Credit Default Swaps

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Goldman Sachs Would Have Been Damaged By AIG Failure: SIGTARP Report

Huffington Post | Ryan McCarthy | Posted 11.18.2009 | Business

Read More: Cdos, Goldman Sachs, David-Viniar, Credit Default Obligations, Tim Geithner, Derivatives, Neil Barofsky, Aig, Credit Default Swaps, American International Group, Business News

Last April, Goldman Sachs CFO David Viniar said he was "mystified" by concerns that the government bailout of AIG may have disproportionately favored ...

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Goldman Sachs Nearly Bankrupted AIG

Janet Tavakoli | Posted 11.17.2009 | Business

Read More: Socgen, Cdos, Goldman Sachs, Bank of Montreal, Joe Cassano, Janet Tavakoli, Goldman Sachs Bailout, AIG Bailout, Aig, Credit Crisis, Credit Default Swaps, Wachovia, Calyon, Business News

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.

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The Moral Compass Missing From The Greatest Trade Ever

David Fiderer | Posted 11.16.2009 | Business

Read More: Deutsche Bank, Subprime Mortgage Market, Goldman Sachs, Cdos, Wall Street Crisis, Subprime Mortgages, John Paulson, Hedge Funds, Subprime Mortgage Crisis, Hedge Fund Managers, Bear Stearns, Credit Default Swaps, Wall Street Journal, Dick Fuld, Business News

As much as anything, what killed Lehman was Dick Fuld's emasculation of the risk management function, which served as a moral compass.

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WSJ: AIG CEO Robert Benmosche Ready To Quit Over Pay Constraints

Huffington Post/AP | Posted 11.12.2009 | Business

Read More: Geithner, Regulation, Credit Default Swaps, Obama, White House, Bailout, Insurance, Treasury, Benmosche, Wall Street, Robert Benmosche, New York, AIG Bailout, House, Kenneth Feinberg, Financial Reform, Aig, Metlife, Capitalism, Tim Geithner, Financial Regulation, Executive Compensation, Liddy, Barack Obama, Banks, Socialism, Bonuses, Ken Feinberg, Executive Pay, Edward Liddy, Senate, Business News

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

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Goldman Sachs CEO Lloyd Blankfein: "I'm Doing God's Work."

Times Online | John Arlidge | Posted 11.07.2009 | Business

Read More: Timothy Geithner, Goldman Sachs, Economy, Derivatives, Bailouts, Black Pools, Regulation, Credit Default Swaps, George Bush, Lloyd Blankfein, Policy, Goldman, London, Tim Geithner, Recession, Mortgage Crisis, Ben Bernanke, Henry Paulson, The City, Bailout, Barack Obama, Predatory Lending, Blankfein, Banks, Hank Paulson, Bonuses, Wall Street, Executive Pay, Business News

Goldman's reputation is suddenly as toxic as the credit default swaps and other inexplicably exotic financial instruments it used to buy with glee. Th...

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New "Too Big To Fail" Bill Gives Feds Power To Freeze Derivatives Contracts

HuffingtonPost.com | Shahien Nasiripour | Posted 11.03.2009 | Business

Read More: Fdic, Derivatives, Barney Frank, Too Big to Fail, Aig, Credit Default Swaps, Michael Krimminger, Goldman Sachs, Morgan Stanley, Tbtf, Lehman Brothers, Isda, Financial Crisis, Systemic Risk Regulator, Bear Stearns, Lehman Brothers Bankruptcy, Systemic Risk, Business News

The "Too Big To Fail" legislation currently being debated by a House committee has been widely criticized as toothless. But one provision gives the fe...

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AIG Swaps: New York Fed's Secret Choice To Pay For AIG Swaps Cost Taxpayers $13 Billion

bloomberg.com | Richard Teitelbaum and Hugh Son | Posted 10.27.2009 | Business

Read More: Elias Habayeb, Aig, Credit Default Swaps, American International Group, Tim Geithner, New York Federal Reserve Bank, Business News

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

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Wall Street Is More of a Threat to Obama's Domestic Agenda than Afghanistan

Joseph A. Palermo | Posted 10.20.2009 | World

Read More: Matt Taibbi, Bill Clinton, Pecora Commission, Treasury Department, Sec, Joseph P. Kennedy, President Barack Obama, Cdos, Collateralized Debt Obligations, Larry Summers, Federal Reserve, Credit Default Swaps, Newt Gingrich, Fdr, Merrill Lynch, Goldman Sachs, Wall Street, Vietnam, Tim Geithner, Vice President Dick Cheney, Afghanistan, Timothy Geithner, Bear Stearns, Lyndon Johnson, Alan Greenspan, Securities and Exchange Commission, Too Big to Fail, President George W. Bush, Blue Dog Democrats, World News

Whatever Obama decides to do in Afghanistan is of little consequence compared to Wall Street's ongoing "plutonomy."

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

Marshall Auerback | Posted 10.17.2009 | Business

Read More: Aig, Financial Crisis, Credit Default Swaps, Fdic, Financial Meltdown, Otc-Derivatives, Business News

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.

