Daily Archives: March 15, 2009

Bernanke Tells “60 Minutes” That Recession Could End This Year

But, with all of the qualifications he puts on the prediction, it is hardly worth considering.

Douglas A. McIntyre

Posted on: March 15, 2009 – 7:49 pm in Economy

AIG (AIG) Discloses Who Received Payments From Federal Funding (I.E. Goldman Sachs (GS) Had A Good Day

cammonopoly_wideweb__430x32507After days or pressure from Congress and the public, AIG (AIG) released data about which counterparties to it credit default swap portfolio got large chunks of money from the federal government bailout of the big insurer.

The largest sums went to Societe Generale, DeutscheBank (DB), Merrill Lynch, Goldman Sachs (GS), and Barclays (BCS). The entire list provided directly by AIG is linked here. Based on the information Bank of America (BAC) and Citigroup (C) would had huge financial exposure which could have caused large losses without the government’s intervention.

Douglas A. McIntyre

Posted on: March 15, 2009 – 4:22 pm in Banking, , , , , ,

Financial Outrage Of The Week: AIG (AIG) To Pay $450 Million In Bonuses

r218533_8550253According to The Wall Street Journal, AIG (AIG) will pay $450 million in bonuses to people in the firm’s financial products group, where may of the insurance company’s losses originated.

The paper says that AIG has told that government that “outside counsel” had advised that the previously agreed to payments to employees at the financial products unit are “legal, binding obligations of AIG.” Read More »

Posted on: March 15, 2009 – 5:55 am in Financial Stocks,