I weep for this country.

Seething Over Liddy's AIG-Goldman Connection

Is the author really this misinformed? You have zero credibility if you are just figuring this out! Paulson, a former GS guy who made these deals with AIg, decided to bail out AIG not to save AIG but rather to save the banks, namely GS. Not just save them but give them a windfall. They paid them out 100 cents to the dollar, if AIG went bankrupt it would have been much much less, obviously. The gov't killed the AIG shareholder, got rid of the AIG board and AIG CEO and put Liddy, a GS guy, in charge. This has been well publicised since it happended. In fact, once he became CEO of AIG, Liddy had to step down from the board. However, this is all smoke and mirrors. Liddy didn't really have a say in paying out GS, just keeping it quiet for the treasury. That call had already been made and agreed to by the former board. Once the payout to GS was about to come to light, the government then leaked the bonuses and made that the big deal rather than focus on the GS payout! So the sheep in AMerica were outraged by the bonuses, not the fact that AIG could have been saved by a Citibank like guarnatee and there was no reason to pay these counterparties, mostly GS, the 180 billion dollars. Instead, make AIG the scapegoat, and wny not, there is nobody who cares about them, and all the while hook up your buddies in the banks!

BlackRock: Goldman's Q1 Profit Non-Recurring and a Result of AIG Unwinds

Sorry, my computer was stuck there for a while....

BlackRock: Goldman's Q1 Profit Non-Recurring and a Result of AIG Unwinds

I disagree. I think GS were pretty brillant here. They got their buddies in the Fed and Congress to destroy AIG and use it both as a scapegoat and flow through vehicle to cover all of their CDO exposure 100 cents on the dollar. On the eve of the public finding out just where all of those billions went, the media and the government went completely ape sh#t over 125 million dollars in bonuses paid to AIG employees recruited to unwind the CDOS and of which the government intented on paying from the beginning. All the while escaping the ferovor was the bonuses paid to Merrill, Citi, Fannie and Freddie. And the public bought it, the fervor was all about those bonuses not why was GS completely bailed and paid out 100%. Just Brillant!

BlackRock: Goldman's Q1 Profit Non-Recurring and a Result of AIG Unwinds

I disagree. I think GS were pretty brillant here. They got their buddies in the Fed and Congress to destroy AIG and use it both as a scapegoat and flow through vehicle to cover all of their CDO exposure 100 cents on the dollar. On the eve of the public finding out just where all of those billions went, the media and the government went completely ape sh#t over 125 million dollars in bonuses paid to AIG employees recruited to unwind the CDOS and of which the government intented on paying from the beginning. All the while escaping the ferovor was the bonuses paid to Merrill, Citi, Fannie and Freddie. And the public bought it, the fervor was all about those bonuses not why was GS completely bailed and paid out 100%. Just Brillant!

BlackRock: Goldman's Q1 Profit Non-Recurring and a Result of AIG Unwinds

I disagree. I think GS were pretty brillant here. They got their buddies in the Fed and Congress to destroy AIG and use it both as a scapegoat and flow through vehicle to cover all of their CDO exposure 100 cents on the dollar. On the eve of the public finding out just where all of those billions went, the media and the government went completely ape sh#t over 125 million dollars in bonuses paid to AIG employees recruited to unwind the CDOS and of which the government intented on paying from the beginning. All the while escaping the ferovor was the bonuses paid to Merrill, Citi, Fannie and Freddie. And the public bought it, the fervor was all about those bonuses not why was GS completely bailed and paid out 100%. Just Brillant!

25 Companies That Lost America Nearly $1 Trillion

People we own AIG! Why are we trying to destroy it? It should be unamerican to bash the good people at AIG who are now working there knowing how bad they are perceived and yet staying loyal to the company. Keeping good employees who see some future in their current roles in the only way we will see any of that money that Congress decided to give to Goldman and France. Remember the people who caused the crisis left! And most of AIG is made up of good, solid insurance units that up until now were making money. But this grandstanding is now hurting that part of the business that had nothing to do with Financial Products whatsoever and which hold the key to taxpayers recouping what the Fed gave to the counterparties!

More Outrageous than Bailout Bonuses? Nonstop Printing of Money

The real genius here is the architect of this outrage residing in the current adminstration. They were able to turn the country's attention to these bonuses (which they knew about for months and endorsed since AIG's Board is unable to take any action without running it by the Fed) and away from the billions that went to the counterparties, i.e., Goldmen, etc... They were the ones bailed out, not AIG. They were the ones who created the mortages not AIG. The day the identity of the counterparties were released the outrage from Washington was created.
It is obvious, but still the sheep all waive their pick signs and our upset that these folks got bonuses because they are trying to unwind accounts that could cost the taxpayers way more than they have paid so far!
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The greatest trick the Devil ever pulled was getting the world to believe he didn't exist!

Wall Street Breakfast: Must-Know News

The real genius here is the architect of this outrage residing in the current adminstration. They were able to turn the country's attention to these bonuses (which they knew about for months and endorsed since AIG's Board is unable to take any action without running it by the Fed) and away from the billions that went to the counterparties, i.e., Goldmen, etc... They were the ones bailed out, not AIG. They were the ones who created the mortages not AIG. The day the identity of the counterparties were released the outrage from Washington was created.
It is obvious, but still the sheep all waive their pick signs and our upset that these folks got bonuses because they are trying to unwind accounts that could cost the taxpayers way more than they have paid so far!
_
The greatest trick the Devil ever pulled was getting the world to believe he didn't exist!

