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« How Goldman Sachs Killed AIG | Main | Gasparino: "Lloyd Blankfein Is Obsessed With AIG" »
Tuesday
Nov132012

Bailout Survivor: Jim Cramer With AIG's Robert Benmosche

Interview aired Friday night on Mad Money.

Taxpayers might again ask why the Federal Reserve was so eager to bail out all of AIG's deals (credit default swaps) linked to problematic CDOs at 100 cents on the dollar.  The largest beneficiary of that largesse was Goldman Sachs, whose former officers rose to influential positions in the U.S. Treasury and Federal Reserve Bank and were at Goldman's helm when these deals were created.

The taxpayer funded bailout of AIG helped Goldman Sachs to avoid potential lawsuits, among other lucrative benefits.  See Goldman Sachs: Bullies on the Block.

--

Maria Bartiromo with Benmosche on AIG earnings for Q3 - Nov. 1, 2012

Here's something that was barely covered at the time and has since been completely forgotten.  Goldman execs lied under oath regarding AIG:

---

 

Selected AIG stories from the archives:

Subpoenaed Documents Show Goldman Sachs Offered To 'Tear Up' AIG Derivatives Contracts At 'Right Price' Before NY Fed Took Over Negotiations

Marcy Kaptur Exposes Tim 'Goldman Sachs' Geithner Before Congress

South Park Explains The AIG Bailout

Geithner's Crimes Through AIG - Will The Truth Come Out

Timothy Geithner, I Call Your Bluff (Janet Tavakoli)

Who Is Dan Jester And Why Did Tim Geithner Call Him 103 Times During The Financial Meltdown Of 2008?

Emails Don't Lie, Just Ask The Fed Officials Who Hide Them: AIG's Disclosure Surprised, Displeased NY Fed

COVER-UP: New York Fed Officials Pressured The SEC To Grant 'National Security' Status To Hide AIG's $62 Billion Gift To Banks

 

 

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Reader Comments (6)

Goldman Sachs Sued By German Bank Over An AIG CDO Bailed Out By Taxpayers

http://dailybail.com/home/goldman-sachs-sued-by-german-bank-over-an-aig-cdo-bailed-out.html

From 2010
Nov 13, 2012 at 11:44 AM | Registered CommenterDailyBail
Show Us The AIG Emails (NYT Op-Ed From Eliot Spitzer, Frank Partnoy & William K. Black)

http://dailybail.com/home/show-us-the-aig-emails-nyt-op-ed-from-eliot-spitzer-frank-pa.html

These emails still haven't been released.
Nov 13, 2012 at 12:03 PM | Registered CommenterDailyBail
Bailed Out Banks HID $400 Billion In Derivatives Exposure From Regulators

http://dailybail.com/home/busted-bailed-out-banks-hid-400-billion-in-derivatives-expos.html

Just stumbled across this. I had forgotten this story completely. Anyone willing to wager that banks are still not reporting honest derivatives numbers.
Nov 13, 2012 at 12:04 PM | Registered CommenterDailyBail
Tim Geithner lies to Ali Velshi and the nation about his knowledge of the AIG bonus payments on CNN yesterday.

To the cynics who clamor that journalists are missing the bigger picture regarding AIG, I respond that it is they who have been blinded. The rub is no longer the $165 million in bonuses or even the $173 billion in taxpayer largesse. At issue are the potentially criminal lies being told by Tim Geithner as part of a shameless White House attempt at hiding its role in approving and even lobbying for over $1 billion in AIG bonuses to be paid this year.

http://dailybail.com/home/the-triumphant-return-of-tricky-dick-treasury-secretary-tim.html

If you want proof that Geithner lied about the AIG bonuses before Congress, read this.
Nov 13, 2012 at 12:07 PM | Registered CommenterDailyBail
From CBS:

A $5 million Connecticut mansion. A $4 million London townhouse. A $7 million English estate. The houses are owned by three men CBS News has learned are now the subjects of a Justice Department criminal investigation into how AIG crumbled.

Sources say investigators are digging into whether Joseph Cassano, the former head of London-based AIG Financial Products, and two of his top deputies - Andrew Forster, an executive vice president, and Thomas Athan, a managing director - committed securities fraud and other federal crimes, reports CBS News chief investigative correspondent Armen Keteyian.

At issue: whether they intentionally provided false information about the size of AIG's loses in the mortgage-backed securities market to the public and auditors.

"They would look at the email traffic to try and see who was saying what to whom," said John Laperla, a former fraud investigator for the U.S. Postal Inspection Service.

http://dailybail.com/home/update-on-aig-criminal-investigations-joseph-cassano-andrew.html
Nov 13, 2012 at 12:09 PM | Registered CommenterDailyBail
AIG, From Seizure By Mao To Citizen Bailout

http://dailybail.com/headlines/aig-from-seizure-by-mao-to-citizen-bailout.html

Interesting history
Nov 13, 2012 at 12:13 PM | Registered CommenterDailyBail

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