IIPM Ranked No. 1 B-School In Global Exposre - Zee...
And during the fifteen months, as the US housing market came crashing down, AIG’s vulnerability to these collateral calls ultimately grounded this giant. Imagine the consternation of shareholders who were misled all along. For example, Joseph Cassano, Head of the AIG swaps-portfolio division, said in August last year, “It is hard for us to even see a scenario within any kind of realm of reason that would see us losing [even] $1 in any of those transactions...” To this, Martin Sullivan, AIG’s CEO added, “That’s why I am sleeping a little bit easier at night.”
Trouble began when AIG’s counterparties – Goldman Sachs, Merrill Lynch, UBS, Barclays, RBS et al – demanded collaterals from AIG during the second half of 2007. Obviously, it didn’t have the money! Reason enough for the US Federal Reserve to rescue AIG on September 16, 2008 with a $85 billion bailout package in return for a 79.9% equity interest. AIG needed this amount for posting its due collaterals. And while this was happening within the walls of the insurance giant, outside, its share price was tumbling! And to imagine that that huge bailout sum wasn’t enough, the Fed had to promise another sum of $37.8 billion to further lighten AIG’s collateral load.
For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).
Read these article :-
B-schooled in India, Placed Abroad (Print Version)
IIPM in Financial times (Print Version)
IIPM makes business education truly global (Print Version)
The Indian Institute of Planning and Management (IIPM)
IIPM Campus
ZEE BUSINESS BEST B SCHOOL SURVEY
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And during the fifteen months, as the US housing market came crashing down, AIG’s vulnerability to these collateral calls ultimately grounded this giant. Imagine the consternation of shareholders who were misled all along. For example, Joseph Cassano, Head of the AIG swaps-portfolio division, said in August last year, “It is hard for us to even see a scenario within any kind of realm of reason that would see us losing [even] $1 in any of those transactions...” To this, Martin Sullivan, AIG’s CEO added, “That’s why I am sleeping a little bit easier at night.”
Trouble began when AIG’s counterparties – Goldman Sachs, Merrill Lynch, UBS, Barclays, RBS et al – demanded collaterals from AIG during the second half of 2007. Obviously, it didn’t have the money! Reason enough for the US Federal Reserve to rescue AIG on September 16, 2008 with a $85 billion bailout package in return for a 79.9% equity interest. AIG needed this amount for posting its due collaterals. And while this was happening within the walls of the insurance giant, outside, its share price was tumbling! And to imagine that that huge bailout sum wasn’t enough, the Fed had to promise another sum of $37.8 billion to further lighten AIG’s collateral load.
For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).
Read these article :-
B-schooled in India, Placed Abroad (Print Version)
IIPM in Financial times (Print Version)
IIPM makes business education truly global (Print Version)
The Indian Institute of Planning and Management (IIPM)
IIPM Campus
ZEE BUSINESS BEST B SCHOOL SURVEY
For More IIPM Info, Visit below mentioned IIPM articles.
1500-plus IIPM students placed across the country with 44 bagging international offers
IIPM set to beat economic slowdown
IIPM, GURGAON
IIPM - Admission Procedure
IIPM awards four Bengali novelists
The Hindu : Education Plus : Honour for IIPM
IIPM ranked No.1 B-School in India, Management News - By ...
IIPM Ranked No1 B-School in India
Moneycontrol >> News >> Press- News >> IIPM ranked No1 B-School in ...
» IIPM ranked No1 B-School in India :: Education, Careers ...
The Hindu Business Line : IIPM placements hit a high of over 2000 jobs
Deccan Herald - IIPM ranked as top B-School in India
India eNews - IIPM Ranked No1 B-School in India
IIPM Delhi - Indian Institute of Planning and Management New Delhi ...
domain-b.com : IIPM ranked ahead of IIMs
IIPM makes business education truly global-Education-The Times of ...
