AIG Gives "Retention" Pay After Scrapping Bonuses (1)
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Truthout - All Articles (2)
3 days, 4 hours
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American International Group Inc., the insurer that said yesterday it scrapped bonuses for top executives after a U.S. bailout, will still pay 130 managers "cash awards" to stay with the firm, including $3 million to retirement services chief Jay Wintrob. Wintrob, 51, will get the "retention" payment in two installments, the first in April 2009 and the rest a year later, New York-based AIG said today in a regulatory filing. The firm previously disclosed the ...
If the Fed were a commercial bank, it might be declared insolvent (1)
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feedback@creditwritedowns.com (4)
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Credit Writedowns (4)
3 days, 15 hours
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Recently, I have written quite a few posts highlighting the U.S. Federal Reserve’s ballooning balance sheet. It has increased purchases of assets at an unprecedented clip. In fact, that balance sheet had $900 billion in assets just this past year. By year’s end, we should expect it to have risen more than three-fold to $3 trillion. This is a wild experiment without parallel in modern history. But, there is a cost to all of this. ...
Det är inte över än och credit default swaps (CDS) (1)
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noreply@blogger.com (Cornucopia) (0)
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Cornucopia? (0)
4 days, 15 hours
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Vi har antagligen inte sett botten på börsen än. Det dröjer nästan två månader innan vi får se företagens bokslut för 2008, och med det hur fjärde kvartalet blev. Det lär inte bli munter läsning från många företag.Naturligtvis skall börsen ligga lite före, men frågan är hur nästa rapportperiod kommer bemötas av marknaden.En intressant vinkling på finanskrisen och speciellt credit default swaps (CDS:er) fick vi i förra helgens Financial Sense-intervju med Daniel R. Amerman. Enkelt ...
The Fed Is Out Of Control… Good News For Gold (1)
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Eric Roseman (0)
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Contrarian Stock Market Investing News - Featuring Bargain Stocks (0)
5 days, 9 hours
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Reckless government spending has already put the US taxpayer on the hook for trillions of dollars, says Eric Roseman. And there is no telling how many more bailouts and loans are to come. Eric says gold will emerge as a surrogate currency as the Fed prints the US dollar into oblivion. And that means a sharp return to its long-term bull run. This from The Sovereign Society: The Federal Reserve this week announced new plans ...
'Let me know if you are interested in engaging' [Public Relations] (1)
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Hamilton Nolan (6)
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Gawker (29)
6 days, 7 hours
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Some poor flack from money-burning "insurance" company AIG tried to send Wonkette editor Ken Layne—a known terrorist!—several long, dry emails correcting him on some minor point of fact, until a pissed Layne vowed "I am going to post all of these, for hilarity," and now AIG looks thoroughly incompetent in media relations as well as the insurance business. Why must it take a dangerous patriot like Ken Layne to teach AIG about jokes? [Wonkette]
Reinsurer Stocks: A Fear-Driven Market Creates Opportunity (1)
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John Appel (0)
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SeekingAlpha.com: Home Page (0)
6 days, 13 hours
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John Appel submits: Catastrophes both natural and man-made have been hitting reinsurance companies, but the outlook is good. Shares of all the reinsurance companies were pummeled in October, with the combination of Hurricanes Ike and Gustav hitting underwriting profits while the capital markets carved a mark-to-market chunk out of investment portfolios.Things seemed to improve around Halloween and into November, as signs of “hardening” premium rates began to emerge. But shares have recently retested their lows ...
AIG Using Taxpayers’ $150 Billion To Annoy Comedy Blog (9)
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Ken Layne (5)
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Wonkette: The D.C. Gossip (11)
1 week
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The government rescued insurance giant AIG from its own wretched, greedy incompetence by giving the evil company $80 billion $150 billion of your tax dollars. With this insane reward for being an epic failure, AIG was supposed to rebuild its core business — which is insurance, not gambling like a drunken fool and destroying the entire global economy in the process. Instead, AIG is burning through its bailout cash by sending absurd emails to political-comedy ...
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Rini said:
"nah dude."reminder for my friend who did not like a Wonkette post i shared earlier- remember, it's not real.
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Chris said:
Thank you. Thank you for speaking for all of us who ever had anything to do with journalism. Or insurance. NOW POST THIS PERSON'S NAME so we can all join in the fun.
In reply to a reply by J.H. Huebert and Walter Block (1)
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Rad Geek (0)
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Rad Geek People's Daily (0)
1 week
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J.H. Huebert and Walter Block have recently published an essay which claims to be a reply to Roderick Long’s essay on left-libertarianism for Cato Unbound. Huebert and Block insist that they are going to set the record straight on the correct libertarian view of these matters. But it’s not clear that they have succeeded in even setting the record straight on Roderick’s view of these matters. For example, I think they have clearly and grossly ...
The AIG-Daily Kos dialogue continues (2)
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SusanG (1)
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Daily Kos (24)
1 week, 3 days
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Last Saturday AIG's media relations rep Peter Tulupman answered a round of questions submitted by Daily Kos readers in response to a previous post. AIG is currently working through the backlog of questions from the original post, and plans as well to answer some follow-ups generated in last weekend's piece as well as some that come up today. Via email, here are Mr. Tulupman's answers: Again, on behalf of AIG, we appreciate the opportunity to ...
