hf-implode.com — ""If you want to hedge against war, you don't want to own derivatives in UBS and AIG,... but you have to own them physically, like farmland and agricultural commodities. That is something to consider for you as a personal safety and hedge. You have to own some commodities,"" (more) Marc Faber Sees War Against an Invented Enemy and a Big ...
More on Goldman and AIG
baselinescenario.com — Thomas Adams, a lawyer and former bond insurer executive, wrote a guest post for naked capitalism on... the question of why AIG was bailed out and the monoline bond insurers were not (wow, is it really almost two years since the monoline insurer crisis?). He estimates that the monolines together ... (more) More on Goldman and AIG
AIG's Benmosche Signs a Noncompete Deal
AIG's Benmosche Signs a Noncompete Deal
online.wsj.com — SERENA NG Robert Benmosche, chief executive of American International Group Inc., signed a noncompete agreement in a... sign he is committed to remaining at the government-controlled insurer. Mr. Benmosche "is committed to leading this company as CEO ... (more) AIG's Benmosche Signs a Noncompete Deal
Goldman/AIG Conspiracy Theories: There’s a Reason They Won’t Go Away
nakedcapitalism.com — Note: this post is by Thomas Adams, at Paykin Krieg and Adams, LLP, and a former managing... director at Ambac and FGIC, with some minor additions by yours truly. This is a significant piece of some puzzles he, some other experts who prefer to remain ... (more) Goldman/AIG Conspiracy Theories: There’s a Reason ...
Cuomo Took Campaign Cash From Lawyers With Matters Before Him
hf-implode.com — " Boies Schiller & Flexner LLP, a New York law firm led by David Boies, gave Cuomo... $35,000 this year, records show. The firm represents former American International Group Inc. Chief Executive Officer Maurice “Hank” Greenberg in a civil fraud case the attorney general is pursuing. Lawyers ... (more) Cuomo Took Campaign Cash From Lawyers With Matters ...
AIG Re-brands Asset Management Business
hf-implode.com — "American International Group (AIG: 35.22 +0.34%) re-branded its asset management and investment advisory business to PineBridge Investments.... The renaming of the business is part of a transition stage into an independent business." (more) AIG Re-brands Asset Management Business
Timmy!’s Testimony
streetwiseprofessor.com — Krugman is bashing Timmy! Geithner for his role in the AIG bailout. This poses something of a... dilemma for yours truly. My sentiments parallel those of Henry Kissinger during the Iran-Iraq War: too bad they both can't lose. All snark aside, the ... (more) Timmy!’s Testimony
Notes from Recent Travels
alephblog.com — Before I begin this evening, I would like to comment on my absence for the last week.... I gave a talk on Friday to the Southeastern Actuaries Conference . I found myself behind the eight-ball, because of my many other projects, and so I had to block out the time to write and prepare the talk.  ... (more) Notes from Recent Travels
The AIG-Maiden Lane III Controversy
baselinescenario.com — As everyone knows by now, Neil Barofsky, special inspector general for TARP, has a new report out... on the decision by the Federal Reserve Bank of New York last Fall to make various AIG counterparties (primarily some very big banks with names you know) whole on the the CDS protection they had ... (more) The AIG-Maiden Lane III Controversy
The AIG report
krugman.blogs.nytimes.com — By itself, the AIG story would be damaging enough. But it's part of a pattern -- and... that pattern has ended up undermining the economy's prospects, big time. (more) The AIG report
Did NY Fed Cost Taxpayers Billions?
Did NY Fed Cost Taxpayers Billions?
247wallst.com — There are two sides to every story, and sometimes three, four or five. An audit by the... Special Inspector General for the Troubled Asset Relief Program claims that the Federal Reserve Bank of New York allowed banks to get 100% of the value of ... (more) Did NY Fed Cost Taxpayers Billions?
Watchdog: Gov't may have overpaid to bail out AIG
hf-implode.com — " Officials handling the multibillion dollar bailout of insurance giant American International Group Inc. mismanaged an initial... rescue attempt and may have overpaid other banks to wind down AIG's business relationships, a government watchdog says." (more) Watchdog: Gov't may have overpaid to bail out AIG
How Much is Benmosche Really Worth to AIG? (AIG, MET)
How Much is Benmosche Really Worth to AIG? (AIG, MET)
247wallst.com — American International Group, Inc. (NYSE: AIG) is under pressure today after its new CEO Robert Benmosche, who... has not even had a full three months yet on the job, has effectively threatened to walk out as CEO of AIG. The reasoning is over the ... (more) How Much is Benmosche Really Worth to AIG? (AIG, MET)
Billionaire Bill Gates says Wall Street pay too high
reuters.com — Michelle Nichols NEW YORK (Reuters) - Bill Gates said on Wednesday he believes Wall Street pay is... "often too high" and that U.S. government ownership of American International Group Inc worries him because it has devalued the giant insurer. The ... (more) Billionaire Bill Gates says Wall Street pay too high
Today’s Best Market Rumors (11/11/2009)
Today’s Best Market Rumors (11/11/2009)
247wallst.com — Updated throughout the day. American Air (NYSE:AMR) may team with private equity firm TPG to make an... investment in Japan Air. (Bloomberg) AIG (NYSE:AIG) CEO Robert E. Benmosche may resign. (WSJ) Google (NASDAQ:GOOG) plans to release a new programming ... (more) Today’s Best Market Rumors (11/11/2009)
Top Day Trader Alerts (AIG, AONE, MBI, PALM, SIGM, REGN, CADX, TRA, CF, AGU, BRCD)
247wallst.com — These are this morning’s top day trader and active trader alerts seen in the pre-market trading hours.... We also included some options color from yesterday. A link has been provided for more detailed analysis and data for each stock over at ... (more) Top Day Trader Alerts (AIG, AONE, MBI, PALM, SIGM, REGN, ...
