Gorbachofff
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Como se descuiden, se ponen por debajo de 1 en preapertura... Y los asiáticos cancelando pólizas como locos.
*Tema mítico* : EEUU "nacionaliza" AIG para evitar colapso (17-9-2008)
- Autor del tema MNSV
- Fecha de inicio
¿Quién está comprando a quién?
The Federal Reserve Bunk
"No Congress, no President has been strong enough to stand up to the foreign-controlled Federal Reserve Bank. Yet there is a catch - one that President Kennedy recognized before he was slain - the original deal in 1913 creating the Federal Reserve Bank had a simple backout clause. The investors loaned the United States Government $1 billion. And the backout clause allows the United States to buy out the system for that $1 billion. If the Federal Reserve Bank were demolished and the Congress of the United States took control of the currency, as required in the Constitution, the National Debt would virtually end overnight, and the need for more taxes and even the income tax, itself. Thomas Jefferson was concise in his early warning to the American nation, "If the American people ever allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered."
The Federal Reserve Bunk
"FOREIGN BANKERS OWN MAJORITY OF FEDERAL RESERVE
More that half the shareholdings in the Federal Reserve Bank arc controlled by large New York City banks, including National City Bank, National Bank of Commerce, First National Bank, Chase National Bank, and Marine National Bank. When Rockefeller's National City Bank merged with J.P. Morgan's First National Bank in 1955, the Rockefeller group owned 22 percent of the shares of the Federal Reserve Bank of New York, which in turn holds the majority of shares in the Federal Reserve System - 53 percent. But who really owns what? Here arc the top controllers of the Federal Rwerve Bank
1. Rothchild banks of London and Berlin.
2. Lazard Brothers Banks of Paris.
3. Israel Moses Seif Banks of Italy.
4. Warburg Bank of Hamburg and Amsterdam.
5. Lehman Brothers Bank of New York.
6. Kuhn, Loeb bank of New York.
7. Chase Manhattan Bank of New York, which controls all of the other 11 Federal Rwerve Banks.
8. Goldman, Sachs Bank of New York.
This ownership combination has been challenged by the Federal Reserve Bank, but a study of Standards and Poors will verify the ownerships. This means that the controlling interest of our national monetary system is foreign. In 1797, John Adams wrote to Thomas Jefferson, "All the perplexities, confusion and distress in America arise, not from defects of the Constitution or Confederation; not from any want of honor or virtue, as much as downright ignorance of the nature of coin, credit and circulation." In simple terms, the United States Government borrows money from the Federal Reserve Bank with interest. Here is how it works: The Government wants $1 billion. The Federal Reserve prints $1 billion - based upon no hard asset - and lends it to the Government at a high interest rate. The bank did not have the original money, it created it and made a bookkeeping entry - like you writing yourself a check without funds and cashing it. The Federal Reserve controls the flow of money, making it tight and creating unemployment or printing more than actually exists and creates inflation. It is, in wessence, a paper corporation, which controls the entire economic well-being of the nation".
The Federal Reserve Bunk
"No Congress, no President has been strong enough to stand up to the foreign-controlled Federal Reserve Bank. Yet there is a catch - one that President Kennedy recognized before he was slain - the original deal in 1913 creating the Federal Reserve Bank had a simple backout clause. The investors loaned the United States Government $1 billion. And the backout clause allows the United States to buy out the system for that $1 billion. If the Federal Reserve Bank were demolished and the Congress of the United States took control of the currency, as required in the Constitution, the National Debt would virtually end overnight, and the need for more taxes and even the income tax, itself. Thomas Jefferson was concise in his early warning to the American nation, "If the American people ever allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered."
