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bbowen7 » Comments » AIG

  • Wall Street Breakfast: Must-Know News [View article]
    Reporting should probably be divided into Wall Street and Main Street sections. Clearly the administration is cowed by Goldman and friends, and doesn't have a clue about small companies, community banks, and those other folks who tend to be Republicans.
    Nov 25 14:19 pm |Rating: +2 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    With Bernanke's creative expansion of the Fed's activities to holding over $2 T of liabilities, it should be no surprise that the politicians (and a lot of common folks) would think that oversight is needed. Unfortunately, the administration and Congress have made no progress on a new regulatory framework (not a priority), so everything is on the table. If Chris Dodd's proposal were in place, the Fed would get back to monetary policy and the politicians could handle fiscal policy - as has been the case for a couple of centuries.
    Nov 20 13:32 pm |Rating: +2 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    So, who was president of the NY Fed when they paid off AIG's counterparties at 100% on the dollar for their credit default swaps? Our very own Timmy Geithner. In over his head from the beginning.
    Nov 17 13:45 pm |Rating: 0 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Re: the dollar
    Deficits in excess of 10% of GDP; an administration and Congress committed to increasing healthcare costs and reducing ernergy efficiency.
    A fed committed to real negative interest rates "for a prolonged period", and quantitative easing.
    In the long run, a weak dollar will be part of the answer to our profligate ways. It is just a good thing that the rest of the world has no attractive place to go without the Chinese hurting themselves.
    Nov 12 11:59 am |Rating: 0 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Bad trades aren't criminal. A jury found two Bear Stearns fund managers did not lie by presenting an upbeat picture while their funds plunged in value.
    juxtaposed with:
    Speaking to Japanese reporters, Geithner said, "We bear special responsibility for trying to make sure that we are implementing policy in the U.S. that will sustain confidence not just among American investors... but investors around the world"
    The wrong guys were being prosecuted.

    Nov 11 14:11 pm |Rating: 0 -1 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    So glad that the UK Trade Minister will soon announce a "fiscal responsibility plan" for the next four years. It is called David Cameron and the Conservative Party which, by all accounts, will replace Labour in the first third of 2010. Who will bring forward the American "fiscal responsibility plan"?
    Nov 10 14:03 pm |Rating: 0 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Control of executive pay is a complex subject, of obvious populist attraction as a reaction to the abuses on Wall Street and in concert with the rapidly growing reach of government. Companies that the government owns - OK; companies that pose a systemic risk - why not Glass-Steagul or some other free market answer; companies that are just obscenely profitable; what about individuals? Why banks and not A-Rod, Steven Speilberg, or George Soros? But then, this is change that we can believe in.
    Oct 23 14:14 pm |Rating: 0 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    What are Moody's criteria for AAA? Deficit at 10% of GDP with no plan to reduce it; balance sheet deficit apporaching 80% of GDP. Sounds like CDOs.
    Oct 22 20:31 pm |Rating: 0 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Ben will raise rates when a majority in Washington and on Wall Street will benefit, not before.
    Oct 19 16:47 pm |Rating: +1 -1 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    So, it is good to see financial regulation moving forward - but without "black pools", hedge funds, derivatives, compensation packages, Fannie/Freddie, or anything else that would make the system more stable.
    Oct 15 13:37 pm |Rating: 0 -1 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    So, while we have all been watching health care, the magicians on Wall Street (and in Treasury) continue to rape the economy. Where is Financial Reform? What was the public's priority when this administration came into power?
    Oct 14 14:58 pm |Rating: +1 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Re: the pay czar and fines for bloggers - does the Statue of Liberty still stand in NY harbor?
    Oct 06 15:31 pm |Rating: +1 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    One has to love Sheila Bair's posture. the FDIC has a choice:
    A. Be reticent to take over more banks; minimize the loss to the government when a take-over is necessary; handle the increased costs through assessments on the banks - within the private sector; seek funding from a source that does not put the taxpayers more at risk; or
    B. Ask Tim Geithner for part of the additional $100 billion that he is holding for her.

    If there is a hero/heroine in this whole mess, it is Sheila Bair. One would hope that her views on the new regulatory structure would be heard - but she's a Republican Bush carry-over.
    Sep 22 15:27 pm |Rating: +2 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    " In a meeting tomorrow, the SEC is reportedly planning to propose that companies disclose the grades they received on bonds while shopping among ratings agencies, while the agencies may be required to disclose revenue from their biggest clients and could face increased lawsuits from investors."

    The issue is not disclosure, it is incentives. Why not return to the business model where the people buying the bonds paid for the ratings in the form of a small charge added to each sale? They (we) are the ones getting the benefit.
    Sep 16 14:10 pm |Rating: +1 0 |Link to Comment
  • Overbought Stocks [View article]
    Lists are good to launch a thought process - not to act on directly.
    Sep 13 15:28 pm |Rating: +2 0 |Link to Comment
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