credit defaul swaps

Andrew Ross Sorkin takes a shot at explaining why we have to pay those AIG bonuses today in The New York Times. Sorkin explains that he knows it’s not a popular view to even try to justify the bonuses — but it’s the new reality of  how the business world works in post-bailout America.
And it’s [...]

The growing furor over AIG executive bonus payments has President Obama concerned enough that he’s even speaking out against them now, The New York Times reports. Obama told small business owners at the White House today that he’s directing Treasury Secretary Timothy Geithner to use every legal avenue possible to block payment of those bonuses.
Mr. [...]