2008 Crisis
2008 0627 – Bloomberg – AIG to Absorb $5 Billion Loss on Securities Lending: Insurance Units Wrote Down $13B Tied To Mortgages, by Miles Weiss
2008 0627 – Bloomberg – AIG to Absorb $5 Billion Loss on Securities Lending: Insurance Units Wrote Down $13B Tied To Mortgages, by Miles Weiss 2008 0627 – Bloomberg – AIG to Absorb $5 Billion Loss on Securities Lending: Insurance Units Wrote Down $13B Tied To Mortgages, by Miles Weiss – [link-BonkNote] 2008 0628, Sat National Post…
Read MoreProject – 2008 Financial Crisis – State Regulation
Project – 2008 Financial Crisis – State Regulation Guaranty Funds Shelby, Hunter, McRaith (p16) – Willis B. Howard, Jr. (NOLHGA – National Organization of Life and Health Insurance Guaranty Associations): I’d like to respond briefly to my honorable friend, Commissioner Bartlett. Dwight, the guarantee association system works, and it works well. Dwight K. Bartlett III, Maryland Insurance…
Read More2008 Financial Crisis – Monolines
2008 Financial Crisis – Monolines Spencer BACHUS (R-AL) – I believe to protect those that are relying on the bond insurers’ capitalization, I believe the superintendent of the New York Insurance Department could have raised the capital standards. Governor SPITZER. Sir, I think you misapprehend— Spencer BACHUS (R-AL) I believe there was inadequate capitalization 2008 0214…
Read More2009 1117 – FCIC – Hearing – Financial Crisis Inquiry Commission – Timothy Geithner – Closed Session
2009 1117 – FCIC – Hearing – Financial Crisis Inquiry Commission – Timothy Geithner – Closed Session 2009 1117 – FCIC – Hearing – Financial Crisis Inquiry Commission – Timothy Geithner, Secretary of the Treasury – Closed Session — [BonkNote] 2009-11-17 FCIC staff audio tape of interview with Timothy Geithner, Department of the Treasury.mp3 [PDF-50p]…
Read More2008 Financial Crisis – ACLI
2008 Financial Crisis – ACLI 2008 1101 – ThinkAdvisor – Smoke and Mirrors?, By Marlene Y. Satter – [link] When ACLI and AIA issued their statements pushing for federal oversight, NAIC accused them of playing politics, reiterating that the state-regulated insurance companies that were part of AIG were sound and “are not the problem.” Further, NAIC…
Read More2008 Financial Crisis – TDI – Texas Department of Insurance
2008 Financial Crisis – TDI – Texas Department of Insurance Doug Slape – Chief Deputy Commissioner of the Texas Department of Insurance 2010 0610 – COP – Report – The AIG Rescue, Its Impact on Markets, and the Government’s Exit Strategy, June Oversight Report, Congressional Oversight Panel — [BonkNote] — 337p A7: Securities lending at AIG47…
Read MoreExamples – Connections
Examples – Connections [Bonk: Contagion-?] In the meantime, a movement was afoot within the life insurance industry led by Metropolitan Life Insurance Company, as well as the securities brokerage industry, to put together an enhanced rehabilitation plan which would raise the crediting rate on the SPDAs from 5.5% to at least 7.5%. This effort was…
Read More2008 Financial Crisis – SEC – AIG
SEC – Securities and Exchange Commissioner – AIG – 2008 Financial Crisis 2014 0117 (Updated) – WSJ – Request to SEC for AIG Files Nets Heavily Redacted Documents Regulator Keeps Details—and Much More—Secret Despite Request for Info on AIG Probe, By Jean Eaglesham – [link] 2010 0728 – FOXBusiness – SEC Says New Financial Regulation Law…
Read More2008 Financial Crisis – Papers
2008 Financial Crisis – Papers 2011 – AP – AIG: Misconceptions, Precipitating Factors in Government Bailout, and Implications for the Financial Industry, by Alexis Paulovich – 56p 2012 – AP – External Financing in the Life Insurance Industry: Evidence from the Financial Crisis, by Thomas R. Berry-Stölzle – 41p 2013 – LR – Bank Recapitalizations: A…
Read More2008 Financial Crisis – Failure to Communicate / Make Connections
2008 Financial Crisis – Failure to Communicate / Make Connections (p35-36) – Paul Kanjorski (D-PA) – [To Hank Paulson] – I daresay for criticism, I think both yourself and Chairman Bernanke and the new Secretary of Treasury have failed to inform adequately the American people as to what meltdown meant. I remember those vital days…
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