The Federal Reserve Bunk
"FOREIGN BANKERS OWN MAJORITY OF FEDERAL RESERVE
More that half the shareholdings in the Federal Reserve Bank arc controlled by large New York City banks, including National City Bank, National Bank of Commerce, First National Bank, Chase National Bank, and Marine National Bank. When Rockefeller's National City Bank merged with J.P. Morgan's First National Bank in 1955, the Rockefeller group owned 22 percent of the shares of the Federal Reserve Bank of New York, which in turn holds the majority of shares in the Federal Reserve System - 53 percent. But who really owns what? Here arc the top controllers of the Federal Rwerve Bank
1. Rothchild banks of London and Berlin.
2. Lazard Brothers Banks of Paris.
3. Israel Moses Seif Banks of Italy.
4. Warburg Bank of Hamburg and Amsterdam.
5. Lehman Brothers Bank of New York.
6. Kuhn, Loeb bank of New York.
7. Chase Manhattan Bank of New York, which controls all of the other 11 Federal Rwerve Banks.
8. Goldman, Sachs Bank of New York.
This ownership combination has been challenged by the Federal Reserve Bank, but a study of Standards and Poors will verify the ownerships. This means that the controlling interest of our national monetary system is foreign. In 1797, John Adams wrote to Thomas Jefferson, "All the perplexities, confusion and distress in America arise, not from defects of the Constitution or Confederation; not from any want of honor or virtue, as much as downright ignorance of the nature of coin, credit and circulation." In simple terms, the United States Government borrows money from the Federal Reserve Bank with interest. Here is how it works: The Government wants $1 billion. The Federal Reserve prints $1 billion - based upon no hard asset - and lends it to the Government at a high interest rate. The bank did not have the original money, it created it and made a bookkeeping entry - like you writing yourself a check without funds and cashing it. The Federal Reserve controls the flow of money, making it tight and creating unemployment or printing more than actually exists and creates inflation. It is, in wessence, a paper corporation, which controls the entire economic well-being of the nation".
Gorbachofff
Madmaxista
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Hay imágenes que valen más que mil palabras.
Abraham
Madmaxista
No entiendo como algo así no es de enseñanza obligatoria en los Estados Unidos, o aquí.
Fraga II
Madmaxista
¿Pero esto quién lo controlaba? · ELPAÍS.com
¿Pero esto quién lo controlaba?
Ningún supervisor vigilaba el negocio de AIG dedicado a cubrir el impago de deuda
A. G. 21/09/2008
Las cuentas de la aseguradora American International Group (AIG) no dejan lugar a dudas. Según los datos remitidos por la propia compañía al regulador el pasado mes de junio, "aproximadamente 307.000 millones de dólares de una cartera de 441.000 millones de AIG en instrumentos destinados a cubrir contra el impago de la deuda (Credit Default Swaps, CDS) representan derivados suscritos por entidades financieras, sobre todo en Europa, con el objetivo más de proporcionar cierto alivio a las restricciones de capital que a mitigar su riesgo".
Toda una declaración sobre el verdadero propósito de una parte muy importante de su negocio contra el que las autoridades poco podían hacer y que dejan al descubierto las debilidades del sistema financiero estadounidense.
Los CDS son un mercado escasamente regulado. El regulador bursátil, la SEC, no podía intervenir porque estos instrumentos no cotizan en Bolsa. Tampoco podía hacerlo el regulador de seguros, porque no se trataba de una póliza de seguros propiamente dicha. Como resultado, un mercado equivalente al 8% de la Bolsa de Nueva York completamente fuera de todo control.
Con ese seguro como respaldo de las emisiones de deuda, las autoridades regulatorias reducían sus exigencias de capital a las entidades, que disponían así de más liquidez para invertir. Además, esas entidades veían cómo las calificadoras les otorgaban sin dificultades el mayor grado de inversión, la triple A, lo que a su vez les rebajaba el coste de financiación. El riesgo sistémico de una posible quiebra de AIG era, pues, evidente.
Como ha reconocido el propio presidente del Bank of America, Kenneth Lewis, "no conozco a ningún banco que no tuviera intereses en AIG". Y eso es lo que ha decantado, según los expertos, que la Reserva Federal haya acudido al rescate de una aseguradora y haya dejado caer a un banco, como es el caso de Lehman Brothers. "Ha sido su interconexión [con el sistema financiero] y el miedo a lo desconocido", explicaba Robert Altman, antiguo alto cargo del Tesoro bajo la presidencia de Bill Clinton.
Eso puede explicar la actuación de la Administración en su rescate, pero no el origen de sus problemas. El presidente del comité de servicios financieros de la Cámara de Representantes, el demócrata Barney Frank, aseguraba esta semana que esta crisis "deja más que demostrado que la falta de regulación ha causado serios problemas. El mercado privado se ha dañado solo y necesita al Gobierno para ayudarle y aliviarle".
