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Credit Default Swaps

Some Jobs Taxpayers Don't Need to Buy

Leo W. Gerard | Posted 05.25.2011 | Business
Leo W. Gerard

A second stimulus is completely reasonable at a time when there are six unemployed Americans for every job opening and when it takes six months on average for an unemployed worker to find a job.

WSJ: AIG CEO Ready To Quit Over Pay Constraints

Huffington Post/AP | Posted 05.25.2011 | Business

NEW YORK — After just three months as head of battered insurer American International Group, Robert Benmosche has threatened to leave his post a...

Claims of Financial Reform Victory? You Can't Reform Vampires and Zombies

Marshall Auerback | Posted 05.25.2011 | Business
Marshall Auerback

Obama clearly seems to have imbibed some of the Chicago School's free market ideology, and the unspoken assumption that free, unfettered markets are the optimal state.

The Geithner Deception

Lawrence G. McDonald | Posted 05.25.2011 | Business
Lawrence G. McDonald

The public deserves to know about Tim Geithner's three years of total incompetence at the New York Fed, and they need to hear about the billowing risk in the credit derivatives markets, and how he failed to protect us.

Goldman Sachs Driving YRC Trucking Into Bankruptcy, Hoffa Says | Pierre Paulden and Shannon D. Harrington | Posted 05.25.2011 | Business

Dec. 17 (Bloomberg) -- International Brotherhood of Teamsters President James Hoffa said Goldman Sachs Group Inc. is creating derivatives trades that ...

Goldman Sachs Nearly Bankrupted AIG

Janet Tavakoli | Posted 05.25.2011 | Business
Janet Tavakoli

Goldman Sachs wasn't the only contributor to the systemic risk that nearly toppled the global financial markets, but it was the key contributor to the systemic risk posed by AIG.

AIG Swaps: New York Fed's Secret Choice To Pay For AIG Swaps Cost Taxpayers $13 Billion | Richard Teitelbaum and Hugh Son | Posted 05.25.2011 | Business

Oct. 27 (Bloomberg) -- In the months leading up to the September 2008 collapse of giant insurer American International Group Inc., Elias Habayeb and h...

Regulating Systemic Risk and Banker Compensation Will Not Fix What Is Broken on Wall Street

David Paul | Posted 05.25.2011 | Business
David Paul

The incentives to make big bets and take big risks has survived, but without the accountability. Today, the US Treasury and the Fed are trying to hold the pieces together. But why?

Life Insurance -- Bankers' New Best Friend

Christopher Brauchli | Posted 05.25.2011 | Business
Christopher Brauchli

This latest financial instrument is a guaranteed win-win almost for sure.

ReThink Review: American Casino -- Gambling on Timebomb Loans

Jonathan Kim | Posted 05.25.2011 | Entertainment
Jonathan Kim

When you hear terms that sound very technical like "credit default swap" and "reverse redlining", it's easy for part of your brain to shut off. I was guilty of this myself.

Credit Swaps Are Back En Vogue As Market Rebounds

Huffington Post | Posted 05.25.2011 | Business

Credit-default swaps -- the financial instrument that helped bring down AIG and played a key role in causing the biggest financial crisis since the 19...

Half Measures and Lukewarm "Reform" Won't Save the Middle Class

Joseph A. Palermo | Posted 05.25.2011 | Politics
Joseph A. Palermo

Let's hope that when Obama speaks Congress he outlines not only a bold program to provide health care for all Americans, but also a set of proposals to lift the middle class out of its currently dismal economic condition.

Markopolos: Credit Default Swaps Bigger Scam Than Madoff

New York Post | Posted 05.25.2011 | Business

HARRY Markopolos -- the whistleblower on Bernie Madoff who proved to be much smarter than the SEC -- says there are evildoers out there who will make ...

Obama Proposes New Derivatives Controls

AP | MARCY GORDON | Posted 05.25.2011 | Business

WASHINGTON — The Obama administration on Tuesday sent Congress legislation seeking to impose broad new oversight on derivatives, the complex fin...

New Bill Targets Credit Default Swaps

Reuters | Rachelle Younglai and Charles Abbott | Posted 05.25.2011 | Business

WASHINGTON (Reuters) - Congress will consider steps to curb speculation in the $39 trillion credit default swaps market and could prohibit investors f...

There is No Such Thing as a 'Naked Credit Default Swap'

Max Keiser | Posted 05.25.2011 | Business
Max Keiser

There is no such thing as a 'naked credit default swap.' Buying and selling avatars on Second Life using virtual money has more economic legitimacy.

Too Little, Too Late For Derivatives Oversight

Jill Keto | Posted 05.25.2011 | Business
Jill Keto

Derivatives are a problem of breathtaking scale that cannot be cleaned up with a quick government fix.

The Greening of Goldman Sachs

David Paul | Posted 05.25.2011 | Business
David Paul

The US economic turnaround may not be complete. The AIG turnaround may not be complete. The GM turnaround may not be complete. But Goldman Sachs is back.

The Mystery of the Missing Unemployed Man: On Jobs and Banks

Barbara Garson | Posted 05.25.2011 | Business
Barbara Garson

People are speculating on derivatives and derivatives of derivatives because there's no action in the real world.

Are Our Financial Markets Being Manipulated?

Danny Schechter | Posted 05.25.2011 | Business
Danny Schechter

Market manipulation are actions by rogue and not so rogue players who, working alone or together, unduly influence the way our supposed "free" markets function.

The Wall Street Journal Glosses Over the Pitfalls of Credit Default Swaps

David Fiderer | Posted 05.25.2011 | Business
David Fiderer

Credit default swaps are insurance without the normal restraints imposed traditional insurance. Normally, you are not supposed to insure an asset that you do not own.

Financial Crisis: Clinton's Role

Washington Post | Ezra Klein | Posted 05.25.2011 | Business

I think Bill Clinton makes a persuasive case that it was what he didn't do, rather than what did do, that contributed to the financial crisis. There a...

Regulating Credit Default Swaps: The Fight Over The Last Remaining Source Of Huge Banking Profits

Institutional Risk Analytics | Herbert Gold Society | Posted 05.25.2011 | Business

Despite bringing the world economy to its knees and costing taxpayers hundreds of billions of dollars in bailouts for events such as Bear Stearns, Leh...

Ryan Grim

Liddy Unsure If AIG Wrote Credit Default Swaps on GM, Chrysler Debt | Ryan Grim | Posted 05.25.2011 | Business

Edward Liddy, chairman of American International Group, told a congressional oversight panel Wednesday that he did not know if AIG had issued credit d...

Stress Test for U.S. Banks Is a Complete Fraud

Sheldon Filger | Posted 05.25.2011 | Business
Sheldon Filger

It is the fear of the derivatives toxin that has frozen credit markets, leading to the Global Economic Crisis. Geithner's stress test can't fix the calamitous state of the U.S. banking sector.