2008 Crisis
2008-09-12_Federal_Reserve_Bank_AIG_Meeting_Notes
2008-09-12_Federal_Reserve_Bank_AIG_Meeting_Notes 2008 0912 – AIG Meeting Notes – 2p AIG – Jacob Frenkel (Vice Chairman), Steve Bensinger (CFO), David Herzog (SVP & Comptroller), Robert Gender (VP & Treasurer), Alan Pryor (EVP – Financial Services Division) FRBNY – Trish Mosser, Jim Mahoney, Bill Dudley AIG is facing serious liquidity issues that threaten its survival viability. Rating…
Read MoreAIG – Unwinding
AIG – Unwinding Q: Did Insurance Regulators tell AIG to Wind-Down their Securities Lending Business? Unwinding in event of bankruptcy is likely to be very messy, because derivatives book is large and complex $2.7 Trillion, largely of very long-term structure products. 2008 0912 – FCIC – FRBNY / AIG Meeting Notes – 2p 2010 -…
Read More2008 0912 – FCIC – 2008-09-12 Alejandro LaTorre Email to Geithner et al re Update on AIG
2008 0912 – FCIC – 2008-09-12 Alejandro LaTorre Email to Geithner et al re Update on AIG 2008 0912 – FCIC – 2008-09-12 Alejandro LaTorre Email to Geithner et al re Update on AIG – 2p 2008 0913 – FCIC – FRB (Brian Peters/NY/FRS) -FRBNYAIG00510 We met with senior executives at AIG to discuss both their…
Read MoreAIG – Causes of Collapse
AIG – Causes of Collapse AIGFP CDS Communication Failures GICs / GIAs – Guaranteed Investment Contracts, Lack of Capital to back up Obligations Management Failures Mortgage Backed Securities Rating Downgrades Regulation OTS States Repos Risk Management Failures Securities Lending June COP Report COP Hearing – Silvers / Millstein Lloyd C. Blankfein, Chairman and CEO, The…
Read MoreLessons Learned – 2008 Financial Crisis
2008 Financial Crisis Lessons YPFS Lessons Learned Oral History Project – [link] One important lesson of the recent crisis is that as financial products and services proliferate and become more complex, they often fall through the regulatory cracks. (p16) — Testimony of Ann Yerger, Executive Director – Council of Institutional Investors – 106p 2009 0729 -…
Read MoreRichard Shelby
Richard Shelby Richard Shelby (R-AL) 1986-1994 – US Senator (Democrat) 1994-2023 – US Senator (Republican) Military AIG Dodd-Frank 2010 0813 – Letter – Senator Richard Shelby (R-AL) to Chris Dodd (D-CT) – 1p Recent press reports have raised concerns…. Because the regulation of insurance falls under the Banking Committee’s jurisdiction, it is the Committee’s obligation…
Read MoreQ: AIG – Where Did The Money Go?
Q: AIG – Where Did The Money Go? Q: AIG – Where Did the Money Go? – Securities Lending 2009 0315 – AIG Press Release – AIG Discloses Counterparties To CDS, GIA And Securities Lending Transactions – 6p Hank Greenberg (Former AIG CEO) – FCIC Interview – mp3 <78B?> She explained that most of the money drawn from…
Read More2008 Financial Crisis – Contagion
Contagion – 2008 From: “Habayeb, Elias” Sent: 09/16/2008 07:16 AM To: Alejandro LaTorre Cc: “Frenkel, Dr. Jacob A.” <[email protected] > Subject: FX Settlement Failures Alex, It seems that Barclays, JPM and Deutsche Bank are holding back on the amounts they owe us under FX transactions. If this continues, the amounts are in the billions. This…
Read More2009 0318 – GOV (House) – American International Group’s Impact on the Global Economy – Paul Kanjorski (D-PA)
2009 0318 – GOV (House) – American International Group’s Impact on the Global Economy 2009 0318 – GOV (House) – American International Group’s Impact on the Global Economy – Paul Kanjorski (D-PA) — [BonkNote] [PDF-380p, [VIDEO-CSPAN-Ed Liddy-AIG-CEO] Edward Libby testified about operations and business practices at American International Group (AIG) before, during, and after federal…
Read MoreAIG – IntraCompany Lending
AIG – IntraCompany Lending 2007 0611 – OTS – Office of Thrift Supervison Holding Company Report Of Examination of AIG – 52p p37 – The following table lists AIG’s significant intra-group transactions (IGT) as of March 31, 2007. $6.1 billion in Loans: From American General Life Insurance Co to AIG Financial Products Corp Richard Scott – FCIC…
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