AIG Potentially Leaderless (AIG)
vsinvestor.com — American International Group, Inc. (NYSE: AIG) is under pressure. The company could find itself leaderless again. Its... new CEO Benmosche reportedly notified the board of directors that he was considering stepping down because of the tasks of ... (more) AIG Potentially Leaderless (AIG)
AIG’s Benmosche Learns He Can’t Push Uncle Sam Around, So Threatens to Quit
nakedcapitalism.com — AIG’s CEO Benmosche has displayed extraordinarily arrogance even before he took the job, so his latest stunt,... a threat to leave AIG high and dry by quitting a mere three months in, should come as no surprise. Frankly, from the get-go, he ... (more) AIG’s Benmosche Learns He Can’t Push Uncle Sam Around, ...
AIG Consumer Lender Cuts 300 Jobs, Shuts 25 Branches
hf-implode.com — "American International Group Inc.’s consumer lender said it eliminated about 300 jobs and shut 25 branches in... the third quarter after the company lost access to its usual sources of funding." (more) AIG Consumer Lender Cuts 300 Jobs, Shuts 25 Branches
AIG’s Benmosche Can’t Push Uncle Sam Around, So Threatens to Quit
hf-implode.com — "AIG’s CEO Robert Benmosche has displayed extraordinarily arrogance even before he took the job, so his latest... stunt, a threat to leave AIG high and dry by quitting a mere three months in, should come as no surprise. Frankly, from the get-go, Benmosche fit the stereotype of a narcissistic top ... (more) AIG’s Benmosche Can’t Push Uncle Sam Around, So ...
AIG's Benmosche Threatens to Jump Ship
online.wsj.com — Robert Benmosche has told the board of American International Group Inc. that he is considering stepping down... as chief executive of the government-controlled insurer, just three months after taking the job, according to people familiar with the ... (more) AIG's Benmosche Threatens to Jump Ship
The Bailout Has Transformed Into An MBS Buying Program
hf-implode.com — When the financial crisis hit its high tide last year the Federal Reserve used a couple of... blunt instruments to rescue financial institutions. The largest of the credit easing policy tools were the Fed's programs direct lending to financial institutions, including opening the discount window ... (more) The Bailout Has Transformed Into An MBS Buying Program
Abstract Thoughts on CDS and the Fallacy of Insuring Your Neighbor's House
fridayinvegas.blogspot.com — warning: this post will require you to be able to intelligently ponder philosophical concepts and theories, and... perhaps try to forget some assumptions you may already have.   I failed in my attempt to explain the concepts below in a comment ... (more) Abstract Thoughts on CDS and the Fallacy of Insuring ...
AIG Taps $4.2 Billion From Treasury for Two Units
hf-implode.com — -- American International Group Inc., the insurer rescued by the U.S., tapped the Treasury Department for another... $4.2 billion to help restructure its money-losing mortgage guarantor and the plane unit it’s trying to sell. AIG accessed about $2.1 billion from its Treasury facility on Aug. 13 ... (more) AIG Taps $4.2 Billion From Treasury for Two Units
Today’s Best Market Rumors (11/6/2009) (RTP)(BHP)(BRK.A)
247wallst.com — Updated throughout the day. Citigroup (NYSE:C) will re-launch some of its least successful hedge funds (FT) The... stock market is at risk of not holding 10,000. (TheStreet) AIG (NYSE:AIG) will not hold a conference call to avoid uncomfortable ... (more) Today’s Best Market Rumors (11/6/2009) (RTP)(BHP)(BRK.A)
The AIG Give-Back (AIG)
vsinvestor.com — American International Group, Inc. (NYSE: AIG) is trading lower this morning because of the complexity of the... earnings report. But operating earnings on an adjusted basis came to $2.85 EPS. Obviously there is a loss and trouble on items and ongoing ... (more) The AIG Give-Back (AIG)