July 30, 2010

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AIG Could Give US Stake in Mortgage Bonds to Repay Bailout

July 14, 2010 By Bill Rice Leave a Comment
AIG Logo

Image via Wikipedia An early morning report from Bloomberg Businessweek says AIG may be considering giving the US government a position in mortgage bonds to repay a portion if its Federal bailout debt. Ironically, this stake would be in the same "toxic assets" that nearly collapsed the large insurer. This report is being whispered by unnamed sources close to the potential AIG/US government deal. The mortgage bonds being considered in this trade would be assets in Maiden Lane II and Maiden … [Read more...]

Filed Under: Mortgage Notes, TARP Tagged With: aig, American International Group, Federal Reserve, Maiden Lane II LLC, Maiden Lane III, New York Federal Reserve Bank

Taking Another Look at Bailout "Income" Sheet

September 2, 2009 By Bill Rice Leave a Comment

Matt Taibbi at TrueSlant.com takes a slightly different view of the success of Bank Bailouts. Citing reports from the New York Times and the Financial Times, "telling us the bailout is working because the government has made some money on TARP," Taibbi thinks the math is selective at best. Take a look a Matt's argument for yourself: "This is sort of like calculating the returns on a mutual fund by only counting the stocks in the fund that have gone up. Forgetting for a moment that TARP is … [Read more...]

Filed Under: Federal Reserve, TARP Tagged With: bailout, banks, Federal Reserve, TARP

Bair, Paulson Showdown Hits the (Public) Congressional Floor

November 19, 2008 By Bill Rice Leave a Comment
smackdown

We knew this was coming...the Bair/Paulson Smackdown. This is truly a rare event to watch two government agencies open up a public battle for power and leadership. The sides are aligned: Treasury Secretary Paulson/White House versus FDIC Chairman Bair (a Bush appointee)/Congressional Democrats. The strategy seems clear--Paulson is playing to hold the line for the next 9 weeks and Bair is playing for a longer term opportunity with the new Obama White House. Paulson stuck to his reversal in TARP … [Read more...]

Filed Under: FDIC, Loan Modification, TARP, Treasury Tagged With: FDIC, hank paulson, sheila bair, TARP