Credit Default Swaps

Goldman Sachs Driving YRC Trucking Into Bankruptcy, Hoffa Says

bloomberg.com | Pierre Paulden and Shannon D. Harrington | Posted 12.17.2009 | Business

Read More: Goldman Sachs, Credit Default Swaps, Truckers, Andy Stern, James Hoffa, Derivatives, International Brotherhood of Teamsters, YRC Trucking, Seiu, Business News

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

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Goldman Sachs Fueled AIG's Risky Gambles

Wall Street Journal | SERENA NG and CARRICK MOLLENKAMP | Posted 12.12.2009 | Business

Read More: Aig, Goldman Sachs and AIG, Goldman Sachs, Economy, Financial Crisis, Credit Default Swaps, Wall Street, Business News

Goldman Sachs Group Inc. played a bigger role than has been publicly disclosed in fueling the mortgage bets that nearly felled American Insurance Grou...

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Some Jobs Taxpayers Don't Need to Buy

Leo W. Gerard | Posted 12.03.2009 | Business

Read More: Beatles, John Lennon, Jobs Summit, Paul McCartney, Works Progress Administration, Credit Default Swaps, Cooper Tire, Paul Krugman, Newpage, Economic Policy Institute, Franklin Delano Roosevelt, U.S. International Trade Commission, Fdr, Great Depression, Business News
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.

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Geithner: $700B Bailout Program Will End Soon, Derivatives Allowed Banks To 'Write Their Own Rules' (VIDEO)

Posted 12.02.2009 | Business

Read More: Timothy Geithner, Credit Default Swaps, Bailout, Securities and Exchange Commission, Fiscal Policy, Business News

WASHINGTON (MARCY GORDON - AP) -- Treasury Secretary Timothy Geithner is affirming the administration's intent to soon end the $700 billion financial ...

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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
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.

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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
David Fiderer

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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Shahien Nasiripour

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
Joseph A. Palermo

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
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.

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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 12.03.2009 | 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
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?

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Life Insurance -- Bankers' New Best Friend

Christopher Brauchli | Posted 11.24.2009 | Business

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

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
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.

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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

Read More: Al Qaeda, "Ownership Society, Home Ownership Loan Corporation, Economic Crisis, President Barack Obama, Middle Class, George W. Bush, Congress, Credit Default Swaps, American Middle Class, President Franklin D. Roosevelt, " David Brooks, Upside Down Mortgages, Home Ownership, Wall Street, The New Deal, Steve Moore, Standard and Poor, Holc, Republican Party, Moody's, Barack Obama, Stephen Moore, Politics News
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.

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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
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.

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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
Jill Keto

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
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.

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