(New York Times) — The American International Group said Thursday that it had completed a plan to repay United States taxpayers for bailing out the insurance giant during the height of the financial crisis.Under the plan,the Federal Reserve Bank of New York would be repaid the nearly $20 billion that it is owed and theTreasury Department would convert […]
(TheNation.com) — Derivatives, derivatives, derivatives! Throughout the financial crisis, the word derivatives has popped up in every corner, every hearing, every news broadcast related to the crash. Yet, they remain one aspect of the crisis shrouded in mystery; they are under-explained, difficult to comprehend and maligned by many. This week, the Senate defeated an amendment […]
(CNBC.com) — A panel investigating the roots of the financial crisis will press current and former executives of Citigroup at hearings this week about the bank’s role in spreading trillions of dollars in risky mortgage debt through the banking system. The hearings are the first by the Financial Crisis Inquiry Commission to focus on a single company. […]
(Bloomberg) — Wealth managers will have to work harder for business this year now that the financial crisis has stabilized, said Robert Gould, head of investment and wealth management for Brown Brothers Harriman & Co. “That means 2010 becomes a more competitive environment for the wealth management business,” said Gould in an interview at Bloomberg […]