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Societe Generale

Congress Exposes Potential Profiteering in AIG's Deals: Delay Enabled Further Cover-Up

Janet Tavakoli | Posted 05.25.2011 | Business
Janet Tavakoli

Goldman is not solely responsible, but it has a large role in AIG's crisis and a unique position of conflicted interest and influence over the terms of the bailout. Now that the crisis is over, this issue should be reopened.

Doubts at Fed Over A.I.G.'s $30 Billion Payout Two Fed Governors

nytimes.com | GRETCHEN MORGENSON and LOUISE STORY | Posted 05.25.2011 | Business

Weeks after rescuing the American International Group with an $85 billion taxpayer loan in late 2008, Federal Reserve Board officials rejected a propo...

Geithner AIG Testimony: Treasury Secretary Says AIG Bailout Saved Economy, Not Individual Banks

Bloomberg | Rebecca Christie | Posted 05.25.2011 | Business

Click here to read Geithner's testimony about the New York Fed's aid to AIG. Treasury Secretary Timothy F. Geithner said the government rescued Ameri...

AIG Bailout: 2 Fed Governors Warned Against 'Gifts' To Banks, Documents Show

New York Times | GRETCHEN MORGENSON and LOUISE STORY | Posted 05.25.2011 | Business

Weeks after rescuing the American International Group with an $85 billion taxpayer loan in late 2008, Federal Reserve Board officials rejected a propo...

One Year Before Crisis, I Told Jamie Dimon and Warren Buffett AIG Had Serious Trouble (and Goldman Sachs Knew Too)

Janet Tavakoli | Posted 05.25.2011 | Business
Janet Tavakoli

The mark-to-market losses were just one part of the problem. AIG had a grave problem just from this position alone, and AIG had other serious problems.

Treasury Cover-Up of Goldman's Role in AIG Crisis?

Janet Tavakoli | Posted 05.25.2011 | Politics
Janet Tavakoli

Goldman paid mega bonuses in past years subsidized by selling hot air. Now it proposes to again pay billions in bonuses based on earnings made possible by taxpayer dollars.

AIG Bailout Emails: SEC Ordered Records Sealed Until 2018

Reuters | Matthew Goldstein | Posted 05.25.2011 | Business

NEW YORK, Jan 11 (Reuters) - It could take until November 2018 to get the full story behind the U.S. bailout of insurance giant American International...

Geithner's Time to Give Answers

Rep. Darrell Issa | Posted 05.25.2011 | Business
Rep. Darrell Issa

Inadvertent reporting errors are one thing. Directing a bailed-out company to withhold crucial information from a government agency in order to keep the American public in the dark is another.

AIG, Toxic Assets and the Call to Personal Sacrifice

Raymond J. Learsy | Posted 05.25.2011 | Business
Raymond J. Learsy

If there has ever been an example of "sow and ye shall reap" gone awry, it is the madcap stripping of the national treasure by those who have brought us to the edge of the cliff.

Jerome Kerviel, Alleged Rogue Trader, Got "Orgasmic Pleasure" From Playing The Market

The Independent | John Lichfield | Posted 05.25.2011 | World

The five billion euros man, Jérôme Kerviel, stepped involuntarily out of the shadows yesterday, 12 months after he became the most talked about, and...

Madoff Just the Start of Post-Bubble Scandals

Diane Francis | Posted 05.25.2011 | Business
Diane Francis

The $50-billion fraud, allegedly perpetrated by New York's Bernie Madoff, is a predictable outcome following the collapse of a speculative bubble. Big bubbles attract bigger crooks.

Russian Bank Loses $10 Million In Rogue Trade

New York Times | Andrew E. Kramer | Posted 05.25.2011 | Business

MOSCOW -- An equities trader at Renaissance Capital, a Russian investment bank, lost the company about $10 million by placing unauthorized bets on the...

Societe Generale Chief To Step Aside

New York Times | NICOLA CLARK | Posted 05.25.2011 | Business

Société Générale, the French bank that was rocked by a multibillion-dollar rogue trading scandal, said late Thursday that Daniel Bouton would step...

Who the $*ck is Jerome Kerviel?

Eben Esterhuizen | Posted 05.25.2011 | Business
Eben Esterhuizen

There is no doubt that the unwinding of Kerviel's positions contributed in a big way to Monday's dramatic slump in world stock markets.

Traders' High: How Wall Street Gets Carried Away

New York Times | Jenny Anderson | Posted 05.25.2011 | Business

It is easy to dismiss Jérôme Kerviel, the rogue trader at Société Générale, as a fluke. So here is a sobering thought for Wall Street: There ma...

New Details Emerge About Massive Bank Fraud

New York Times | Nicola Clark | Posted 05.25.2011 | Business

The French bank Société Générale, facing persistent questions over how one junior trader could have caused more than $7 billion in losses, acknowl...

Societe Generale's Sales May Have Incited Market Plunge

New York Times | NELSON D. SCHWARTZ and NICOLA CLARK | Posted 05.25.2011 | Business

As panic swept European markets on Monday, word spread that a big hedge fund was in trouble and dumping stocks. Someone was selling, all right -- Soc...

Hometown Boys: Tiny French Ville Drawn Into Scandal

Wall Street Journal | JOHN W. MILLER | Posted 05.25.2011 | Business

Alleged rogue trader Jérôme Kerviel and his older brother grew up on a quiet cul-de-sac near rocky potato fields. Their mother cut hair in a low-ren...

SocGen Seeks Scrapegoat For $7.1 Billion Scandal

New York Times | http://www.nytimes.com/2008/01/30/business/worldbusiness/30bank.html?ex=1359435600&en=78aa270f64137b8a&ei=5090&partner=rssuserland&emc=rss | Posted 05.25.2011 | Business

Senior politicians here increased calls for the resignation of top executives at Société Générale, ahead of the board's regular meeting, scheduled...

Vivendi Secures $5 Billion Loan

Variety | David Hayhurst | Posted 05.25.2011 | Business

Vivendi has secured a Euros 3.5 billion ($5.08 billion) loan to back its acquisition of controlling stakes in U.S.-based vidgame maker Activision and ...