Reading the resignation letter from the former AIG executive who had nothing to do with credit default swaps but has been vilified regardless, you see the other side of the story, a way to feel some sympathy for top financial executives caught in the same crisis that’s More…
This resignation letter in The New York Times today from an AIG executive in the financial products unit explaining the bonus controversy from his point of view probably will be flying around the blogosphere today. In the letter to AIG CEO Edward Liddy, the executive, Jake DeSantis, says it’s not More…
Bailed-out insurance giant AIG will no doubt be a heated topic of discussion today, with The Wall Street Journal and other news organizations reporting that the failed and essentially insolvent company is vowing to pay out $450 million in bonuses to its “top performers” — you know, the folks More…
There are many irritating aspects of the continuing bailout of insurance giant AIG, a company that seems to be little more than entirely insolvent. Yet it continues to get billions of taxpayer dollars thrown at it. The biggest outrage, to me, is the Federal Reserve’s insistence that the identities More…
As Congress mulls how to buoy a sinking economy, lawmakers seem increasingly determined to rein in the unregulated derivatives industry, which many suspect has caused much of the mess.
During two congressional panels convened this week, key lawmakers have vowed to push new regulations for the derivatives market, with a More…
After the extraordinary federal takeover of Fannie Mae and Freddie Mac on Sept. 6, Treasury Sec. Henry Paulson Jr., Washington’s capo di tutti i capi on the credit crisis, drew a line in the sand with Lehman Bros. and Merrill Lynch. That makes the sudden federal takeover More…
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