HBO pulls off a simplification that Saints Paulson inappropriately, but actually does a relatively good job of distilling Sorkin's masterful epic of investigative reporting into something the average American might be able to understand... In a 'nut shell' the 'shit' hit the fan. The Government grasped for straws, and this was the result. And, if you're keeping score the hits keep coming.
Watch in its entirety HERE:
http://www.letmewatchthis.ch/watch-2723367-Too-Big-to-Fail
Official SITE:
http://www.hbo.com/movies/too-big-to-fail/inside/video/video/trailer.html#/movies/too-big-to-fail/index.html
Showing posts with label AIG. Show all posts
Showing posts with label AIG. Show all posts
Tuesday, June 21, 2011
Wednesday, March 17, 2010
Michael Lewis on "the seers who see 'debt' people" interview on Fresh Air with Terry Gross on NPR
"Everybody [on Wall Street] was working with the same set of facts about subprime mortgage lending — about how subprime mortgage loans were turned into bonds and repackaged and turned into CDOs and so on and so forth," Lewis tells Terry Gross. "[And] the vast majority of the people in the markets took those facts and painted one kind of picture with it; it was a very pleasant picture. And a very small handful of people took the same facts and painted a completely different kind of picture with it. [I wanted to find out] 'What is it that enables [the people who bet against the market] to paint that picture?' and 'Why do these people look at the world differently?' "
The Big Short: Inside the Doomsday Machine
By Michael Lewis
Hardcover, 288 pages
W. W. Norton & Co.
List price: $27.95
The Big Short: Inside the Doomsday Machine
By Michael Lewis
Hardcover, 288 pages
W. W. Norton & Co.
List price: $27.95
Monday, February 22, 2010
The Man Who Crashed The World... AIG in Vanity Fair
Investigation
The Man Who Crashed the World
By Michael Lewis August 2009
"Almost a year after A.I.G.’s collapse, despite a tidal wave of outrage, there still has been no clear explanation of what toppled the insurance giant. The author decides to ask the people involved—the silent, shell-shocked traders of the A.I.G. Financial Products unit—and finds that the story may have a villain, whose reign of terror over 400 employees brought the company, the U.S. economy, and the global financial system to their knees."
The Man Who Crashed the World
By Michael Lewis August 2009
"Almost a year after A.I.G.’s collapse, despite a tidal wave of outrage, there still has been no clear explanation of what toppled the insurance giant. The author decides to ask the people involved—the silent, shell-shocked traders of the A.I.G. Financial Products unit—and finds that the story may have a villain, whose reign of terror over 400 employees brought the company, the U.S. economy, and the global financial system to their knees."
Sunday, February 21, 2010
AIG Update from the Columbia Journalism Review
Economic Crisis, The Audit — January 27, 2010 02:08 PM
Advancing the AIG Story
By Ryan Chittum
"The immediate reason why AIG needed bailing out in the fall of 2008 was the collateral called in by the likes of Goldman Sachs due to both the deterioration of AIG’s credit rating and of toxic assets they’d bought insurance on from AIG. Could the government have stopped the collateral calls without directly giving Wall Street tens of billions of dollars?"
Read the whole story HERE.
Bear Stearns, AIG or what happens if you're left without a chair when the music stops
"AIG is a collection of well-regulated insurance companies that are still making money today, and the holding company at the top that took the profits generated by the insurance company and speculated in the most irresponsible, unregulated way."
Barney Frank Chair, House Financial Services Committee (D-Mass.)
"All of a sudden AIG woke up and saw they had insurance liabilities that they had no idea they had. And all of a sudden the people said: "OK, I bought a credit default swap. The thing went bust, and pay me." That's what their problem was. It had nothing to do with Lehman. Nothing. AIG was in trouble months before Lehman went under."
Alan "Ace" Greenberg Former CEO, Bear Stearns
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