Seeking Alpha |
October 13th, 2008 |
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On Oct 21, somebody [group A] will have to pay somebody else [group B] billions in cash to settle Credit Default Swaps ((CDS)) on Lehman. Estimates on what this entails range from $100 billion to as much as $400 billion.Group A will almost certainly include [[AIG]], the biggest net seller [...]
Seeking Alpha |
October 13th, 2008 |
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If AIG (AIG) can revert to the traditional actuarial-based, risk-placement business model, it could easily rate as one of the most attractive buys in the market today.Since credit default protections are not predicated on probabilities derived from credible statistical data, AIG should never have engaged in credit default swaps without [...]
Seeking Alpha |
October 13th, 2008 |
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Amongst our weaponry are such diverse elements as fear, surprise, ruthless efficiency, an almost fanatical devotion to the Pope, and nice red uniforms... Henry Waxman, chairman of the Global Financial Meltdown Star Chamber, has sort-of cut a break for the hedge fund participants in his so far intensely entertaining ‘Asking [...]
The Fed is on the verge of appointing trustees to oversee the government's AIG stake, a move that offers a possible model for handling oversight of financial companies rescued by U.S.[...]
While European insurers have held up well against the financial crisis, analysts worry that steep losses could cause insurers to need emergency cash.[...]
AIG has no plans to suspend lobbying in Washington, in spite of the government's $85bn bail-out of the insurance group[...]
Seeking Alpha |
October 12th, 2008 |
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Bloomberg sums up the disorientation of the Treasury in two articles: “Paulson Indicates Need to Purchase Bank Equity `Soon as We Can'” and “Fannie, Freddie to Buy $40 Billion a Month of Troubled Assets”. In "Paulson/Bernanke: A Conspiracy of Dunces", I wrote that the dynamic duo has shown no consistency [...]
Seeking Alpha |
October 12th, 2008 |
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Yes, we are American. We spend more hours at work than do workers in most developed countries, and can be fired at will (almost). But our banks bailout plan sucks. I did not want to use a word as strong as the s-word, but it really does. The Brits are [...]
Forbes |
October 12th, 2008 |
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New Fed credit line will be used to avoid forced sale of mortgage-backed securities as insurer waits for market to improve.[...]
Seattle Times |
October 12th, 2008 |
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In the Seattle area and elsewhere, the tumult of merging and downsizing companies — WaMu, Wachovia, Merrill Lynch, AIG, etc. — will likely redraw real-estate vacancy maps, so brokers are preparing.[...]
SF Chronicle |
October 11th, 2008 |
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Shares of AIG, Fannie Mae and Freddie Mac are trading at a fraction of their former highs. Also, according to Yahoo, AIG is paying a 25 percent dividend yield. Should I buy these stocks? That is the most common question I've heard from readers in recent days.[...]
Banks, insurers and miners all routed as benchmark index closes 9% down on the day at its lowest point since May 2003[...]
Smart Money |
October 10th, 2008 |
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Should my fiancee and I save for a down payment on a house or pay off our debt?[...]
Banks have borne the brunt of the credit crisis to date in Europe, but as the credit cycle turns down, many insurers could see the value of their non-equity portfolios as well as their stock-market holdings deteriorate sharply.[...]
The Street |
October 10th, 2008 |
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AIG is frozen out of the credit markets. Without the Fed's latest cash infusion, the insurer would almost certainly have to return, cap in hand, to the Treasury.[...]
The Times |
October 10th, 2008 |
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The insurers of Lehman Brothers’ debt face a claims bill of about $360 billion ($£211 billion) after an auction of the bankrupt US brokerage’s borrowings determined that they were only worth 9.75 cents on the dollar.[...]
In the face of declining profits and worries that life insurers are going to have to raise capital to make up for investment losses, Lincoln National Corp. of Radnor said today that it would halve its quarterly dividend.[...]
FT Alphaville |
October 10th, 2008 |
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Credit derivatives markets saw a major sell-off Friday morning mimicking the black despair seen in stock markets since the big US collapse late on Thursday. The banks once again suffered, with Barclays, RBS and UBS all moving about 15 basis points wider, but insurers were hit harder as at the [...]
New York Times |
October 10th, 2008 |
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Global stocks plummeted, with selling momentum accelerating after a Japanese insurance company was driven out of business. In Tokyo, the Nikkei fell 9.6 percent.[...]
