Links (Geithner Gave All Your Money To AIG, Oct. 28, 2009)

So Far -- 34 Articles

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[DailyBail]

Geithner And The New York Fed (also Stephen Friedman, former Chairman of Goldman) Made The Decision to Pay AIG Counterparties 100 Cents On The Dollar
http://bloomberg.com/apps/news?pid=20601109&sid=a7T5HaOgYHpE

Most IMPORTANT story of the day

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Oct. 27 (Bloomberg) -- In the months leading up to the September 2008 collapse of giant insurer American International Group Inc., Elias Habayeb and his colleagues worked nights and weekends negotiating with banks that had bought $62 billion of credit-default swaps from AIG, according to a person who has worked with Habayeb.

Habayeb, 37, was chief financial officer for the AIG division that oversaw AIG Financial Products, the unit that had sold the swaps to the banks. One of his goals was to persuade the banks to accept discounts of as much as 40 cents on the dollar, according to people familiar with the matter.

[DailyBail]

N.Y. Fed pushed AIG on contracts
After federal bailout, insurance giant lost its leverage with banks
http://www.washingtonpost.com/wp-dyn/content/article/2009/10/27/AR2009102703963.html?hpid=topnews

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By David Cho
Washington Post Staff Writer
Wednesday, October 28, 2009

The Federal Reserve Bank of New York said Tuesday that it had no choice but to instruct American International Group last November to reimburse the full amount of what it owed to big banks on derivatives contracts, a move that ended months of effort by the insurance giant to negotiate lower payments.

Fed officials offered the explanation in a rare response to a media report after Bloomberg News said that the New York Fed, led at the time by then-President Timothy F. Geithner, directed AIG to make the payments after it received a massive government bailout. The officials said AIG lost its leverage in demanding a better deal once the company had been saved from bankruptcy.

[DailyBail]

AIG Only Wanted to Give Goldman Sachs 60 Cents on the Dollar, Then Geithner Stepped In
http://gawker.com/5391174/aig-only-wanted-to-give-goldman-sachs-40-60-cents-on-the-dollar-then-geithner-stepped-in

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New York Fed’s Hand in A.I.G. Payout
http://dealbook.blogs.nytimes.com/2009/10/27/new-york-feds-hand-in-aig-swap-payouts/

[DailyBail]

Goldman Sachs: Hey, We’re the Good Guys!
http://executivesuite.blogs.nytimes.com/2009/10/27/goldman-sachs-hey-were-the-good-guys/?dbk

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Short Memories at Goldman
http://www.nytimes.com/2009/10/24/business/24nocera.html

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Both articles by Joe Nocera

[DailyBail]

The home-buyer tax credit: Throwing good money after bad
By Simon Johnson and James Kwak
Tuesday, October 27, 2009; 12:20 AM
http://www.washingtonpost.com/wp-dyn/content/article/2009/10/27/AR2009102703791.html

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Senate Close to Deal Replacing Homebuyer Tax Credit
http://www.bloomberg.com/apps/news?pid=20601087&sid=aE4U2k3Pf5oo

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They can't teach stupid, it just comes naturally to lawmakers.

[DailyBail]

Is Hank Greenberg So Bad for Starting an AIG 2?
http://nymag.com/daily/intel/2009/10/why_hank_greenbergs_competing.html

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Ex-A.I.G. Chief Is Back, Luring Talent From Rescued Firm
http://www.nytimes.com/2009/10/27/business/27aig.html?em=&adxnnl=1&adxnnlx=1256709697-Ax4iyOt14mLe1zoo34hXIw

[DailyBail]

9 Signs of America in Decline
http://www.usnews.com/money/blogs/flowchart/2009/10/26/9-signs-of-america-in-decline

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Housing Market Faces Hard Road to Normal, Fed Economist Says
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a1KLGpih4Xk8

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Fears of a New Chill in Home Sales
http://www.nytimes.com/2009/10/28/business/economy/28home.html?em

[DailyBail]

Post-Bailout Blues as Europe Orders ING Group to Sell 2 Units
http://www.nytimes.com/2009/10/27/business/global/27ing.html?_r=1&em