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Goldman Sachs To Be Paid $1 Billion If CIT Fails; Taxpayers Would Lose $2 Billion

Financial Times | By Henny Sender and Saskia Scholtes | Posted 10.04.2009 | Business

Read More: Chapter 11, Goldman Sachs, Credit Default Swaps, Finance, CIT Bankruptcy, Treasury, Cit, Timothy Geithner, Bankruptcy, Geithner, Lenders, Bailouts, Blankfein, Lloyd Blankfein, Business News

Goldman Sachs stands to receive a payment of $1bn -- while US taxpayers would lose $2.3bn -- if embattled commercial lender CIT files for Chapter 11 b...

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

David Paul | Posted 10.03.2009 | Business

Read More: Goldman Sachs, Wall Street Crisis, Phibro, Lehman Brothers, Aig Bonuses, Andrew Hall, Salomon Brothers, Bear Stearns, Systemic Risk, Wall Street Bonuses, Citigroup, Gutfreund, Aig, Credit Default Swaps, Business News

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?

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Life Insurance -- Bankers' New Best Friend

Christopher Brauchli | Posted 09.24.2009 | Business

Read More: Investment Banks, Collateralized-Debt-Obligations, Banks, Credit Default Swaps, Securities, Life Insurance, Business News

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

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ReThink Review: American Casino -- Gambling on Timebomb Loans

Jonathan Kim | Posted 11.20.2009 | Entertainment

Read More: Subprime Crisis, Wells Fargo, Cenk Uygur, Rethink Reviews, American Casino, Credit Default Swaps, Jonathan Kim, Housing Crisis, Movie Reviews, Jonathan Kim Movie Reviews, Subprime Mortgages, Subprime Mortgage Crisis, Reverse Redlining, The Young Turks, Alan Greenspan, Subprime Loans, Entertainment News

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.

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Credit Swaps Are Back En Vogue As Market Confidence Returns

Huffington Post | Posted 11.16.2009 | Business

Read More: Goldman Sachs, Lehman Brothers, Bank of America, Aig, Credit Default Swaps, Credit Derivatives Research, Financial Crisis, Business News

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...

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

Joseph A. Palermo | Posted 10.18.2009 | Politics

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.

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Markopolos: Credit Default Swaps Bigger Scam Than Madoff

New York Post | Posted 09.12.2009 | Business

Read More: Cds, Aig, Ponzi Scheme, Harry Markopolos, Credit Default Swaps, Madoff Scandal, Bernie Madoff, Business News

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 ...

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Obama Proposes New Derivatives Rules

AP | MARCY GORDON | Posted 09.11.2009 | Business

Read More: Derivatives, Over-the-Counter Derivatives, Credit Default Swaps, Commidity Futures Trading Commission, Securities Exchange Commission, Gary Gensler, Business News

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

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Derivatives Regulation: Credit Default Swaps Are Targeted In New Bill

Reuters | Rachelle Younglai and Charles Abbott | Posted 08.27.2009 | Business

Read More: Aig, Derivatives, House Agriculture Committee Derivatives Market, Credit Default Swaps, Naked Default Swaps, Business News

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

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

Max Keiser | Posted 08.24.2009 | Business

Read More: Fraud, Goldman Sachs, Paulson, Bernanke, Madness, Financial Fiction, Credit Default Swaps, Wall St., Business News

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.

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Too Little, Too Late For Derivatives Oversight

Jill Keto | Posted 08.17.2009 | Business

Read More: Investing, Cdo, Economics, Stocks, Economy, Derivatives, Otc, Personal Finance, Credit Default Swaps, Recession, Business News

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

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The Greening of Goldman Sachs

David Paul | Posted 08.16.2009 | Business

Read More: Robert Rubin, Goldman Sachs, Fdic, TARP Money, Aig, Henry Paulson, Credit Default Swaps, Citigroup, Business News

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.

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

Barbara Garson | Posted 08.13.2009 | Business

Read More: Bailout, Lehman Brothers, Speculation, Subprime Mortgage Crisis, Aig, Bear Stearns, Credit Default Swaps, Mortgage-Backed Securities, Barclays, Business News

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

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Are Our Financial Markets Being Manipulated?

Danny Schechter | Posted 08.08.2009 | Business

Read More: Stock Rigging, Goldman Sachs, Credit Default Swaps, FInancial Markets, Manipuation, Business News

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.

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

David Fiderer | Posted 07.18.2009 | Business

Read More: Financial Crisis, Credit Default Swaps, George Soros, Financial TImes, Subprime Mortgages, Wall Street Journal, Business News

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.

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Financial Crisis: Clinton's Role

Washington Post | Ezra Klein | Posted 06.28.2009 | Business

Read More: Regulating-Derivatives, Bill Clinton, Credit Derivatives, Derivatives, Financial Crisis, Credit Default Swaps, President Clinton, Financial Regulation, Business News

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...

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