Read more credit default swap stories on Newserhttp://www.newser.com/taggrid/35466/credit-default-swap.html2010 - Newseren-usNewser Feed Generator2010-03-22T15:58:33http://www.newser.com/story/77747/ny-fed-told-aig-to-hide-payouts.htmlThe Federal Reserve Bank of New York pressured AIG not to release details of massive payments it made to banks after it was bailed out, email exchanges released yesterday reveal. The insurer paid banks, including Goldman Sachs, in full for securities linked to subprime mortages, a move critics say amounted...http://www.newser.com/story/77747/ny-fed-told-aig-to-hide-payouts.html2010-01-08T10:51:14http://www.newser.com/story/70947/cit-bust-would-cost-us-23b-earn-goldman-1b.htmlTroubled commercial lender CIT, circling the drain for more than a year, would cost taxpayers $2.3 billion in shares purchased by the Treasury Department if it files for Chapter 11 soon—but Goldman Sachs, which gave the lender emergency funding, stands to collect a $1 billion windfall if it...http://www.newser.com/story/70947/cit-bust-would-cost-us-23b-earn-goldman-1b.html2009-10-05T09:29:51http://www.newser.com/story/66720/get-ready-for-bigger-badder-bernies.htmlIf you think you’re mad at Bernie Madoff, just wait. Harry Markopolos, who blew the whistle on Madoff, says there are more baddies out there who will make good ol’ Bernie “look like small time.” While speaking at a Southampton church, the fraud investigator predicted scandals related to the $600...http://www.newser.com/story/66720/get-ready-for-bigger-badder-bernies.html2009-08-12T13:32:04http://www.newser.com/story/64345/feds-probe-shady-market-for-derivatives.htmlThe Justice Department is probing the market for credit-default swaps, the largely unregulated derivatives that contributed to the financial crisis, Bloomberg reports. Justice is investigating whether big banks have unfair access to price information through their ownership of a private company that provides data to investors. The Obama administration wants...http://www.newser.com/story/64345/feds-probe-shady-market-for-derivatives.html2009-07-14T14:33:23http://www.newser.com/story/63783/one-man-to-blame-at-aig.htmlAIG’s contribution to the world financial crisis may be bafflingly complex, but a single villain is emerging, writes Michael Lewis in Vanity Fair . Joseph Cassano was a "cartoon despot" who ran AIG's Financial Products division, now infamous for its credit-default swaps. Cassano, unfortunately, "didn’t fully understand all the calculations and...http://www.newser.com/story/63783/one-man-to-blame-at-aig.html2009-07-08T00:31:23http://www.newser.com/story/60434/banks-privately-chafe-against-derivatives-reform.htmlThe Obama administration is pushing to reform the market for financial derivatives by requiring new reporting to make trades more transparent. In public, Wall Street is saying it's in favor of the changes, but as the Wall Street Journal reports, the banks are pushing hard against reforms behind the scenes....http://www.newser.com/story/60434/banks-privately-chafe-against-derivatives-reform.html2009-05-29T12:22:31http://www.newser.com/story/58910/obama-wants-to-tame-wild-derivatives-market.htmlPresident Obama wants to put the so-called dark markets under control, the New York Times reports, seeking congressional approval to regulate the byzantine world of derivatives trading—which played a large role in the current financial mess. In a letter to lawmakers, Treasury chief Timothy Geithner calls for an oversight...http://www.newser.com/story/58910/obama-wants-to-tame-wild-derivatives-market.html2009-05-13T21:00:02http://www.newser.com/story/54341/exxon-chevron-scramble-to-protect-40b-cash-booty.htmlIn times like these, everyone’s got problems. Exxon and Chevron? Finding safe places to stash $40 billion they stockpiled while oil prices were stratospheric last summer. “The biggest challenge we’ve had is making sure all the cash is there every morning,” Exxon’s CEO tells Bloomberg, adding of his treasurer, “I...http://www.newser.com/story/54341/exxon-chevron-scramble-to-protect-40b-cash-booty.html2009-03-25T16:22:33http://www.newser.com/story/53640/aigs-bailout-cash-flowing-to-hedge-funds.htmlThe government cash flowing steadily into AIG is going in no small part to pay off hedge funds that bet against the housing market, the Wall Street Journal reports. The hedge funds placed credit default swap bets with other banks—Deutsche Bank and Goldman Sachs are specifically named in documents...http://www.newser.com/story/53640/aigs-bailout-cash-flowing-to-hedge-funds.html2009-03-18T12:30:46