Entries tagged "New York State"
New York State is jumping into the $62 trillion credit default swaps marketplace with both feet Monday, as Governor David Paterson announced that the state will begin regulating part of the market beginning in January....
Pressure on American International Group Inc. shares eased off Monday afternoon, after the State of New York jumped in to help by agreeing to bend the rules so that the insurer could access $20 billion of its own capital. After getting savaged early on, falling 71% to a low of $3.50, the stock recovered some of its losses and was down about 45% to $6.51 in early afternoon trading....
Drag yourself away from the sordid details of Tuesday's papers -- tabloids were invented for days like this -- and reflect for a moment on other aspects of Eliot Spitzer and his record. Spitzer's legacy on Wall Street will hang on the analyst scandals, which rocketed him to fame. While it's true that he acted like a bully, leaked like a colander and rarely took a case to court unless he was forced to, the darker truth is that he did have an important issue with tainted research. ...