Bankruptcy, Not Bailouts, Is What The Constitution Intended (1)
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Byron King (0)
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Contrarian Stock Market Investing News - Featuring Bargain Stocks (0)
1 week, 4 days
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The U.S. Constitution has a Bankruptcy Clause (Article I, Section 8, Clause 4). It doesn’t have a Bailout Clause. So why are so many U.S. politicians determined to avoid companies going bankrupt? According to former bankruptcy lawyer Bryron King, not only should failed companies go into bankruptcy, as provided for in the constitution, but also Chapter 11 proceedings should be used to sort out companies that hold unstable derivatives on their books. The framers of ...
What are They Thinking? (1)
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Ted (2)
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Teds Take (0)
1 week, 5 days
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My family uses AIG as an insurance company on our homes and personal effects. We received in the mail today a huge Tiffany box with two champagne glasses within as a thank you for our business and for good cheer this holiday season. Arrgghhh! Are you kidding me? Please! Save the money and keep some people employed. Give the money to charity. Take less money from the taxpayers. Why do I need two more champagne ...
GameGum - flash games (1)
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Andrew (9)
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Andrew Wooldridge Dot Com (0)
1 week, 6 days
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There are many, many flash portals out there. Probably more than hairs on my head :)However, this one has an interesting twist in that anyone can submit a flash game and have it show up in the portal right away. Good games get good reviews and rise to the top. It's kinda like digg for flash games...
Wall St Bailout Cost Now Exceeds $4 Trillion (1)
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chartingstocks1 (0)
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Free Stock Market Newsletter ChartingStocks.net (0)
1 week, 6 days
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That’s right $4.28 trillion dollars. That’s $4,284,500,000,000. The total cost has now exceeded the total cost of World War 2, in inflation adjusted terms. Fannie Mae & Freddie Mac have cost the American taxpayer $350 Billion, AIG $110 Billion+, Bear Stearns $30 Billion and $25 Billion to the Auto Makers. The US has shelled out $700 [...]
China Now Largest Holder Of US Treasuries (1)
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24/7 Wall St. (2)
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24/7 Wall St. (2)
2 weeks
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The next time Congress wants to raise a $700 billion bailout fund or put together a new package to help a firm like AIG (AIG), Washington is going to have to call Beijing. As the budget deficit grows each year and is likely to expand at a more rapid rate during a recession as receipts fall and the need for a social safety net rises, the Treasury is going to have to get deeper and ...
5 Financial Crisis ‘Aftershocks’ You Must Prepare For Today (1)
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William Patalon III (0)
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Contrarian Stock Market Investing News - Featuring Bargain Stocks (0)
2 weeks
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Investors are fleeing the stock market as the rules of the game keep changing. But if you know what the next shift will be, you can stay ahead of the curve. Shah Gilani outlines the five coming “aftershocks” of this financial crisis, and what they mean for your portfolio. This from Money Morning: It used to be that buying a stock was like buying a house. You’d find a house that looked super from the ...
Best of CRAFT (2)
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Becky Stern (11)
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MAKE Magazine (88)
2 weeks, 2 days
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Here are some of my favorite posts from the CRAFT blog this week: Creative Food Manipulation Styrofoam Robot Blythe-sized Creepy Knitted Ski Masks Fetus Cookie Cutter Band-Aid Bear Ann Morton's Political Fiber Art in Phoenix HOW TO - Knit a Star-nosed Mole Plastic Water Bottles Become Sparkly Star Decorations Read more | Permalink | Comments | Read more articles in Crafts | Digg this!
The Tom Hanks Movie "The Money Pit" Is Actually A Documentary About Our Economy [Tragicomedy] (2)
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Meg Marco (33)
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Consumerist (48)
2 weeks, 5 days
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Over at Slate they've realized that the Tom Hanks movie from the 80s "The Money Pit" is actually just a documentary about our current financial crisis and the bailout of AIG. Specifically, the scene in which the kitchen catches fire and the bathtub falls through the floor. (Video, inside...) Of all the metaphors we have seen for the current economic crisis — and yes, we've seen more than a few — this is clearly the ...
Where's the Bailout Now? (1)
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Nicholas Jones (0)
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SeekingAlpha.com: Home Page (0)
3 weeks
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Nicholas Jones submits:The U.S. has been dishing out the bailout funds at a truly stunning pace. It wasn’t too long ago that Fannie Mae and Freddie Mac received those first capital infusions. Since then, so much money has been dolled out that it’s difficult to follow who got what money, and who the next recipient of government funds is going to be. I want to take a look back into some of the specifics of ...
Republicans to Receive Bailout from Congress (3)
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Coyote (0)
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Coyote Blog (0)
3 weeks, 1 day
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Congressional Democrats announced today that they had agreed to a bailout plan for Republicans after last week's devastating election results. While exact details are unavailable, sources tell us that the Republicans will be given 4 seats in the Senate and 15 in the House. Nancy Pelosi said in a statement today: "We've established pretty clearly over the last several months that failed strategies and management should not necessarily have to result in losses in market ...
