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  • AIG is ready to sell its S&L business as soon as regulators label the insurer a SIFI. The insurer is waiting to sell the unit in so there will be no break in regulatory oversight (from the Fed). As to new businesses, CEO Benmosche has his eye on mortgages, not just insuring them (through a resurgent UGC), but originating and owning them as well. [View news story]
    Will they require the mortgagees for 20% down payment like the banks do?
    Nov 12, 2012. 05:01 PM | Likes Like |Link to Comment
  • Wall Street firms will likely reduce bonuses rather than cut jobs to control expenses this year, says Morgan Stanley's Betsy Graseck. Compensation will probably drop from a year ago as banks attempt to avoid further headcount reductions after culling their ranks heavily last year, with most of the cuts coming from employee bonuses rather than base salaries. And bonuses, as we all know, represent a disproportionately large percentage of the income for Wall Street professionals. [View news story]
    Change in total bonus must be directly proportional to the change in earnings or losses per share for a publicly traded company.
    Sep 27, 2012. 02:04 AM | Likes Like |Link to Comment