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epicureandealmaker.blogspot.com - 10/30/2009

Shock and Awe

— epicureandealmaker.blogspot.com — What the hell did I ever do to piss Steve Randy Waldman off? I tell you honestly,... Dear Readers, my afternoon conversation with this genial and intelligent gentleman started unremarkably enough, with a little playful banter in the Twitterverse on ... (more) Shock and Awe

Stocks

Comments vote downundo vote up Abnormal Returns found this 10/30/2009found this

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epicureandealmaker.blogspot.com - 10/28/2009

Never Send a Boy to Do a Man's Job

— epicureandealmaker.blogspot.com — Interesting article over at Bloomberg.com this morning. Did you see it? Oct. 27 (Bloomberg) — In the... months leading up to the September 2008 collapse of giant insurer American International Group Inc., Elias Habayeb and his colleagues worked ... (more) Never Send a Boy to Do a Man's Job

Stocks

American International Group

Comments vote downundo vote up naked capitalism found this 10/28/2009found this

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nakedcapitalism.com - 11/1/2009

“How Goldman secretly bet on the U.S. housing crash” (AIG as Bagholder Watch)

— nakedcapitalism.com — McClatchy, which was the only major US news organization to question the Iraq war until is was... obvious to all that it was a misguided exercise in neocon hubris, has started a series on Goldman’s famed “short subprime” exercise. ... (more) “How Goldman secretly bet on the U.S. housing crash” ...

Stocks

Housing Market

American International Group

Retail Industry

Universal Banking

Goldman Sachs

Comments vote downundo vote up Abnormal Returns found this 11/1/2009found this

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Thursday Watch
Between the Hedges — ... recession. Saks on Tuesday launched a 36-hour sale, dubbed Fashion Fix, open only to those who received emails from Saks directing them to the site. "Today, the rush begins," read the email sent to a large number of Saks.com customers on Tuesday. - After shelling out billions of dollars to Wall Street banks last year on souring trades, American International Group Inc. has gotten some of that money back, thanks to a turnaround in the very securities that helped level the insurer. Billions of dollars have flowed from banks into AIG coffers in recent months, according to people ...

AIG recoups collateral
FT Alphaville — AIG has in recent months regained billions of dollars it lost to Wall Street banks last year as trades turned sour, thanks to a turnaround in the very securities that helped drag down the troubled US insurer, reports the WSJ. For the second quarter, the figure may have topped $3bn, public filings suggest. Goldman Sachs, for one, has sent back at least about $1bn.

Afrternoon Links 10-29
Rolfe Winkler — (Reader note: from here on out, instead of citing the publication in which a piece appears, I plan to cite the writer….where possible anyway.) Goldman sends back some collateral to AIG (Liam Pleven) Interesting. Recall that AIG served as a slush fund through which the Fed sent money to banks that had been AIG’s counterparties. Goldman was the biggest recipient of this cash with $13 billion (though as Barry Ritholtz would be quick to point out, they got additional collateral before the government takeover). With asset prices climbing, some of ...