Entries Tagged as 'writedowns'

Mark It Zero: AIG Fraud Edition

April 6th, 2009 · 4 Comments · fail, writedowns

Institutional Risk Analytics published this piece a few days ago comparing AIG’s CDS business to AIG’s reinsurance business.  They’ve laid out an interesting, scary and plausible thesis for fraud and fail. Hard to make this one funny but I thought it worth posting, nonetheless. Reinsurance is a good way to get risk off your books, […]

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We Bring Fail Things To Light

March 17th, 2009 · 2 Comments · writedowns

Man, they’ve got such good slogans. Thursday morning’s entertainment will be brought to you by GE, whose illustrious AA+ finance arm will be reporting on its commercial real estate holdings. (Light bulbs + real estate = synergy!) An idea of what we’ll be looking at: Other companies have been clobbered by steep declines in the […]

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An Excellent Day On The Markets

February 23rd, 2009 · 3 Comments · bailout, fail, links, markets, writedowns

- Today on Wall Street, the Dow climbed to new heights.  Wait, what?  Upside-down?  Oh.  Nevermind.  Epic, epic failing.  It’s May 1997 all over again, the last time the index saw such a number. – Speaking of failure, AIG ran out of crack money and wants more, even though it literally cannot do anything more […]

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Credit Suisse: Now, Isn’t This Better Than A Sharp Stick In The Eye?

December 18th, 2008 · 5 Comments · all ur bankz, markets, writedowns

From the “Maybe I should’ve settled for a firm handshake” department, Credit Suisse announces all bonuses will be paid in illiquid assets: Dec. 18 (Bloomberg) — Credit Suisse Group AG’s investment bank has found a new way to reduce the risk of losses from about $5 billion of its most illiquid loans and bonds: using […]

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Vikram Pandit…Clairivoyant?

October 22nd, 2008 · No Comments · fail, writedowns

Wachovia made a play for captain of the failboat, posting an impressive $23.9b Q3 loss.  Twenty-three-point-nine billion dollars, lost.  In a quarter.  That’s three months.  Wachovia lost $265,555,555 a day in the last quarter, or $184,413 every minute.  All that can really be done at this point is congratulating Wachovia for this staggering achievement. (Warning: […]

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