The Derivative Project

Derivatives and Legal Issues

AIG Suit:  Role of Commercial Banks, Trust and Capital Markets

AIG Suit: Role of Commercial Banks, Trust and Capital Markets

AIG shareholders and Hank Greenberg have their day in court tomorrow. ¬†Gretchen Morgenson of The New York Times writes a summary here: “Court Casts a New Light On a Bailout.”¬† Ms. Morgenson writes: “In spite of this punishment, A.I.G. repaid the loan in January 2011. I am not arguing that…

Rewriting History: The Side Deal and the Congressional Testimony that Gave AIG a Free Pass and Goldman $13 Billion in Cash Flow

Did A Side Deal Save All the AIG Counter Parties, Including Goldman Sachs? With all the five-year reminiscing going on about the causes of the financial crisis—there is silence on one critical topic that needs real debate by Congress and the Department of Justice, before the history book is closed. As…

Rewarding Fraudulent Contracts With Bonuses and Rationale for New Financial Crisis Inquiry

Is it Time to Reopen an Inquiry Into the Causes of the 2008 Financial Crisis? Compliments of The New York Times, we share their opinion on the statements of AIG’s CEO Benmosche yesterday: Why It is Necessary to Reopen An Inquiry into the Causes of the 2008 Financial Crisis The…

The Department of Justice and The U.S. Taxpayer v AIG

U.S. taxpayers had forgotten about, or never really understood, (due to the misrepresentative reporting on the fraud perpetuated by AIG) how they were duped. Taxpayers, here is another opportunity to see justice served for all the economic hardships following the 2008 financial crisis.  It is not to “get even” it…

Ameriprise vs Ameriprise: Even Wall Street Knows the Rot…Is that Why Potential Treasury Secretary Pick Chenault Sold It?

Ameriprise employees are suing Ameriprise over breach of fiduciary duty for putting their retirement savings into more expensive funds, packaged by Ameriprise.  Yes, that is self-dealing and a breach of fiduciary duty.  That is what every retirement investor is faced with in every 401k account today.  That is what every…

Part II “The Sokol Affair”: Mr. Sokol’s Lobbying to Make Taxpayers Foot the Bill on Berkshire’s Derivative Speculation

Part II on the Sokol “Affair” and Dodd Frank Derivative Reform: Here is A Summary of Mr. Sokol’s Derivative Speculation Lobbying Efforts and Congress Granting Him and Berkshire the Exception that Puts Taxpayers at Risk Mr. Sokol was appointed by Warren Buffett to ensure Berkshire’s $60 billion in speculative derivative…