Doug Slape
Doug Slape
- (James) Doug Slape
- ?-2008-? Chief Deputy Commissioner of the Texas Department of Insurance
- 2021 1214 – Slape receives the NAIC Robert Dineen Award for outstanding service – [link]
- 2008 0627 – Bloomberg – AIG to Absorb $5 Billion Loss on Securities Lending: Insurance Units Wrote Down $13B Tied To Mortgages, by Miles Weiss – [BonkNote]
- 2008 1010 – WSJ – AIG Increases Borrowings While Racing to Sell Assets, by Liam Pleven, Carrick Mollenkamp and Craig Karmin – [link]
- (p113 of 251) – In fact, the situation grew dire enough that by the first week of September, Texas-which was home to some of AIG’s biggest subsidiary insurance companies and would have been affected disproportionately if AIG tried to raid those companies’ holdings-had drawn up a draft letter outlining its plans to seize control of four AIG subsidiary companies, including American General.
- (p113 of 251) – “We got active in stepping in to protect those companies from being swallowed up in what was happening with the overall AIG picture,” says Doug Slape of the Texas Department of Insurance.
- (p113 of 251) – “Texas was definitely very aggressive,” says [Eric] Dinallo
- (p114 of 251) – It gets worse. Had Texas gone ahead and seized those subsidiaries, all the other states that had AIG subsidiaries headquartered within their borders would almost certainly have followed suit. A full-blown run on AIG’s subsidiary holdings would likely have gone into effect, creating a real-world financial catastrophe. “It would have been ugly,” says Dinallo. Thousands if not tens or hundreds of thousands of people would have seen their retirement and insurance nest eggs depleted to a fraction of their value, overnight.
2010 – Book – Griftopia, by Matt Taibbi — [BonkNote]
- 2008 1009 – WSJ – Further Loan To AIG Shows Fed Miscalculated Risks, By Liam Pleven, Carrick Mollenkamp and Craig Karmin – [link] – <WishList? – Original Copy>
- AIG’s securities-lender clients flooded the program for their collateral, creating a “mini-run” on the bank, says Doug Slape, chief financial analyst of the Texas Department of Insurance.
- The company began drawing down on the Fed loan commitment to cover the collateral requests, it told Mr. Slape in recent conversations, he said.
- By Oct. 3, Moody’s Investors Service said AIG’s default-insurance and securities-lending program had experienced “substantial losses and write-downs” due to mortgage securities.
- The Texas regulator grew concerned about the exposure in 2007.
- At the time, AIG told Texas it recognized that it needed to retain more cash, Mr. Slape said.
- The Texas regulator grew concerned about the exposure in 2007.
- At the time, AIG told Texas it recognized that it needed to retain more cash, Mr. Slape said.
2008 1010 – WSJ – AIG Increases Borrowings While Racing to Sell Assets, by Liam Pleven, Carrick Mollenkamp and Craig Karmin – [link]
- Securities Lending, Doug Slape
- 2009 0305 – GOV (House) – Perspectives on Systemic Risk, Paul Kanjorski (D-PA) — [BonkNote]
- 20xx – LC – American International Group, Inc. ERISA Litigation II – 1:08-cv-05722
- 2012 – Document 137 – Consolidated Second Amended Complaint – 230p
- Doug Slape, chief financial analyst of the Texas Department of Insurance
- 2012 – Document 137 – Consolidated Second Amended Complaint – 230p
- “We were aware of this portfolio but we didn’t have transparency on what was in it because it was off-balance sheet” in the company’s statutory accounting reports, said Doug Slape, chief analyst at the Texas Department of Insurance, which oversees three AIG insurers that have suffered about 60% of the write downs.
2008 0627 – Bloomberg News – AIG to Absorb $5 Billion Loss on Securities Lending, by Miles Weiss
2008 0627 – Reuters – AIG To Lose Up To $5 Billion From Investments: Report – [link]
2013 – AP – Repercussions: The Impact of the AIG Bailout on it’s Insurance Subsidiaries, Shauna Ferris, Presented to the Actuaries Institute Actuaries Summit – 34p