Tampoco son menores los problemas de supervisión. El sistema estadounidense cuenta con numerosas entidades, federales y regionales, dedicadas a supervisar el sistema financiero, pero no están adaptadas al nivel de sofisticación y complejidad de muchos de sus productos.
Por ejemplo, en el caso de las hipotecas basura, el regulador bursátil no podía investigar muchos de los contratos firmados porque lo eran en el ámbito privado. El supervisor bancario no está autorizado a fiscalizar a los prestamistas no bancarios, mientras que la oficina de ahorro sólo vigila los planes de pensiones.
Ante el alcance de la crisis, la sociedad estadounidense parece que empieza a cambiar una mentalidad compartida con independencia del partido que se apoye y que se remonta a los días de la presidencia del demócrata Jimmy Carter, cuando aprobó la Ley de Desregulación de las Aerolíneas, en 1978. -
¿Pero esto quién lo controlaba?
Ningún supervisor vigilaba el negocio de AIG dedicado a cubrir el impago de deuda
A. G. 21/09/2008
Las cuentas de la aseguradora American International Group (AIG) no dejan lugar a dudas. Según los datos remitidos por la propia compañía al regulador el pasado mes de junio, "aproximadamente 307.000 millones de dólares de una cartera de 441.000 millones de AIG en instrumentos destinados a cubrir contra el impago de la deuda (Credit Default Swaps, CDS) representan derivados suscritos por entidades financieras, sobre todo en Europa, con el objetivo más de proporcionar cierto alivio a las restricciones de capital que a mitigar su riesgo".
Toda una declaración sobre el verdadero propósito de una parte muy importante de su negocio contra el que las autoridades poco podían hacer y que dejan al descubierto las debilidades del sistema financiero estadounidense.
Los CDS son un mercado escasamente regulado. El regulador bursátil, la SEC, no podía intervenir porque estos instrumentos no cotizan en Bolsa. Tampoco podía hacerlo el regulador de seguros, porque no se trataba de una póliza de seguros propiamente dicha. Como resultado, un mercado equivalente al 8% de la Bolsa de Nueva York completamente fuera de todo control.
Con ese seguro como respaldo de las emisiones de deuda, las autoridades regulatorias reducían sus exigencias de capital a las entidades, que disponían así de más liquidez para invertir. Además, esas entidades veían cómo las calificadoras les otorgaban sin dificultades el mayor grado de inversión, la triple A, lo que a su vez les rebajaba el coste de financiación. El riesgo sistémico de una posible quiebra de AIG era, pues, evidente.
Como ha reconocido el propio presidente del Bank of America, Kenneth Lewis, "no conozco a ningún banco que no tuviera intereses en AIG". Y eso es lo que ha decantado, según los expertos, que la Reserva Federal haya acudido al rescate de una aseguradora y haya dejado caer a un banco, como es el caso de Lehman Brothers. "Ha sido su interconexión [con el sistema financiero] y el miedo a lo desconocido", explicaba Robert Altman, antiguo alto cargo del Tesoro bajo la presidencia de Bill Clinton.
Eso puede explicar la actuación de la Administración en su rescate, pero no el origen de sus problemas. El presidente del comité de servicios financieros de la Cámara de Representantes, el demócrata Barney Frank, aseguraba esta semana que esta crisis "deja más que demostrado que la falta de regulación ha causado serios problemas. El mercado privado se ha dañado solo y necesita al Gobierno para ayudarle y aliviarle".
Tampoco son menores los problemas de supervisión. El sistema estadounidense cuenta con numerosas entidades, federales y regionales, dedicadas a supervisar el sistema financiero, pero no están adaptadas al nivel de sofisticación y complejidad de muchos de sus productos.
Por ejemplo, en el caso de las hipotecas basura, el regulador bursátil no podía investigar muchos de los contratos firmados porque lo eran en el ámbito privado. El supervisor bancario no está autorizado a fiscalizar a los prestamistas no bancarios, mientras que la oficina de ahorro sólo vigila los planes de pensiones.
