Counterparties

The Hangover From America's Bailout Party (VIDEO)

Don McNay | Posted 05.25.2011

Read More: Treasury Department, Congress, 12 Steps, Too Big to Fail, Bailouts, Move Your Money, Hangover, Main Street, Aig, Animal House, Pension Plans, Counterparties, Credit Cards, Aa, Structured Settlements, Goldman Sachs, Unemployment, Wall Street, Maria Bartiromo, The Weekend That Changed Wall Street, Son of a Son of a Gambler, Banks, Henry Paulson, George W Bush, Subprime, Wall Street Bonuses, Personal Finance, Lexington KY, Move Your Money Campaign, American College, Lottery Winners, Richmond Kentucky, Don McNay, What to Do When You Win the Lottery, Vanderbilt University, Eastern Kentucky University, Business News
Don McNay

For a decade, Wall Street was playing funny money games, and many Americans also felt like they were invited to the celebration. We were living in fantasy land, but the fantasy is over and we woke up to a nightmare.

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America's Hangover From the Bailout Party

Don McNay | Posted 05.25.2011

Read More: Treasury Department, Bailouts, Hangover, Main Street, Animal House, Counterparties, Pension Plans, Aa, Aig, Goldman Sachs, Unemployment, Maria Bartiromo, The Weekend That Changed Wall Street, Subprime, Wall Street Bonuses, Wall Street, Personal Finance, 12 Steps, Move Your Money, Congress, Structured Settlements, Credit Cards, Son of a Son of a Gambler, Banks, Henry Paulson, George W Bush, Too Big to Fail, Books News
Don McNay

I've been reading Maria Bartiromo's new book, The Weekend That Changed Wall Street. A better title might have been "The Weekend that Changed the World." It was America's chance to bottom out. We didn't.

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There's a New AIG Story. I Was an AIG Exec. Here's the Deal.

Richard (RJ) Eskow | Posted 05.25.2011

Read More: Deutsche Bank, Hank Greenberg, Bank of America, Merrill Lynch, Goldman Sachs, Aig, Sec, SEC/Goldman Sachs Suit, Abacus-Portfolios, Tim Geithner, Financial Reform, Aca, Counterparties, Ubs, Business News
Richard (RJ) Eskow

It turns out that AIG reportedly wanted to pay 60 cents on the dollar for Abacus deals it had insured, but Geither's New York Fed directed them to pay the full amount.

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New York Times Does Not Understand Main Street

Don McNay | Posted 05.25.2011

Read More: Douglastown NY, Kentucky Guardianship Administrators, Senate Minority Leader, Bailouts, Queens Ny, Counterparties, Dartmouth, Roger Ailes, Arianna Huffington, Bee Gees, Richmond Ky, Andrew Ross Sorkin, David Herszenhorn, McNay Settlement Group, New York Times Editors, Thomas Friedman, Bp, Time Magazine, Books, Washington Elites, Too Big to Fail, Michael Lewis, Joe Nocera, Fox Business News, Main Street Media, Clu, Louisville, Million Dollar Round Table, Banks, Ben Bernanke, Lyndon Johnson, mcnay.com, Senator Mitch McConnell, New Orleans, Institute for Rural Journalism and Community Issues, Mitch McConnell, President Obama, The Big Short, Main Street, donmcnay.com, Flushing, Msnbc, Oil Spill, ProCon.Org, Move Your Money Campaign, American College, Personal Finance, Lexington, Greed, Msfs, Louisiana, Chfc, Move Your Money, Kentucky, British Petroleum, Queens, Don McNay, Cnn, Wall Street, Wall Street Bailouts, Vanderbilt University, New York Elites, Eastern Kentucky University, New York Times, Fox News, University of Kentucky, Cssc, Rural Blog, Media News
Don McNay

Reporting that Main Street was complicit in the financial meltdown is like blaming a murder victim for being in the wrong place at the wrong time.

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Arthur Delaney

Barofsky To Announce Counterparty Audit

HuffingtonPost.com | Arthur Delaney | Posted 05.25.2011

Read More: Aig, Neil Barofsky, Counterparties, Tarp Funds, Politics News

Government-appointed TARP watchdog Neil Barofsky said a Senate hearing Tuesday that he plans to review AIG's payments of billions in taxpayer bailout ...

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The Real Crime in the Bailout -- Naked CDS Deals

Cenk Uygur | Posted 05.25.2011

Read More: Matt Taibbi, Congress, Bailout, Treasury, Michale Lewis, Cds, Aig, Eliot Spitzer, Counterparties, Rolling Stone, Tim Geithner, Naked Cds, Financial Collapse, Business News
Cenk Uygur

I would love for Tim Geithner or anyone else in the administration or Congress to explain why they think these naked Credit Default Swaps must be paid off.

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AIG Plutocrats Pilfer the Public

Diane Francis | Posted 05.25.2011

Read More: Aig, Wall Street, Economic Crisis, Meltdown, Economy, Wall Street Crisis, Larry Summers, Crisis, Ben Bernanke, Counterparties, Credit Default Swaps, Geithner, Wall Street Bailout, Recession, Business News
Diane Francis

What is scandalous is not only the US$165 million in AIG bonuses. It's the US$180 billion which has been shoveled into AIG by taxpayers to date, funds...

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