A U.S. Congressman has subpoenaed a document that makes it clearer how the feds may have used struggling insurer American International Group as the vehicle for bailing out Goldman Sachs Group. It’s becoming more obvious that there was a concerted effort to bottle up the facts of what caused the financial crisis. Continue reading Is the U.S. Hiding How it Bailed Out AIG and Goldman? Is the U.S. Hiding How it Bailed Out AIG and Goldman? originally appeared on DailyFinance on Tue, 23 Feb 2010 18:45:00. Filed Under: Goldman Sachs , American International Group , INC. Permalink | Tweet this! | Comments

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Is the U.S. Hiding How it Bailed Out AIG and Goldman?

The following is a round-up of news likely to affect stock prices today: Walmart Stores ( WMT ) said Thursday its fiscal fourth-quarter profit rose 21% to $4.6 billion, or $1.22 a share. On an adjusted basis Walmart earned $1.17 a share, topping analyst estimates for earnings of $1.12 a share, on average. Net sales in the quarter rose 4.6% to $112.8 billion. But first quarter and 2011 guidance… Continue reading Stocks in the News: Walmart, Hewlett-Packard, Daimler Stocks in the News: Walmart, Hewlett-Packard, Daimler originally appeared on DailyFinance on Thu, 18 Feb 2010 07:50:00. Permalink | Tweet this! | Comments

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Stocks in the News: Walmart, Hewlett-Packard, Daimler

Did Goldman Sachs Group ( GS ) force American International Group ( AIG ) into the arms of the U.S. government? AIG, the financial institution now 79.9%-owned by the U.S. Treasury, cost taxpayers $182.3 billion in cash and guarantees, and paid Goldman $12.9 billion as part of a backdoor bailout. Now, the The New York Times has the nerve to suggest that Goldman’s demands for money are what shoved AIG over the edge. Continue reading SEC Investigating Goldman Over AIG Collapse SEC Investigating Goldman Over AIG Collapse originally appeared on DailyFinance on Mon, 08 Feb 2010 16:29:00. Filed Under: Economy , Goldman Sachs , American International Group , INC. , Real Estate , Insurance Permalink | Tweet this! | Comments

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SEC Investigating Goldman Over AIG Collapse

Howard Stern may be headed back to terrestrial radio before long — but not if Mel Karmazin has his way. Continue reading Is Howard Stern Sirius About Leaving Satellite Radio? Is Howard Stern Sirius About Leaving Satellite Radio? originally appeared on DailyFinance on Wed, 03 Feb 2010 12:01:00. Filed Under: Company News , People , Media Permalink | Tweet this! | Comments

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Is Howard Stern Sirius About Leaving Satellite Radio?

The Washington Post reports that American International Group ( AIG ) is poised to pay workers in its Financial Products Group (FPG) a $100 million bonus today. FPG sold credit default swaps (CDSs), a form of bond insurance, without reserving against the possibility that it would have to pay claims on them. And that group is primarily responsible for America’s $182.3 billion AIG bailout in September 2008. In a normal business, you pay bonuses to top-performing employees if the business earns a hefty profit. So, of course, AIG must have earned a profit, right? Not exactly. It lost $99 billion in 2008 and $5 billion in the first three quarters of 2009. So why do these people now deserve a bonus? Continue reading Here’s a Suggestion for AIG and Its $100 Million Bonus Plan Here’s a Suggestion for AIG and Its $100 Million Bonus Plan originally appeared on DailyFinance on Wed, 03 Feb 2010 12:10:00. Filed Under: Goldman Sachs , American International Group , INC. Permalink | Tweet this! | Comments

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Here’s a Suggestion for AIG and Its $100 Million Bonus Plan

Treasury Secretary Timothy Geithner will tell Congress Wednesday that he knew nothing about the Fed’s decision to keep secret the details of its plans to funnel $62 billion in taxpayers’ money through American International Group ( AIG ) to foreign and domestic banks back in late 2008 when he headed up the New York Federal Reserve. Continue reading Can Geithner Dodge Blame Over AIG’s Backdoor Bailout Hush-Up? Can Geithner Dodge Blame Over AIG’s Backdoor Bailout Hush-Up? originally appeared on DailyFinance on Wed, 27 Jan 2010 11:40:00. Filed Under: Economy , Goldman Sachs , American International Group , INC. Permalink | Tweet this! | Comments

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Can Geithner Dodge Blame Over AIG’s Backdoor Bailout Hush-Up?

The following is a round-up of news likely to affect stock prices today: eBay Inc. ( EBAY ) beat Wall Street expectations when it reported solid results late Wednesday, powered by double-digit revenue growth in PayPal and its core marketplaces unit and the sale of 70% of Web-calling service Skype. The results were also helped by a better-than-expected holiday shopping season. The company also forecast 2010 results would be above expectations. Shares jumped about 7.7% in pre-market trade. Continue reading Stocks in the News: eBay, Starbucks, Fifth Third Stocks in the News: eBay, Starbucks, Fifth Third originally appeared on DailyFinance on Thu, 21 Jan 2010 07:45:00. Filed Under: Company News , Investing , Fifth Third Bancorp , Google , Nokia , Apple , American International Group , INC. , Starbucks Permalink | Tweet this! | Comments

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Stocks in the News: eBay, Starbucks, Fifth Third

Below are some of the best reads for investors from the Web: What are the actual odds of a terrorist attack happening on a plane? I think this is important from an investment perspective. Many times our investment decisions are incorrectly motivated by fear (or greed), rather than rational statistics. ___________________ The Dow peaked 10 years ago Wednesday. Can we finally have a new peak this coming year? ___________________ Hitler weighs in on the Conan vs. Leno wars. ___________________ Continue reading Daily Blogwatch: What are the Odds of Terrorists Attacking Your Plane? Daily Blogwatch: What are the Odds of Terrorists Attacking Your Plane? originally appeared on DailyFinance on Thu, 14 Jan 2010 08:30:00. Filed Under: Columns , Investing , Berkshire Hathaway , American International Group , INC. Permalink | Tweet this! | Comments

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Daily Blogwatch: What are the Odds of Terrorists Attacking Your Plane?

The New York Times reports that American International Group ( AIG ) executives balked at taking shares of their company as compensation in 2009. In their negotiations with comp cop Kenneth Feinberg, the anonymous executives took that position because they believed that AIG shares — then trading at $40 a share — were in fact worthless. This raises an interesting question: Are all stocks a duds or just AIG shares? Continue reading To Be Winners Like Amazon, Stocks Should Pass Four Tests To Be Winners Like Amazon, Stocks Should Pass Four Tests originally appeared on DailyFinance on Sat, 02 Jan 2010 13:30:00. Filed Under: Berkshire Hathaway , American International Group , INC. , Amazon.com Inc. Permalink | Tweet this! | Comments

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To Be Winners Like Amazon, Stocks Should Pass Four Tests

Most people do not look forward to being out of work. The general counsel at AIG ( AIG ) is probably an exception. The Wall Street Journal reports that “AIG determined that its top in-house lawyer was entitled to the money under the company’s severance plan, whose terms say certain executives can resign and collect severance if their pay is reduced significantly.” For the insurance firm’s general counsel, Anastasia Kelly, that severance will be well into the millions of dollars. Continue reading AIG’s Top Lawyer Walks Away with Millions in Severance AIG’s Top Lawyer Walks Away with Millions in Severance originally appeared on DailyFinance on Tue, 29 Dec 2009 06:30:00. Filed Under: Company News , People , Microsoft , American International Group , INC. , General Motors Permalink | Tweet this! | Comments

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AIG’s Top Lawyer Walks Away with Millions in Severance