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Aig Credit Default Swaps

Shahien Nasiripour

The Next Derivatives Regulator? | Shahien Nasiripour | Posted 09.18.2013 | Politics

The White House is considering Elizabeth Ritter, a longtime lawyer at the Commodity Futures Trading Commission, to replace Gary Gensler as the chief U...

Shahien Nasiripour

Obama Set To Purge Top Wall Street Foe | Shahien Nasiripour | Posted 06.11.2013 | Politics

President Barack Obama is poised to nominate Amanda Renteria, a former Senate staffer, to replace Gary Gensler atop the main U.S. derivatives regulato...

Abolish Credit Default Swaps

Robert Kuttner | Posted 12.31.2011 | Business
Robert Kuttner

It's time to abolish credit default swaps and similar exotic, impenetrable, essentially unregulated securities. They add nothing to economic efficiency, they line bankers' pockets, and they add massively to global financial risks. Swaps were only invented in the 1990s. Before swaps, investors were perfectly capable of evaluating risks -- and there was less systemic risk to evaluate. The entire banking system is overdue for a drastic simplification that puts banks back in their legitimate business of evaluating risks and then holding onto them, rather than passing the hot potato to someone else. This will require a revolutionary power shift, and it is one the Occupy Wall Street protests are already promoting.

Obama and the "Savvy" Bankers

Dean Baker | Posted 05.25.2011 | Business
Dean Baker

Last week, President Obama described Goldman Sachs CEO Lloyd Blankfein as a savvy businessman. It's worth examining more closely some of the ways in which Blankfein was "savvy."

The Times Story On Goldman's Role in AIG's Downfall Is More Damning When Placed In Context

David Fiderer | Posted 05.25.2011 | Business
David Fiderer

Placed in a broader context, the front page story The New York Times is even more damning of Goldman Sachs than readers might realize. Goldman played...

AIG Insurance Unit Credit-Default Swaps | MARY WILLIAMS WALSH | Posted 05.25.2011 | Business

Ever since the American International Group nearly collapsed, the conventional wisdom has been that the exotic derivatives that drove it to the brink ...

Sham Transactions That Led to AIG's Downfall: The Ugly Truth Was Hiding In Plain Sight

David Fiderer | Posted 05.25.2011 | Business
David Fiderer

If you want to understand the deals that wiped out AIG, the best place to start is the website of the New York Fed.

Sam Stein

Greenberg "Stunned" Same AIG Employees Still In Place, Blasts Bonuses | Sam Stein | Posted 05.25.2011 | Politics

Forced to retire from AIG in 2005 and still reportedly angry about his removal, Hank Greenberg offered what was, at times, a blistering testimony abou...

Cuomo: AIG Credit Default Swaps To Be Investigated | Karen Freifeld | Posted 05.25.2011 | Business

March 27 (Bloomberg) -- New York Attorney General Andrew Cuomo, building on his investigation of American International Group Inc.'s bonuses, subpoena...

Turf War Develops Over Regulation Of Credit Default Swaps Market

Washington Post | Posted 05.25.2011 | Business

The government is moving forward with its first significant effort to bring oversight to a vast, unregulated corner of Wall Street that has severely e...