By: Matthew Arndt, CFA, CPA, CFP | January 27, 2010 | The Regulators, Wall Street Ethics
As testimony gets underway about the global insurer AIG’s rescue and the suspicious activity that surrounds it here are the facts you need to know:
A.I.G. has received $180 billion in taxpayer commitments.
In 2008 after the rescuing of AIG commenced, Fed officials rejected a proposal that would have forced its trading partners to return $30 billion [...]
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By: Matthew Arndt, CFA, CPA, CFP | January 22, 2010 | The Politicians, The Regulators
There is a developing proposal that requires congressional approval which is intended to limit among other things speculative trading activity at large banks that receive blanket guarantees from U.S. taxpayers through FDIC insurance and other Governmental assurances. Branded the Volcker Rule after its originator former Federal Reserve chairman Paul Volcker, it imposes tougher standards on [...]
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By: Matthew Arndt, CFA, CPA, CFP | December 14, 2009 | The Politicians, Wall Street Ethics
One company’s existence can have more impact on things around it than anyone might realize. The year is 2008; AIG appears to be the picture perfect company: strong earnings, exceptional growth, the quintessential symbol of capitalism, and smart management (okay, maybe not so smart). However, on the Eve of the subprime crisis, AIG encounters severe [...]
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By: Jack Waymire | March 24, 2009 | Illegal Schemes & Scams, Investment Performance, Wall Street Ethics
Author Jim Jubak writes: “Thanks to a complicit Congress, the reins were systematically loosened on the looters of the financial industry. And they’re still at it, looking for new plunder.”
Read more at: http://articles.moneycentral.msn.com/Investing/JubaksJournal/fluke-credit-crisis-was-a-heist.aspx?page=1
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By: Jack Waymire | March 16, 2009 | Illegal Schemes & Scams, Report Fraud, Wall Street Ethics
Rep. Manzullo gets the chance to ask the same question that all taxpayers are asking as of yesterday when we heard of the AIG bonuses that were going to be paid to the ‘leadership’ teams that ran the company into the ground last year!!! Priceless! You almost feel sorry for the Bailout Czar, [...]
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