AIG Is Said to Query Bonus Holdouts in Push for $45 Million of Concessions (Bloomberg)
The insurer mailed questionnaires this month to ex-workers at the Financial Products unit asking whether they’d earned income after leaving AIG, said the people, who declined to be identified because the negotiations are private. Under the program, compensation earned by former AIG staff in 2009 from another employer would lower payouts to be delivered next week from the New York-based company, the people said.
Big Majority Of Americans Wants Wall Street Regulation (Reuters)
Supposedly: “82 percent of Americans want the government to clamp down more strongly on Wall Street excesses, with a particular emphasis on bonus schemes that have rewarded employees at loss-making companies such as AIG.”
The U.K. Origins of Lehman’s Accounting Trick (Dealbook)
Repo 105.
UBS Lobbies for Swiss-U.S. Deal (WSJ)
The IRS has uncovered as many as 20 other Swiss private banks as part of a tax amnesty aimed at declaring funds to the authority, according to a UBS document seen by Dow Jones Newswires Friday. In the document, UBS argues that a parliamentary no-vote could also harm the other Swiss banks who offered services to wealthy Americans. “Switzerland’s refusal to honor its international obligations could send an escalating signal,” UBS writes in the seven-page document, which was sent to Swiss parliamentarians this week.
Obama to nominate Yellen as Fed vice chairman (MarketWatch)
Yellen “is one of the more dovish policy makers among the Fed’s 12 regional bank presidents and has been a strong supported of the policies of Fed Chairman Ben Bernanke.”
Dennis Kneale: Obama is Ahab, Strapped to Moby Dick (CNBC)
Oh, okay.
SEC Asks Congress to Regulate Credit Default Swaps (Reuters)
“If we continue to allow these risky financial products to operate in the dark we should not be surprised at the damage we find when the lights come on,” Securities and Exchange Commission Chairman Mary Schapiro said in a statement, without commenting on Greece’s situation.
Here Are Some Thoughts On Men And Wall Street
Jerk Running Ferry To Fire Island Not Up On The Celebs Of Financial Reform
EB is the R Seacrest of financial journalism.
If you were a former AIG employee, why would you respond to that survey?
People, we need to re-build trust with former quants and traders at Lehman and AIG. I think some trust building exercises would be a good start. For example, we could let some former AIG and Lehman folk stand on a 10 foot tall platform. Then they would fall backwards off the platform and we would catch them. I think that would rebuild trust. It would be a good start.
Call me Ishmael
1- gfy
They call me, Hypotenuse.
Obama strapped to a white whale… Dennis Kneale: zoophile and racist.
Now I know why Dennis Kneale is banned from Sea World
You know what? What are the other 19 Swiss banks doing about it? What is the Swiss banking lobby doing? What do the Swiss courts have to say?
Christ.
hmmmm not that it matters but does anyone else notice that most of the people that Obama appoints seems to be women and visible minorities?
Lehmans London were pushing the qtr end repo trade as early as ‘98. It allowed them to run a “thinly capitalized” London subsid. I’d be surprised if Bear weren’t doing the same.
11, you realize you’re not helping any.