Financial News from Closing Bell from 3/16/2009

American International Group, Incorporated (AIG) Discussed on CNBC's Closing Bell

American International Group, Incorporated is in the news. Find out how this impacts AIG trading on Ockham Research.

>>> this is cnbc.Com news now. >>> alcoa shares fall as much as 12% after the company cuts its dividend and announces other plans to save cash. >>> new york attorney general andrew cuomo has subpoenaed AIG on executive bonuses. Cuomo says transparency's needed in company's using t.A.R.P. >>> led the early afternoon

“… eeded in company's using t.A.R.P. >>> led the early afternoon …”

Alcoa Inc. (AA) Discussed on CNBC's Closing Bell

Alcoa Inc. is in the news. Find out how this impacts AA trading on Ockham Research.

On in the week. Have a great evening, everybody. That'll do it for us on "closing "fast money's" up next. See you tomorrow. Thanks for watching. >>> this is cnbc.Com news now. >>> ALCOA shares fall as much as 12% after the company cuts its dividend and announces other plans to save cash. >>> new york attorney general andrew cuomo has subpoenaed aig on executive bonuses.

“… nounces other plans to save cash. >>> new york attorney general andrew cuomo has subpoenaed aig on executive bonuses. …”

HSBC Holdings plc ADS (HBC) Discussed on CNBC's Closing Bell

HSBC Holdings plc ADS is in the news. Find out how this impacts HBC trading on Ockham Research.

The economy. Buying commercial and corporate bonds. >>> china's focus as well is a daughter who shows a direct investment. Fell 26.2% in the first two months of the year. And HSBC is reportedly not looking to go back to shareholders for more capital. It says the $18 billion its currently raising is enough. >>> tune in to cnbc world to

“… ays the $18 billion its currently raising is enough. >>> tune in to cnbc world to …”

American International Group, Incorporated (AIG) Discussed on CNBC's Closing Bell

American International Group, Incorporated is in the news. Find out how this impacts AIG trading on Ockham Research.

Might be outrageous and say I don't know that the AIG employees, senior employees, are entitled to performance bonuses after their performance, I don't know that we should be retaining the senior employees who brought AIG to this position. Just a thought. >> yeah. So are you saying that if you were to learn that some of the people getting the bonuses are in the insurance business, the

“… >> yeah. So are you saying that if you were to learn that some of the people getting the bonuses are in the insurance business, the …”

American International Group, Incorporated (AIG) Discussed on CNBC's Closing Bell

American International Group, Incorporated is in the news. Find out how this impacts AIG trading on Ockham Research.

That the taxpayer dollars get respected and there's disclosure and transparency. All right. Let me put up a graphic here of what ed liddy, the ceo of AIG, is saying in response to president obama and your request for information here. He says we cannot attract and retain the best and brightest talent to lead and staft AIG businesses if employees believe that their competencensation is subject to continued and arbitrary adjustment by the u.S. Now, I don't know where these people are going when we have a

“… tract and retain the best and brightest talent to lead and staft AIG businesses if employees believe that their competencensation is subject to continued and arbitrary adjustment by the u.S. Now, I don't know where these people are going when we have a …”

American International Group, Incorporated (AIG) Discussed on CNBC's Closing Bell

American International Group, Incorporated is in the news. Find out how this impacts AIG trading on Ockham Research.

Get the facts. >> now, we know that a big bulk of the money that was given to AIG has gone to counterparties. Is this who we're trying to save, goldman sachs, merrill lynch, the other firms that have received the money because they're counterparties to AIG? Why can't we just stop giving AIG money and allow it to go bankrupt? >> well, you know, maria, the argument has been made, and it's for people who get paid more than I do, that AIG is important to, quote unquote, save for the national economy if not the international economy. And i'm not going to debate that premise now. I'm focusing on the bonus, the use of the taxpayer dollars. We started, as you'll recall because you covered it extraordinarily well, back in october with AIG, how they were using the first round of bailout money with bonuses and remember, conferences and trips and pheasant hunting to europe. So my concern has always been

“… G? Why can't we just stop giving AIG money and allow it to go bankrupt? >> well, you know, maria, the argument has been made, and it's for people who get paid more than I do, that AIG is important to, quote unquote, save for the national economy if not the international economy. And i'm not going to debate that premise now. I'm focusing on the bonus, the use of the taxpayer dollars. We started, as you'll recall because you covered it extraordinarily well, back in october with AIG, how they were using the first round of bailout money with bonuses and remember, conferences and trips and pheasant hunting to europe. So my concern has always been …”

Goldman Sachs Group, Incorporated (GS) Discussed on CNBC's Closing Bell

Goldman Sachs Group, Incorporated is in the news. Find out how this impacts GS trading on Ockham Research.

Nobody wants to micromanage but taxpayers have a right to get the facts. >> now, we know that a big bulk of the money that was given to aig has gone to counterparties. Is this who we're trying to save, GOLDMAN SACHS, merrill lynch, the other firms that have received the money because they're counterparties to aig? Why can't we just stop giving aig money and allow it to go bankrupt? >> well, you know, maria, the

“… ve received the money because they're counterparties to aig? Why can't we just stop giving aig money and allow it to go bankrupt? >> well, you know, maria, the …”

American International Group, Incorporated (AIG) Discussed on CNBC's Closing Bell

American International Group, Incorporated is in the news. Find out how this impacts AIG trading on Ockham Research.

Actually get the money back? >> well, first, maria, you need to see the contracts to understand the terms and conditions of the payments. And I understand they had a contract and that's what AIG has said, we had a contract. And that's instructive. It's not necessarily determinative. You can have a contract, and then you can say, but by the way, after we signed the

“… t necessarily determinative. You can have a contract, and then you can say, but by the way, after we signed the …”

American International Group, Incorporated (AIG) Discussed on CNBC's Closing Bell

American International Group, Incorporated is in the news. Find out how this impacts AIG trading on Ockham Research.

>> hey, thanks, maria. >> we so appreciate it. John snow, former treasury secretary, chairman of cerberus capital management. New york attorney general andrew quoemio demanding a list of AIG employees who are receiving millions of dollars of bonuses. Um can go up straight-away he'll discuss his probe and where it goes from here. Attorney general joining me andprogramsthat help

“… an go up straight-away he'll discuss his probe and where it goes from here. Attorney general joining me andprogramsthat help …”

Fannie Mae (FNM) Discussed on CNBC's Closing Bell

Fannie Mae is in the news. Find out how this impacts FNM trading on Ockham Research.

Private capital come in, we're going to have the government not good. >> you know, people want to feel like there's a deadline in place. I spoke to dan mudd the other day who used to run FANNIE MAE, and he said to me the government should say look, we have $2 trillion or x number of dollars and we will buy your toxic assets at whatever we can buy them at, but in six months

“… e $2 trillion or x number of dollars and we will buy your toxic assets at whatever we can buy them at, but in six months …”