Is AIG a Precious Metal Manipulator?

Further to this Zero Hedge post note the following from CPM Group’s Mr Christian:

Bullion Banking Explained (dated Feb 2000):

Many banks use factor loadings of 5 to 10 for their gold and silver, meaning that they will loan or sell 5 to 10 times as much metal as they have either purchased or . . . → Read More: Is AIG a Precious Metal Manipulator?

The Continuing AIG Hellstorm: Jihad Bailout and Money Laundering

Pamela over at Atlas Shrugs has been doing an exceptional job exposing the Jihad bailout of AIG.  To go along with being a terrible hedge fund manager in AIGFP, it just so happens that “AIG was (and still is) the world leader in promoting Sharia-compliant insurance products.”  The problem?  As noted in the press . . . → Read More: The Continuing AIG Hellstorm: Jihad Bailout and Money Laundering

The Impending AIG Hellstorm

Zero Hedge (with help from the Huffington Post) has been all over the biggest fraud perpetrated by the government in economic history.  While trying to avoid some of the minutiae of the transactions that took place, below are some of the highly poignant issues to come out of HuffPo’s (shockingly!) and Zero Hedge’s excellent . . . → Read More: The Impending AIG Hellstorm

How Much Pay is Too Much?

With the recent news that the new CEO of AIG is going to receive $7 million in salary, the topic of executive compensation is back in the headlines.  Some people believe that the pay package of incoming CEO Robert Benmosche is a sign that Wall Street is still out of touch with reality, and . . . → Read More: How Much Pay is Too Much?

The Contributions of AIG in Perspective, Who Wrecked Them

I just spent an hour today going through American International Group’s last twenty years of Annual Reports, finding out how much tax AIG has paid over the last 20 years, working out estimates of how much tax its employees have paid on their incomes and how much has been remitted to the Treasury on . . . → Read More: The Contributions of AIG in Perspective, Who Wrecked Them

At the Heart of the Problem is the Task of Fixing the Financial Architecture

Hank Paulson has an article in the Financial Times where he emphasises that a key part of fixing financial regulation in the US is the task of changing the architecture of financial regulation. This is essential for avoiding problems like AIG being regulated by the State of New York. As he says:

Creating . . . → Read More: At the Heart of the Problem is the Task of Fixing the Financial Architecture

The Emperor Has No Clothes

What we are seeing right now are the kinds of last ditch efforts that reveal how truly inept and desperate our leaders are. First there is the AIG bonus fiasco, a case study in the bumbling incompetence of the representatives in charge of containing the financial fallout (ironically the very people that preempted it). . . . → Read More: The Emperor Has No Clothes

In Defense of Speculators, Part III: Credit-Default Swaps

Not so long ago, AIG was the world’s largest insurer. In the year 2000, its value peaked at over $265 billion, and just one year ago, the insurance giant was worth nearly $170 billion. But last month, facing bankruptcy, the once-proud AIG—now worth a mere $2.65 billion—became the largest welfare recipient in U.S. history, . . . → Read More: In Defense of Speculators, Part III: Credit-Default Swaps

Thanks VIX, But I Don’t Need Your ‘Fear Index’ to Tell Me People Are Nervous About the Economy

Why, oh why, did the biggest financial crisis since the Great Depression have to hit during a presidential election year?

The ‘Fear Index’, also known as the VIX (or, officially, the Chicago Board Options Exchange Volatility Index) is a financial tool that measures market swings or volatility. The higher the VIX goes, the scarier . . . → Read More: Thanks VIX, But I Don’t Need Your ‘Fear Index’ to Tell Me People Are Nervous About the Economy

Sweden’s Financial Bailout Plan: What the U.S. Can Learn From It

In recent history, governments have nationalized banks when the pressures of internationalized financial markets and international competition have made it difficult for them to control and stabilize their finances and currency. During the last couple of decades, countries as different as Mexico, France, Sweden, and Japan carried out partial or more or less . . . → Read More: Sweden’s Financial Bailout Plan: What the U.S. Can Learn From It