Category: Insurance

The bankruptcy lottery: Part 7, Without fear of reprisal

15 July, 2015 (10:00) | AIG, Bailouts, Chapter 11, Credit default swap, Federal Reserve, Geithner, Illegal extractions, Insurance, Law, Lehman Weekend, Speculation, Takings clause, TARP, US News | No comments

[Continued from yesterday’s Part 6 and the preceding Part 1, Part 2, Part 3, Part 4, and Part 5.] By: David A. Smith The children had stones already. And someone gave little Davy Hutchinson few pebbles. – Shirley Jackson, The Lottery Now, after six parts of establishment – important, nonetheless, like your vegetables – we […]

The bankruptcy lottery: Part 6, Equity would have been worthless

14 July, 2015 (10:00) | AIG, Bailouts, Bankruptcy, Chapter 11, Credit default swap, Federal Reserve, Geithner, Illegal extractions, Insurance, Law, Lehman Weekend, Speculation, Takings clause, TARP, US News | No comments

[Continued from yesterday’s Part 5 and the preceding Part 1, Part 2, Part 3 and Part 4.] By: David A. Smith “It’s Tessie,” Mr. Summers said, and his voice was hushed. “Show us her paper. Bill.” Bill Hutchinson went over to his wife and forced the slip of paper out of her hand. It had […]

The bankruptcy lottery: Part 5, Uncontrolled caprice of officials

13 July, 2015 (11:12) | AIG, Bailouts, Bankruptcy, Chapter 11, Credit default swap, Federal Reserve, Geithner, Illegal extractions, Insurance, Law, Lehman Weekend, Speculation, Takings clause, TARP, US News | No comments

[Continued from Friday’s Part 4 and the preceding Part 1, Part 2, and Part 3.] Instant wakeup analysis of today’s Greek bailout agreement by David Mamet (in Glengarry Glen Ross, 1992) Williamson: If the sale sticks, it will be a miracle. Levene: I just closed eighty-two grand.  I’m back, this is only the beginning. Williamson: […]

The bankruptcy lottery: Part 4, Orchestrated to avoid any shareholder vote

10 July, 2015 (10:00) | AIG, Bailouts, Chapter 11, Credit default swap, Federal Reserve, Geithner, Illegal extractions, Insurance, Law, Lehman Weekend, Speculation, Takings clause, TARP, US News | No comments

[Continued from yesterday’s Part 3 and the preceding Part 1 and Part 2.] By: David A. Smith Old Man Warner snorted. “Used to be a saying about ‘Lottery in June, corn be heavy soon.’ First thing you know, we’d all be eating stewed chickweed and acorns. There’s always been a lottery,” he added petulantly. “Bad […]

The bankruptcy lottery: Part 3, No right to control a company

9 July, 2015 (10:00) | AIG, Bailouts, Bankruptcy, Chapter 11, Credit default swap, Federal Reserve, Geithner, Illegal extractions, Insurance, Law, Lehman Weekend, Speculation, Takings clause, TARP, US News | No comments

[Continued from yesterday’s Part 2 and the preceding Part 1.] By: David A. Smith At one time, some people remembered, there had been a recital of some sort, performed by the official of the lottery, a perfunctory, tuneless chant that had been rattled off duly each year; some people believed that the official of the […]