Will We See More Lawsuits Against the Investment Banks?

The real genius here is the architect of this outrage residing in the current adminstration. They were able to turn the country's attention to these bonuses (which they knew about for months and endorsed since AIG's Board is unable to take any action without running it by the Fed) and away from the billions that went to the counterparties, i.e., Goldmen, etc... They were the ones bailed out, not AIG. They were the ones who created the mortages not AIG. The day the identity of the counterparties were released the outrage from Washington was created.
It is obvious, but still the sheep all waive their pick signs and our upset that these folks got bonuses because they are trying to unwind accounts that could cost the taxpayers way more than they have paid so far!
_
The greatest trick the Devil ever pulled was getting the world to believe he didn't exist!

AIG: How It Spent Your Tax Money

Great point John John and NYGIANTS58 you called it last week!

AIG: How It Spent Your Tax Money

Cramer really knows his stuff. Too bad the Lehman CD exposure was already factored into the amount AIG has already borrowed, so Tuesday will be a non-event for AIG. Cramer really knows his stuff that is why he touted Sirius everyday until the merger and the day the finally merged he gave them the scarlet letter. What is this site, some vehicle to discuss Cramer's idiotic ravings. If you follow his picks he wrong 90 percent of the time. As we were heading for the September crash he was still touting banks like American Express, JP Morgan, etc... He really understood that exposure and its consequences, huh??? He is a moron.

AIG: How It Spent Your Tax Money

You sir, are an idiot and your lack of information makes your remarks recksless. First of all, the Fed didn't bailout AIG, more like they raped them. They took an 80% interest in the company without giving the shareholders a vote, sounds like a socialist country doesn't it?! Next, you don't understand the loan facility. An 85 billion dollar line of credit or loan facility is what was intially given to AIG to be paid back at a loan sharks vig of 8.5 plus libor (that is about 12.7 right now) giving AIG no incentive not to take the the entire amount. All AIG needed was a bridge loan, instead the government took everything. Of that 85 billion, AIG has taken about 69 billion only to offset the balance sheet (due to market to market accounting) there have been no realized losses. AIG has more than enough assets to pay back the loan, the problem is they will no sell valuable assets in a fire sale but rather are waiting till there is a better market. Plus, pursuant to the bailout and market to market being relaxed they may be able to recover that 69 billion without any sales. Next, the second facility was not a loan, rather the government simply swapped positions with banks that were calling in their interest in life insurance securities. The FED didn't loan more money they just switched positions with banks that couldn't afford to be in that position any more due to liquidity issues. Thus, to report that AIG was loaned 122 billion is inaccurate and dangerous. Lastly, these wild spending conferences are held across the industry to wine and dine your best clients, every good insurance company does it, that is how you bring in the billions of dollars AIG does. By dispariging AIG all you are doing is putting 130 thousand American jobs at risk and causing the best AMerican company to lose clients and talents to foreighn insurance companies in Europe. Those that can afford to have christmas parties and catered affairs to boost morale, keep talent and clients without idiots like you misreporting information!!!!!!!

Latest On Hedge Funds, Banks And Bailouts [Housing Tracker]

I can't believe all of this nonsense over AIG. IS EVERYONE STUPID! Obama made damaging reckless comments and didn't even look into the issue. The conference was set a year in advance and paid for by the marketing budget of the insurance companies which can not be tapped to pay back the loan from the FED and the FED loan money is not going into the insurance companies budget at all! Plus, the FED now owns AIG, even after AIG pays back the 100 plus billion dollar loan, the FED owns them. Why are we mad about a conference where 100 of their biggest clients were wined and dined by a 10 AIG employees that was paid for by the insurance companies? That is standard practice. The insurance company has a billion dollar marketing budget and needs now more than ever to keep their huge clients. The better AIG does the better tax payers will be when the FED sells the 79 percent interest later. Piling on against AIG is actually against every taxpayers best interest. We want them to thrive not go bankrupt you IDIOTS!

It's Time For a U.S. Sovereign Investment Fund

AIG was not bailed out by the Government, the Government took them over. There was no need to take the 80% interest in the company. That was a throw in. AIG just needed time to sell its assets a bridge. The core company (the international and domestic commerical insurance) is doing great, in fact operating at a bigger surplus than any other insurance company in the world. The non core can be sold for at least 180 billion. The Government, however, had AIG over a barrell on Wed with company facing bankruptcy because they could not raise the capital quick enough for the rating agencies and thus the government decided not only to loan the money but to also steal the company because they could. Now the shareholders rather pay back the loan to the FED and get the company back from uncle Sam. Also, that bad unrealized debt that AIG insured which caused the need to raise capital in such a hurry in the first place will now go away pursuant to the bailout so it will actually be a surplus rather than a debt for AIG. That debt will never be realized Thus, whomever gets control of AIG will have control of one of the best companies in the world.