“American International Group Inc. is expected to report third-quarter loss of 90 cents a share, according to analysts surveyed by Thomson Reuters.
Leading industry analysts have said that turmoil in equity and credit markets has been hampering AIG’s efforts to sell some of its businesses, a crucial part of the insurer’s plan to repay billions of [...]
GM needs 75 billion more this year. AIG wants who knows what next. The banks all want more 100’s of billion more. The other insurers want bailout money. The major home builders want bailout money. This is insane.
SAN FRANCISCO (MarketWatch) — American International Group Inc. reportedly is seeking a new bailout from the U.S. government [...]
By Shannon D. Harrington and Abigail Moses
Nov. 6 (Bloomberg) — The most comprehensive report on unregulated credit-default swaps didn’t disclose bets in the section of the more than $47 trillion market that helped destroy American International Group Inc., once the world’s biggest insurer.
A study by the Depository Trust and Clearing Corp. fails to [...]
By Maya Jackson Randall
Of DOW JONES NEWSWIRES
WASHINGTON (Dow Jones)–The U.S. federal government is facing serious financing
needs in light of new programs regulators have implemented to fight financial
market turmoil, Treasury Acting Under Secretary for Domestic Finance Anthony Ryan
said Tuesday.
He noted that the government’s moves to buy soured mortgage-related debt, [...]
Value of WaMu debt set at 57 cents on the dollar
Sellers of default protection on bankrupt thrift to pay 43 cents on the dollar
By Alistair Barr, MarketWatch
Last Update: 10/23/2008 3:48:00 PM
SAN FRANCISCO (MarketWatch) — An auction set the value of Washington Mutual
bonds for the huge credit default swap market on Thursday.
The auction set the value [...]
DOW JONES NEWSWIRES
The Federal Reserve and other U.S. authorities “didn’t have the powers” to save
Lehman Brothers Holdings Inc. (LEHMQ) from collapsing last month, Treasury
Secretary Henry Paulson told the New York Times in an interview published
Thursday. He said the toxicity of much of the billions of dollars in assets on
its books deprived Lehman of collateral needed [...]
WASHINGTON (MarketWatch) — The Federal Reserve had extended $784.5 billion in special liquidity programs to the financial system as of Wednesday, up $104.6 billion from the previous Wednesday. Much of the increase was in the new term auction credit, which nearly doubled to $263.1 billion. Discount window loans to banks rose to a record $101.9 [...]
WASHINGTON (Dow Jones)–The superintendent of the New York State Insurance
Department told lawmakers Tuesday that a lack of transparency on credit-default
swaps made it hard for the state to know the broader effects of what an American
International Group Inc. (AIG) bankruptcy could potentially mean.
In testimony before the Senate Committee on Agriculture, Nutrition and Forestry,
Eric Dinallo said regulation [...]
WASHINGTON (Reuters) - The financial fallout outside the United States from Lehman Brothers Holdings’ bankruptcy has been about $300 billion, the head of Germany’s financial regulator said on Monday.
“We’re still licking the wounds of Lehman,” said Jochen Sanio, president of the German Federal Financial Supervisory Authority, at an international banking conference. “It caused international damage [...]
NEW YORK (Reuters) - Top executives at American International Group Inc knew of potential problems in valuing derivatives contracts, known as credit default swaps, long before questions about the risky transactions caused its stock to plummet, the Wall Street Journal said, citing documents released by congressional investigators.
The problems with these swaps would have driven [...]
NEW YORK (AP) — Concerns about the health of American International Group Inc. were renewed Thursday, a day after the insurance giant said it would receive an additional $37.8 billion loan from the Federal Reserve.
“The bottom line is, they need more liquidity than they thought,” said Mark Lane, an analyst for William Blair & Co. [...]