Word: hanke
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...Maurice (Hank) Greenberg has said that all he ever wanted in life was "an unfair advantage," an insurance man's credo that propelled American International Group into a global powerhouse. Greenberg grew up with the now infamous company, becoming a world business power who dined with heads of state and influenced international trade policy - until risk caught up to him four years ago. An accounting scandal forced him to step down from his beloved company...
Former AIG chief executive Maurice (Hank) Greenberg told Congress on Thursday morning that as much as $50 billion in payments that AIG has made in the past few months to banks and other financial firms, including Goldman Sachs and Deutsche Bank, should not have been made. Greenberg believes the banks should be forced to reinvest some of those trading profits in AIG by buying the company's shares...
...officials have been somewhat hesitant to bring the issue of trade imbalances up because it isn't as pressing as getting people back to work and restoring confidence. At the first meeting of the G-20 last fall, it was hardly mentioned at all. But as former Treasury Secretary Hank Paulson said in November, it cannot be left untreated over the long term. "The pressure from global imbalances will simply build up again until it finds another outlet," he explained. (Read "The G-20 Summit: Obama Can Stay Home...
Geithner, his predecessor Hank Paulson, FDIC chief Sheila Bair and Fed Chairman Ben Bernanke have so far used ad hoc powers to erect two of those crucial four pillars. Last fall they introduced Fed-sponsored insurance for money-market deposits, the equivalent of the FDIC insurance that exists for regular bank accounts. At the same time, they opened Fed lending to financial-services companies, making the Fed the lender of last resort for those firms, just as it is for traditional banks. In the past two days, Geithner unveiled the final two safeguards that he, Bernanke and Bair believe will...
...billion, was Goldman Sachs, the investment-banking house that has been the single largest supplier of financial talent to the government. Critics have been quick to note - and not favorably - the almost uncanny influence of former Goldman executives. Initial phases of the rescue were orchestrated by ex-Goldman chairman Hank Paulson, who was recruited as Treasury Secretary in part by former White House chief of staff and Goldman senior exec Josh Bolten. Goldman's current boss, Lloyd Blankfein, was invited to participate in meetings with the Fed. AIG's Liddy is a former Goldman director...