More corruption in our banana republic
NY Fed official responsible for AIG loans joins AIG as AIG pushes sweetheart repurchase to NY Fed Here’s the kicker. He is being allowed to stay on at his job at the Fed while working as a lobbyist for AIG…
Tag AIG
NYT. Goldman pushed AIG to edge, profited mightily from it
NYT has a long, detailed timeline of what happened and when. Required reading. Clusterstock is even blunter. Goldman Sachs Killed AIG, but then bizarrely says it was all AIG’s fault. So it was just a coincidence those at the NY…
How the AIG bailout worked
Chart from the fine folks at Clusterstock, who also brings us news that just-released AIG documents show Goldman was deeply involved in the collapse of AIG. These are the very same documents that the SEC ordered sealed on the utterly…
How Paulson’s people colluded with Goldman to destroy AIG and get a backdoor bailout
David Fiderer at HuffPo connects the dots for us. It’s time to put an end to the plunder of the country by thugs in expensive suits. They need to go to prison. (Yes, I assume many of them are guilty…
AIG timeline
Bloomberg provides a detailed time-line of events at AIG that can be used as a handy reference during tomorrow’s Congressional hearings about them. This includes a demand that the NY Fed turn over phone logs and emails from Timmy “The…
Federal Reserve moral hazard smoking gun
(While I prefer to post about cleantech at night, about something optimistic and positive rather than just more on the slime oozing out of Wall Street. However this story looks to be huge. Mark my words, the AIG scandals will…
Corporatists, greedheads, and the coming populist revolt
The AIG saga is now unfolding in ways that “professionals” would not even dream of and is snaring past and present Treasury Secretaries who rushed to bail out the failed insurer’s counterparties at 100 cents on the dollar, to the…
Rep. Towns subpoenas NY Fed for AIG counterparty documents
Chairman Edolphus “Ed” Towns (D-NY) today released the following statement ahead of issuing a subpoena to the Federal Reserve Bank of New York (FRBNY) for documents related to AIG counterparty payments (counterparties). “To help the Committee’s investigation of payments made…
The vampire squid makes another enemy
WSJ Let me get this straight. Is [Ex-CEO of AIG Hank] Greenberg saying the machinations of Goldman Sachs were responsible for the disastrous failure of AIG amid the recent financial crisis? “Well, it certainly wouldn’t be difficult to come to…
Time to indict Geithner for securities fraud
The web of known parties guilty of fraud, coercion, or securities manipulation keeps getting bigger … I am 100% in favor of allowing Geithner to defend himself … In a court of law, for securities fraud. And as I have…