Tag:
Insurer
Latest Headlines
Latest Headlines
Bank of America to take charge to cover settlements
One big question hanging over the all the talk of Bank of America's putback claims settlement with big-name bondholders like Blackrock, PIMCO and others was just how expensive the $8.5 billion settlement would be.
There was confusion about whether the settlement would require massive new reser
Private mortgage insurers face bleak future
Most people tend to assume that the worst of the mortgage crisis is behind us. Executives at private mortgage insurers, however, do not have the luxury of that assumption. Barron's has weighed in with an in-depth look at MGIC, Radian and PMI and concludes that these companies represent the nex
Goldman's ever-troubling roll in AIG mess
We've heard a lot about the Goldman Sachs ( GS ) dogfight with AIG ( AIG ) that ultimately led to billions of dollars in bailout funds going to Goldman Sachs via AIG to pay off CDS obligations. Thanks to the New York Times , we now have a lot more color as to what happened.
We're still
Before the storm: No calm at AIG
The financial crisis at AIG ( AIG ) exploded in the media in a big way in 2008. But a full year before that, executives and others at the now disgraced insurer were voicing concern about the company's financial products units, which eventually imploded. The issue eventually became "the hottest s
Goldman Sachs anger erupts in Washington
Goldman Sachs is coming under increasing fire on Capitol Hill, for its unapologetic acceptance of $13 billion in payments from AIG, part of the troubled insurer's effort to make counterparties whole. The funds came from the U.S. government, of course.
The bank's recalcitrant stance has whipped
Harsh spotlight on Goldman Sachs for AIG payments
It was big news when AIG finally released the list of CDS trade counterparties that it had paid off with taxpayer funds. At the top of the list was none other than Goldman Sachs, which received $13 billion more than any other firm. Goldman spokesman Michael DuVally told Reuters that it was hed
Bonus blues stalks big AIG, Wachovia
AIG definitely made the right move in announcing that its CEO would receive a $1 salary for 2008 and forego a bonus. The six other top executives will give up bonuses as well. About 50 other executives will give up pay raises in 2009. What else could the insurer do after accepting massive amounts
What to make of AIG?
For AIG, the hits just keep coming. The latest: the Fed has agreed to make another $38 billion available to the disgraced insurer to keep its troubled lending securities business alive. That unit started bleeding when the money it invested (essentially collateral from customers) in long-term instr
