abu-dhabi-investment-council

Geithner Lays Out His New Plan

cityfile · 03/23/09 05:51AM

• Tim Geithner has unveiled his latest plan to deal with the financial crisis. This one involves a partnership between the government and private investors, and could eventually involve buying up to $1 trillion in toxic assets from banks, although it isn't generating unanimous support. "It fills me with a sense of despair," says the Times's Paul Krugman. [WSJ, NYT, BN, NYT]
• New documents over the weekend indicate AIG paid out $218 million in bonuses, more than the previously disclosed $165 million. [Reuters]
• Here's another way to look at the AIG mess: If those bonuses hadn't been paid, the U.S. government may have had $1.7 trillion to worry about. [NYP]
• That trip to AIG on Saturday? Lots of reporters, many fewer protesters. [AP]
• Obama reiterated his support for Geithner on 60 Minutes. [Dealbreaker]

Street Talk

cityfile · 07/09/08 05:16AM
  • Federal prosecutors are investigating two ex-Credit Suisse brokers, Eric Butler and Julian Tzolov, over whether they lied to clients about their investments in auction rate securities. [WSJ]

Two NYC Landmarks Change Hands

cityfile · 06/11/08 07:16AM

The two New York buildings that adorn more tourist schlock than any others—the Flatiron building and the Chrysler building—are being bought by tourists, albeit extremely deep-pocketed ones. Italian mogul Valter Mainetti's Sorgente Group is acquiring a majority stake in the Flatiron, while the Abu Dhabi Investment Council is poised to take a 75% stake in the Chrysler for approximately $800 million. Didn't get in your bid in time? Guess you'll have to settle for the statue and 3-D puzzle.