Ante el alcance de la crisis, la sociedad estadounidense parece que empieza a cambiar una mentalidad compartida con independencia del partido que se apoye y que se remonta a los días de la presidencia del demócrata Jimmy Carter, cuando aprobó la Ley de Desregulación de las Aerolíneas, en 1978. -
como traga el niño, 25.000.000.000$ cada semanita
Bloomberg.com: Worldwide
AIG May Get $37.8 Billion From Fed for More Liquidity (Update1)
By Scott Lanman and Hugh Son
Oct. 8 (Bloomberg) -- The Federal Reserve will provide as much as $37.8 billion in additional liquidity to American International Group Inc.'s regulated insurance units after rescuing the company with an $85 billion loan last month.
The Fed board used emergency powers to authorize the New York Fed to borrow up to $37.8 billion in investment-grade, fixed-income securities from AIG in return for cash collateral, the Fed said in a statement. The action will help AIG ``replenish liquidity'' and provide ``enhanced credit protection to the New York Fed and U.S. taxpayers,'' the Fed said.
Chief Executive Officer Edward Liddy, appointed by the U.S. to run the firm, has been trying to sell units to repay the original loan, which he had said was big enough. AIG, running short on cash after three quarterly losses of more than $18 billion, agreed Sept. 16 to a government takeover in which the U.S. received a 79.9 percent stake.
The collapse of the New York-based insurer was the subject of Congressional hearings yesterday, which triggered criticism of the company for spending $440,000 on a California conference at a beachside resort less than a week after AIG was rescued.
To contact the reporters on this story: Scott Lanman in Washington at slanman@bloomberg.net; Hugh Son in New York at hson1@bloomberg.net
Last Updated: October 8, 2008 17:10 EDT
Bloomberg.com: Worldwide
AIG May Get $37.8 Billion From Fed for More Liquidity (Update1)
By Scott Lanman and Hugh Son
Oct. 8 (Bloomberg) -- The Federal Reserve will provide as much as $37.8 billion in additional liquidity to American International Group Inc.'s regulated insurance units after rescuing the company with an $85 billion loan last month.
The Fed board used emergency powers to authorize the New York Fed to borrow up to $37.8 billion in investment-grade, fixed-income securities from AIG in return for cash collateral, the Fed said in a statement. The action will help AIG ``replenish liquidity'' and provide ``enhanced credit protection to the New York Fed and U.S. taxpayers,'' the Fed said.
Chief Executive Officer Edward Liddy, appointed by the U.S. to run the firm, has been trying to sell units to repay the original loan, which he had said was big enough. AIG, running short on cash after three quarterly losses of more than $18 billion, agreed Sept. 16 to a government takeover in which the U.S. received a 79.9 percent stake.
The collapse of the New York-based insurer was the subject of Congressional hearings yesterday, which triggered criticism of the company for spending $440,000 on a California conference at a beachside resort less than a week after AIG was rescued.
To contact the reporters on this story: Scott Lanman in Washington at slanman@bloomberg.net; Hugh Son in New York at hson1@bloomberg.net
Last Updated: October 8, 2008 17:10 EDT
Blackout
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Sin duda el plan de rescate ha sido muy efectivo...
Portafolio.com.co - Finanzas -> Tras rescate de AIG, ejecutivos de esa empresa gastaron 440.000 dólares en hotel de 1.000 dólares la noche
Portafolio.com.co - Finanzas -> Tras rescate de AIG, ejecutivos de esa empresa gastaron 440.000 dólares en hotel de 1.000 dólares la noche
Portafolio.com.co - Finanzas -> Tras rescate de AIG, ejecutivos de esa empresa gastaron 440.000 dólares en hotel de 1.000 dólares la noche
Portafolio.com.co - Finanzas -> Tras rescate de AIG, ejecutivos de esa empresa gastaron 440.000 dólares en hotel de 1.000 dólares la noche
AIG pide a papa Estado que le suba la semanada
http://www.bloomberg.com/apps/news?pid=20601087&sid=a0ux5cyEk3kg&refer=home
AIG's Liddy Says $122.8 Billion `May Not Be Enough' (Update1)
By Hugh Son
Oct. 23 (Bloomberg) -- American International Group Inc., the insurer bailed out by the U.S., may need to borrow more than the $122.8 billion already offered by the government if capital markets don't improve, said Chief Executive Officer Edward Liddy.