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They All Look Alike: MSNBC Mistakes Jesse Jackson for Al Sharpton
http://gawker.com/5386893/they-all-look-alike-msnbc-mistakes-jesse-jackson-for-al-sharpton

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Carnegie Hall Stagehand Moving Props Makes $530,044
http://www.bloomberg.com/apps/news?pid=20601109&sid=agzioCanEd0s

[DailyBail]

PIMCO's Gross: Fed programs end may pressure debt
http://www.reuters.com/article/ousivMolt/idUSTRE59P5A220091026

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The UK has a ‘disturbing parallel’ with Japan, says Posen
http://ftalphaville.ft.com/blog/2009/10/27/79761/the-uk-has-a-disturbing-parallel-with-japan-says-posen/

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Bank of England policymaker warns of 'double dip' recession
http://www.independent.co.uk/news/business/news/bank-of-england-policymaker-warns-of-double-dip-recession-1810031.html

[DailyBail]

Rats! City to Pay for Informing on Tax Cheats
http://www.nbcchicago.com/news/local-beat/A-City-of-Stool-Pigeons-66367287.html

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America Moving from Kingdom of Cash to Socialism Slowly but Surely
http://english.pravda.ru/world/americas/19-10-2009/109973-socialism-0

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GMAC Needs A THIRD Bailout Of At Least $2.8 Billion
http://online.wsj.com/article/SB125668489932511683.html?mod=WSJ_hpp_MIDDLETopStories

[DailyBail]

Goldman's 'Chainsaw Massacre' Halloween party
http://www.marketwatch.com/story/goldman-sachs-chainsaw-massacre-costume-party-2009-10-27

4. Fed Chairman Ben Bernanke as Bela Lugosi, the vampire in 'Count Dracula'

He doesn't need a mask. Anyone who can rule the known world from behind the Fed's shadowy castle walls and suck $23 trillion of blood from future generations of taxpayers, without Congress oversight, and get away with it, is the bona fide Dracula. Must have a standing offer with Goldman when he retires, plus lecturing and books like Alan Greenspan.

5. Tim Geithner as Damian, the young prince of darkness in 'The Omen'

He has that deceptive boyish charm, got the job as Treasury secretary because the too-greedy-to-fail banks saw him as the perfect Trojan Horse replacing Paulson. Great for raiding the Treasury. When he leaves Obama, you can bet he's headed for a huge bonus deal from Goldman.

6. Larry Summers as Hannibal Lecter in 'Silence of the Lambs'

The Hannibal mask is a party favorite. But can you really trust either one of these characters for economic advice or a meal of "liver, fava beans and a nice Chianti?" Still, with the steady flow of talent back and forth between Washington and Wall Street, Summers, chairman of the National Economic Council and a former Treasury secretary, has got to be another one with a megadeal waiting for him with the Goldman Conspiracy.

[DailyBail]

Washington Mutual Sues to Get Billions Back From FDIC
http://www.law.com/jsp/article.jsp?id=1202434948271&rss=newswire

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DEAD Government Walking -- Terrific Read
http://www.scribd.com/doc/21708457/Sprott-Oct-2009-Comment

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Kuwait May Bail Out Every Single Consumer Loan In Country -- $21 Billion
http://www.bloomberg.com/apps/news?pid=20601104&sid=afD0wdxQloIM

[DailyBail]

David Einhorn: The Lesson Of Lehman Is That There Shouldn't Have Been A Lehman
http://www.scribd.com/doc/21309823/David-Einhorn-Speech-to-Value-Investors

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Einhorn’s Next Call Won’t Be as Easy as Lehman
http://www.bloomberg.com/apps/news?pid=20601039&sid=ay_85DJSvpac

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Rattner: You Won't Believe How Incompetent GM's Management Was
http://money.cnn.com/2009/10/21/autos/auto_bailout_rattner_excerpt.fortune/?postversion=2009102103

[DailyBail]

Bank Of England Chief Mervyn King Demands Megabanks Be Split Up
http://www.scribd.com/doc/21382969/Speech-406

