AIG Is Thinking About Suing the Government for Bailing It Out
It's been almost five years since AIG's stock dropped 60 percent in a day leaving the company doomed to failure, when Uncle Sam swooped in with $182 billion to rescue it.
Advertisement
You know that term "fair weather friend?" No? Let us introduce you to Bank of America, the nation's largest lender, instigator of the Financial Crisis and newfound believers in customer service.
It's been almost five years since AIG's stock dropped 60 percent in a day leaving the company doomed to failure, when Uncle Sam swooped in with $182 billion to rescue it.
More than four years after rescuing the insurance giant from total collapse, the Treasury Department has finally sold off all its remaining shares in AIG—and even made a little money off the deal.
New York Attorney General Eric Schneiderman dropped a bomb on JPMorgan early Monday evening: a multi-billion dollar lawsuit that accuses the bank's subsidiary, Bear Stearns, of defrauding investors.
It's been five years today since the economy went to crap, the Financial Times reports. While we'd like to say that so much as changed since then, a birthday is a birthday. So break out the cheap champagne (or tears, or something) and mull over these five reasons to have a little bit of hope.
The general election has begun! And so has the onslaught of campaign ads. Which ones succeed? Which fail? In Ad Watch, we review them as they come out. Today: President Obama makes his case that we've come a long way since 2008, and a conservative group goes on the attack against teachers.
The Justice Department announced on Wednesday afternoon that the country's largest and lately flagging lender Bank of America will fork over $335 million to settle allegations that Countrywide discriminated against black and Hispanics applicants.
Now that a judge has awarded Lehman Brothers approval to exit bankruptcy, the investment bank that everybody loves to hate is one step closer to retribution.
If we had to pick one brand to represent the values of the Occupy movement — or more broadly, America's disdain for big banks — Walmart would definitely not be it.
"Heads I win tails you lose," is an old game of rigged odds, but it's been getting a lot of play among this week's opinion writers, concerned as they are with the state of our financial industry.
Goldman Sachs, the U.S.'s largest investment bank, lost $428 million during its third quarter, reports Reuters.
The Moneyball author's first book was about bad behavior on Wall Street
The firm traded at $43 a share when he took over. It's at $16 now.
Leaked cables show Chinese investors wanted to invest in U.S. banks during the '08 crisis
Signs of improvement in the Irish economy, the IMF says
Files related to Bernie Madoff and the 2008 crisis were lost in a sanctioned purge
The bank, the American people and the lawyer who brokered the deal all did well
The financial fraud engineer also complains about the judge who sentenced him
The head of the country's central bank has taken up residence in the U.S.
The money will go to the SEC; JP Morgan promises to improve their mortgage practices
Probes in New York and Arizona could be catastrophic for the nation's largest lender
The figure begs the question: Is that nearly enough?
But they probably will escape criminal charges
All the details you need to know before the film's HBO premiere
Such as: did you know these mortgages were bad before you sold them?
America's top five mortgage lenders cheated taxpayers, say federal investigators
Are you angry yet? Taibbi is and he's got lots of new metaphors to prove it
Mortgage lender Lee Farkas founded committed fraud worth $2.9 billion
A figure that explains why no bankers have faced prosecution for the financial crisis
Have a story we missed? A link we have to click? A sharp opinion about the news? Instead of waiting for us to post it, tell us on the Open Wire.
Submit your news and ideas | See all reader postsThe Atlantic Wire is your authoritative guide to the news and ideas that matter most right now. Our team tracks newsmakers and opinions across the entire media spectrum: newspapers, web sites, television, radio and magazines.
But we do more than just collect information. By synthesizing, analyzing and summarizing what’s out there, and adding new information when we can, we are a news engine that gives you a quick and valuable account of the issues of the day.
Have a hot tip? A story we missed? Tell us on the Open Wire
How to send us editorial or technical feedback
Get Five Best Columns in your inbox each morning (preview)
