Hiding Risk News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Us. we are still waiting to hear from the president and his remarks on reform. wall street reform passing out of the senate this afternoon, on the way to the president's desk. if you're into hiding risk, conflict of interest and too big to fail, this is the bill for you. and the president is going to talk about it in a few minutes. we're not going to break. # we're seconds away from the president's comments. you're probably familiar with this. there a couple of aspects worth awe plauding in the bill. the consumer protection agency is good although impotent depending on how it's managed. some o...

We're back monday afternoon. first up, aig looks like they get away scot-free with the extortion, your money, their money. you know the routine. "the wall street journal" reports after a two-year investigation, federal prosecutors leaning against investigating aig of a bailout. that's right. no accountability for the crooked insurance deals cooked out of aig. prosecutors had reportedly been considering an indictment of the former head of aig financial products, the unregulated division that originated a lot of the crooked insurance. the issue, whether he and others at the company intentionally...

You said. and the lehman president, joe gregory, was a master at disguising just how machiavellian what he was and going on at lehman. so i think in fairness to dick fuld he wasn't the only person blinded as to also -- all sorts of human resource maneuverings and things happening, the leverage being taken. joe gregory fooled him and fooled a whole lot of are people too. >> did you get the sense, or maybe you know this in the book, that hiding risk -- >> yeah. >> with the repos on the 105s was a business model. basically take on as much risk as you can, take your garbage, hide it when it is nec...

Balance sheet. if that's not good enough for a fraud investigation this country, my goodness, i don't know what it is. all of these examples proving that hiding risk seems to be wall street 101. i like to think of it as cheating. few places better to hide risk than a secret unregulated derivatives market, right? the bill presented by senate banking chair chris dodd yesterday, by the way, does nothing to address that market, despite widespread agreement that a secret unregulated derivative market used to gamble with other people's money was largely responsible for the meltdown. once again, wash...

Funneling it to politicians to authorize laws to allow them to continue to steal. it's like if you caught me doing something and instead of an outside party saying, hang on, we'll make new rules, no, i know you caught me. i have new rules for myself, i'll show you what they are. if you look at the problem, ratings agencies work with the banks. hiding risk and potential fraud. you say it addresses too big to fail. >> well, and i want you to explain something. they say they're going to have to new council that looks at solving the issue of too big to fail. on this, the treasury secretary, the ch...