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alephblog.com - 11/9/2008
What Do You Have To Hide?
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Bloomberg sues the Fed for refusing to disclose what sort of collateral they are lending against. I come at this from having worked in insurance for two decades. Insurers have to disclose every asset that they own in their Statutory filings. When I looked at a bank’s call report ...
nakedcapitalism.com - 11/10/2008
AIG: The Looting Continues (Banana Republic Watch)
— nakedcapitalism.com — The Wall Street Journal reports , as was rumored on Friday, that AIG appears on the verge... of approving a considerably enlarged and sweetened rescue package from the government. We were less than happy with the idea when it first surfaced (see our ... (more) AIG: The Looting Continues (Banana Republic Watch)

Comments vote down Economist's View found this 11/10/2008found this
nakedcapitalism.com - 11/8/2008
The Black Hole Gets Bigger: AIG Back for Yet Another Bailout
— nakedcapitalism.com — 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 ... (more) The Black Hole Gets Bigger: AIG Back for Yet Another Bailout

Comments vote down IEHI Feed: The Hedge Fund Implode-o-Meter found this 11/8/2008found this
ft.com - 11/8/2008
AIG in talks with Fed over new bail-out
— ft.com — AIGis asking the US government for a new bail-out less than two months after the Federal Reserve... came to the rescue of the stricken insurer with an $85bn loan, according to people close to the situation. (more) AIG in talks with Fed over new bail-out

Comments vote down Paul Kedrosky's Infectious Greed found this 11/8/2008found this

Blog Reactions

The Prudent Investor:  Bloomberg Picks a Fight With the Federal Reserve

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Blog Reactions

Bloomberg Picks a Fight With the Federal Reserve
The Prudent Investor — ... David Merkel's Aleph Blog was quick to come up with five reasons for the Fed's secrecy, all of them most alarming for believers in a free market system. Headlining "What Do You Have To Hide" he lists the following: ...

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Nowhere to hide
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Blaming Moody’s
ritholtz.com 12/7/2008 — “These errors make us look either incompetent at credit analysis or like we sold our soul to the devil for revenue, or a little bit of both.” — A Moody’s managing director responding anonymously to an internal management survey, September 2007.  ...
What They Want to Know: Our Top Ten List for Warren Buffett
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Buffett Is Unusually Silent on Rating Agencies
dealbook.blogs.nytimes.com 3/22/2009 — In his annual Berkshire Hathaway letter, Warren E. Buffett recently urged investors to pose tough questions at the shareholders meeting in May. Here is one that The New York Times's David Segal says is on the mind of some Buffett watchers: When are ...
Alt-A Losses Outstripping Expectations, Moody’s Says : HousingWire || financial news for the mortgage market
housingwire.com 11/20/2008 — Severe delinquencies on recent-vintage Alt-A RMBS are quickly getting worse than expected, Moody’s Investors Service said earlier this week; the rating agency said worsening trends in Alt-A have forced it to undertake a revision of lifetime loss ...
Moody’s Intrinsic Value
widemoatinvesting.wordpress.com 4/10/2009 — 2008 was a tough year for Moody’s Corporation, with free cash flow (FCF) levels falling to 2003 levels, or $450 million. In our previous analysis, we argued that Moody’s economic moat has shrunk over the last couple of years, as its credit ratings for ...
S&P: "We'd Do a Deal Structured by Cows" And Other Rating Agency Dirty Linen
nakedcapitalism.com 10/23/2008 — Most eyes were on the plunging equity markets today, and the rating agencies must be plenty glad for the air cover. The House Oversight Committee unearthed some real dirt today. From CNBC (hat tip reader Michael ): In a hearing today before the ...
Here or There: No Place to Hide
ritholtz.com 11/13/2008 — Up until this past year, U.S. investors had been in a mad dash to invest overseas, spurred by the belief that international diversification would provide a cushion against problems at home. In theory, investors stood to benefit in two ways: reduced ...
Credit Crisis Indicators
calculatedriskblog.com 4/3/2009 — Here is a quick look at a few credit indicators: First, the British Bankers' Association reported that the three-month dollar Libor rates were fixed at 1.166%. The LIBOR was at 1.30% a couple of weeks ago, and peaked at 4.81875% on Oct 10, 2008. This ...
"Goldman big winner in government's revised bailout of AIG"
nakedcapitalism.com 11/12/2008 — Note that the headline above was on a Wall Street Journal story about the new taxpayer-raping improved version of the AIG bailout. The current headline is anodyne: "New AIG Rescue Is Bank Blessing." Just as one wonders why the government backed ...
AIG: Please Sir, Can I Have Some More? — The Big Money 11/10/2008
A new bailout for AIG ? That's the word from The Wall Street Journal this morning, reporting the Treasury Department will rip up the original $123 billion bailout that was supposed to save the troubled insurer in favor of a $150 billion lifeline. ...
AIG: Cheque mate — The Economist: Full print edition 11/13/2008
How AIG got Uncle Sam over a barrel JUST how concerned should American taxpayers be about American International Group (AIG), the insurance company brought to its knees by its escapades in the credit-derivatives market? On November 10th a revised ...