2008 Crisis

Stable Value Prior to the Executive Life Insurance Company (ELIC) default there was no such thing as a stable value fund… — Murray L. Becker 1999 – SOA – Insurance Company Failures of the Early 1990s-Have We Learned Anything?, Society of Actuaries – 25p stablevalue.org/wp-content/uploads/Stable_Times_Volume_3_Issue_2.pdf 2011 – SEC-CFTC Stable Value Contract Study – Study of…

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…

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 -…

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…

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…

2008 Financial Crisis – YPFS – Lessons Learned 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 -…

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…

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…

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…

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…

Stable Value

2008-09-12_Federal_Reserve_Bank_AIG_Meeting_Notes

AIG – Unwinding

2008 0912 – FCIC – 2008-09-12 Alejandro LaTorre Email to Geithner et al re Update on AIG

AIG – Causes of Collapse

Yale – YPFS – Lessons Learned – 2008 Financial Crisis

Richard Shelby

Q: AIG – Where Did The Money Go?

2008 Financial Crisis – Contagion

2009 0318 – GOV (House) – American International Group’s Impact on the Global Economy – Paul Kanjorski (D-PA)