AIG, which averted collapse last month with a Federal Reserve loan, is dependent on ``what happens to the capital markets,'' Liddy, 62, said late yesterday on PBS's ``The NewsHour With Jim Lehrer.'' AIG needed cash after credit downgrades forced the insurer to post more than $10 billion in collateral to clients who purchased guarantees on bonds that lost value.
``To the extent they continue to go down and we have to keep posting collateral, as it's called in the vernacular of the industry, it's possible it may not be enough,'' Liddy said.
Liddy, the former Allstate Corp. CEO appointed by the government to run AIG last month, is selling businesses including U.S. life insurance, plane leasing and consumer finance to repay the loan. The New York-based company had tapped $82.9 billion, two-thirds of its total Fed credit line, as of last week and new figures may be disclosed today.
``This emphasizes the uncertainty for anyone trying to put a number'' on AIG's cash needs, said Bill Bergman, an analyst at Morningstar Inc. in Chicago. The financial products unit responsible for most of the firm's losses ``is a big black hole.''
Liddy said in the interview that he still hopes to stay within the $122.8 billion ceiling and that U.S. Treasury efforts to spur lending and increase confidence in banks ``seem to be working.'' A spokesman for the New York Fed declined to comment. Brookly McLaughlin, spokeswoman for the Treasury, didn't immediately return a call seeking comment.
`Liquidity Drain'
``The money is to meet our cash needs while we work out the rest of our solution, it's not the total solution,'' said AIG spokesman Nicholas Ashooh. ``We still have to sell businesses and still need a permanent solution to the liquidity drain'' from securities lending and the fixed-income guarantees known as credit-default swaps.
AIG, which got an $85 billion credit line on Sept. 16 to stave off bankruptcy, was given access to an additional $37.8 billion on Oct. 8 to shore up its securities-lending program, which lost money on investments made using collateral from assets it loaned to third parties. AIG agreed to turn over an 80 percent stake in the firm to the U.S. in exchange for the first loan.
The insurer may seek a third source of cash by tapping a Fed program that buys commercial paper, a person familiar with the matter said last week. AIG will probably borrow less than $10 billion through the program, which is scheduled to start next week, the person said.
`Lost Our Way'
AIG sold protection on $441 billion of fixed-income investments, including $57.8 billion in securities tied to subprime mortgages. The swaps plunged in value as the assets they guaranteed declined, forcing $25 billion in writedowns over nine months and leading to three quarterly losses.
``We kind of lost our way, AIG did, and we got out of the basic insurance business that we know so well,'' Liddy said yesterday. ``Within the first two or three weeks of taking that loan, we were at the $69 billion level, so anyone who thinks we didn't need the Federal Reserve as a lifesaver simply doesn't understand the precarious nature of where we were.''
The government ``threw us a lifeline which we desperately needed so that the rest of the financial system wouldn't be contaminated,'' he said.
Liddy told employees on Sept. 18 that the original $85 billion loan was ``a really big number, I think that's enough.'' In an Oct. 3 conference call with analysts, he said that he didn't want to state the company would ``never'' need more.
Lessons Learned
``One of the lessons from the savings and loan crisis is that firms that were going under forestalled the recognition of how severe the problem was through accounting, and with the cooperation of regulators,'' Bergman said. ``I certainly hope that's not happening with AIG today.''
AIG's losses have led to the ousters of two CEOs, Martin Sullivan and Robert Willumstad, in the last five months. The executives were lambasted by lawmakers at an Oct. 7 hearing on why the government needed to intervene to save AIG.
The insurer agreed to freeze $19 million due to Sullivan and $600 million in compensation for other executives, New York Attorney General Andrew Cuomo said yesterday. Cuomo last week demanded that AIG, once the world's biggest insurer, stop ``extravagant'' expenditures and recover millions of dollars in unreasonable payments, or face legal action.
Bad Trip
AIG also agreed last week to immediately cancel all junkets and perks, according to a statement jointly issued by Cuomo and the company. The company has been castigated by officials since it hosted a $440,000 conference at a California resort last month after agreeing to the federal bailout.
The insurer will pay 8.5 percent annual interest plus the 3- month London interbank offered rate on money it draws from the two-year, $85 billion loan. Three-month Libor is 3.54 percent today, compared with 2.88 percent the day AIG agreed to the bailout.