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Bill Would Give U.S. New Power to Seize Ailing Firms
http://dealbook.blogs.nytimes.com/2009/10/27/bill-would-give-us-new-power-to-seize-ailing-firms/

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Feinberg to Stick to Limiting Pay at 7 Companies
http://dealbook.blogs.nytimes.com/2009/10/27/feinberg-to-stick-to-limiting-pay-at-7-companies/

[DailyBail]

Geithner from SIFMA Tuesday
http://www.thedeal.com/dealscape/2009/10/treasury_secretary_geithner_on.php

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Geithner says reform will accompany recovery
http://www.marketwatch.com/story/geithner-says-reform-will-accompany-recovery-2009-10-27

[James H]

This is from the Bloomberg article on AIG and Geithner/Friedman's role:

Still, officials at AIG object to the secrecy that surrounded the transactions. One top AIG executive who asked not to be identified says he was pressured by New York Fed officials not to file documents with the U.S. Securities and Exchange Commission that would divulge details.

"They’d tell us that they don’t think that this or that should be disclosed,” the executive says. “They’d say, ‘Don’t you think your counterparties will be concerned?’ It was much more about protecting the Fed.”

So not only did Geithner do the dirty deed, he insisted that AIG cover it up. Oh dear Lord, please let this son of a bitch get fired.

[Sell Short]

Puke on you you stupid geithner!!

[gobias]

Back to the Future - It’s 1961 again, well almost.

NASA's new Ares I-X rocket may be the world's largest booster currently in service or about to fly, but it is no behemoth when compared to giant rockets of the past - and perhaps the future.

http://scitech.foxnews.mobi/quickPage.html?page=17243&content=24429570&pageNum=-1
http://www.thespacebuff.com/current/moon-rockets-saturn-v-vs-ares-v/

[James H]

Thanks, Sell Short. I needed that.

[James H]

Here's an interesting exchange on Clusterstock today from the story about AIG and Turbo's 100% Guarantee plan.

TFF on Oct 28, 12:35 PM said: They had no choice. If they let the banks take the hit, their bonds would have tanked taking all the insurers holding the bank bonds with them.

end of your education. Your welcome


Henry Blodget on Oct 28, 1:43 PM said: 0 5 @TFF: I just don't believe that. You can protect the senior bondholders and haircut everyone else ratably according to the capital structure. There was NEVER a guarantee that AIG wouldn't go bust.

[gobias]

AP...WEST PALM BEACH, Fla. – A former cashier for The Home Depot who has been wearing a "One nation under God" button on his work apron for more than a year has been fired, he says because of the religious reference. The company claims that expressing such personal beliefs is simply not allowed.

Merry Christmas, I am going to shop at Lowe's (Let's Build Something Together)

Home Depot has also refused to accept the American dollar (In God We Trust).

[RecoverylessRecovery]

Dear Mr Geithner, please don't make the mistake of thinking your resemblance to Robert Stack will continue to spare you FOREVER from the American Taxpayer's AZZ-KICKING you so RICHLY deserve.

[Ken]

“The stock market has had quite a run since July when more Bloomberg customers thought the Standard & Poor’s 500 index would rally than predicted a downturn,” says J. Ann Selzer, president of Selzer & Co., the Des Moines, Iowa-based firm that conducted the polls. “That rally may have dampened views of what to expect next. They may also think that there are better markets now for investments than the U.S.”
http://www.bloomberg.com/apps/news?pid=20603037&sid=avRKUFvn6bi0

[DailyBail]

Dear Mr Geithner, please don't make the mistake of thinking your resemblance to Robert Stack will continue to spare you FOREVER from the American Taxpayer's AZZ-KICKING you so RICHLY deserve.
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Beautiful.

[Ken]

"""Revolt now or Civil unrest will consume us all in the very near Future............"""

Just how do you suggest "we" go about it?

This is how:

Close your accounts in Big Banks and open @credit unions or community banks
Shred all credit cards and buy Cash only
Stop buying imported electronic shit
Boycott companies which outsource jobs
By USA manufactured only

Dump All Mutual funds and by foreign treasury bonds or US short term treasury.


That is great start to take on Banker and Corporate terrorists folks

It is non violent weapon....