AIG later said it would also be allowed to swap as much as $37.8 billion of its ``investment-grade, fixed income securities'' with the government for cash to address a liquidity squeeze caused by the insurer's securities-lending program.
``We have to behave in a much different way,'' Liddy said. ``Just as the American consumer is tightening their belt, we are tightening our belt.''
To contact the reporter on this story: Hugh Son in New York at hson1@bloomberg.net
Last Updated: October 23, 2008 16:08 EDT
http://www.bloomberg.com/apps/news?pid=20601087&sid=a0ux5cyEk3kg&refer=home
AIG's Liddy Says $122.8 Billion `May Not Be Enough' (Update1)
By Hugh Son
Oct. 23 (Bloomberg) -- American International Group Inc., the insurer bailed out by the U.S., may need to borrow more than the $122.8 billion already offered by the government if capital markets don't improve, said Chief Executive Officer Edward Liddy.
AIG, which averted collapse last month with a Federal Reserve loan, is dependent on ``what happens to the capital markets,'' Liddy, 62, said late yesterday on PBS's ``The NewsHour With Jim Lehrer.'' AIG needed cash after credit downgrades forced the insurer to post more than $10 billion in collateral to clients who purchased guarantees on bonds that lost value.
``To the extent they continue to go down and we have to keep posting collateral, as it's called in the vernacular of the industry, it's possible it may not be enough,'' Liddy said.
Liddy, the former Allstate Corp. CEO appointed by the government to run AIG last month, is selling businesses including U.S. life insurance, plane leasing and consumer finance to repay the loan. The New York-based company had tapped $82.9 billion, two-thirds of its total Fed credit line, as of last week and new figures may be disclosed today.
``This emphasizes the uncertainty for anyone trying to put a number'' on AIG's cash needs, said Bill Bergman, an analyst at Morningstar Inc. in Chicago. The financial products unit responsible for most of the firm's losses ``is a big black hole.''
Liddy said in the interview that he still hopes to stay within the $122.8 billion ceiling and that U.S. Treasury efforts to spur lending and increase confidence in banks ``seem to be working.'' A spokesman for the New York Fed declined to comment. Brookly McLaughlin, spokeswoman for the Treasury, didn't immediately return a call seeking comment.
`Liquidity Drain'
``The money is to meet our cash needs while we work out the rest of our solution, it's not the total solution,'' said AIG spokesman Nicholas Ashooh. ``We still have to sell businesses and still need a permanent solution to the liquidity drain'' from securities lending and the fixed-income guarantees known as credit-default swaps.
AIG, which got an $85 billion credit line on Sept. 16 to stave off bankruptcy, was given access to an additional $37.8 billion on Oct. 8 to shore up its securities-lending program, which lost money on investments made using collateral from assets it loaned to third parties. AIG agreed to turn over an 80 percent stake in the firm to the U.S. in exchange for the first loan.
The insurer may seek a third source of cash by tapping a Fed program that buys commercial paper, a person familiar with the matter said last week. AIG will probably borrow less than $10 billion through the program, which is scheduled to start next week, the person said.
`Lost Our Way'
AIG sold protection on $441 billion of fixed-income investments, including $57.8 billion in securities tied to subprime mortgages. The swaps plunged in value as the assets they guaranteed declined, forcing $25 billion in writedowns over nine months and leading to three quarterly losses.
``We kind of lost our way, AIG did, and we got out of the basic insurance business that we know so well,'' Liddy said yesterday. ``Within the first two or three weeks of taking that loan, we were at the $69 billion level, so anyone who thinks we didn't need the Federal Reserve as a lifesaver simply doesn't understand the precarious nature of where we were.''
The government ``threw us a lifeline which we desperately needed so that the rest of the financial system wouldn't be contaminated,'' he said.
Liddy told employees on Sept. 18 that the original $85 billion loan was ``a really big number, I think that's enough.'' In an Oct. 3 conference call with analysts, he said that he didn't want to state the company would ``never'' need more.
Lessons Learned
``One of the lessons from the savings and loan crisis is that firms that were going under forestalled the recognition of how severe the problem was through accounting, and with the cooperation of regulators,'' Bergman said. ``I certainly hope that's not happening with AIG today.''
AIG's losses have led to the ousters of two CEOs, Martin Sullivan and Robert Willumstad, in the last five months. The executives were lambasted by lawmakers at an Oct. 7 hearing on why the government needed to intervene to save AIG.
The insurer agreed to freeze $19 million due to Sullivan and $600 million in compensation for other executives, New York Attorney General Andrew Cuomo said yesterday. Cuomo last week demanded that AIG, once the world's biggest insurer, stop ``extravagant'' expenditures and recover millions of dollars in unreasonable payments, or face legal action.
Bad Trip
AIG also agreed last week to immediately cancel all junkets and perks, according to a statement jointly issued by Cuomo and the company. The company has been castigated by officials since it hosted a $440,000 conference at a California resort last month after agreeing to the federal bailout.
The insurer will pay 8.5 percent annual interest plus the 3- month London interbank offered rate on money it draws from the two-year, $85 billion loan. Three-month Libor is 3.54 percent today, compared with 2.88 percent the day AIG agreed to the bailout.
AIG later said it would also be allowed to swap as much as $37.8 billion of its ``investment-grade, fixed income securities'' with the government for cash to address a liquidity squeeze caused by the insurer's securities-lending program.
``We have to behave in a much different way,'' Liddy said. ``Just as the American consumer is tightening their belt, we are tightening our belt.''
To contact the reporter on this story: Hugh Son in New York at hson1@bloomberg.net
Last Updated: October 23, 2008 16:08 EDT
Podría tener que renegociar términos del rescate
15:55 AMER INTL GROUP Gráficos | Noticias | Foros
La aseguradora podría verse obligada a renegociar los términos del rescate de 85.000 millones ejecutado por el Gobierno estadounidense ante las dificultades para vender determinadas unidades de la compañía. “Tendría sentido y sería pragmático para el Gobierno renegociar el acuerdo”, señaló a Bloomberg, David Havens, analista de UBS. En estos momentos, las acciones de AIG restan más de un 4% hasta los 1,96 dólares.
15:55 AMER INTL GROUP Gráficos | Noticias | Foros
La aseguradora podría verse obligada a renegociar los términos del rescate de 85.000 millones ejecutado por el Gobierno estadounidense ante las dificultades para vender determinadas unidades de la compañía. “Tendría sentido y sería pragmático para el Gobierno renegociar el acuerdo”, señaló a Bloomberg, David Havens, analista de UBS. En estos momentos, las acciones de AIG restan más de un 4% hasta los 1,96 dólares.
UNKPAR
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El lunes AIG presenta resultados...y ya no hablan de renegociar el rescate sino directamente de ampliarlo. AIG es un pozo sin fondo.
FT.com / Home UK / UK - AIG in talks with Fed over new bail-out
las cosas a su cauce
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De cárpatos...
Una frase para la reflexión:
...AIG publica resultados: cotiza a 2.09$ y la pérdida ajustada por acción es de -3.42$...Droblo...
Saludos...
Una frase para la reflexión:
...AIG publica resultados: cotiza a 2.09$ y la pérdida ajustada por acción es de -3.42$...Droblo...
Saludos...
Txeco
Madmaxista
Ale ... pues a reclamar $1.31 por cada acción que posean sus accionistas.
Pierde 24.500 millones en tercer trimestre
12:54 AMER INTL GROUP Gráficos | Noticias | Foros
La aseguradora estadounidense anunció este lunes una pérdida neta colosal de 24.500 millones de dólares en el tercer trimestre, en momentos en que las autoridades estadounidenses aumentaron a más de 150.000 millones de dólares la ayuda que le dan. La compañía de seguros dijo que la gerencia cree que tendrá la liquidez necesaria para seguir funcionando durante, al menos, otros doce meses.
UNKPAR
Madmaxista
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Una auténtica barbaridad. El mayor rescate en la historia financiera mundial: El monto final del costo del rescate de AIG podría llegar a ser equivalente al PIB de países como Ucrania, Hungría, Pakistán o Filipinas.
40.000 millones de los 700.000 millones del plan de Bush van directos a AIG
40.000 millones de los 700.000 millones del plan de Bush van directos a AIG
RESUMEN 1-AIG recibe 150.000 mln dlr de rescate de Gobierno EEUU | Reuters
