Risk & Insurance Online

AIG: Collusion of epic proportions between Goldman's US Treasury branch and Goldman Sachs proper ( Zero Hedge )

Zurich Insurance hit with record fine over data loss (ZDNet UK) (08/25/10)
AIG ex-chief Greenberg agrees to settle investor lawsuits over his tenure (Bloomberg) (08/27/10)
Beyond Big Easy, a 'faith-based' approach on flood insurance (USA Today) (08/27/10)
New statistics on disabled workers (Washington Post) (08/27/10)
Attorney says workers' comp director didn't get a fair trial (AP) (08/30/10)

We've been meaning to link to this blog post for a few days but are glad we finally got around to it. Zero Hedge is possibly the best muckraking blog for the trader world, and it feels a bit dangerous (and fun) to link to it. Here, "Tyler Durden" substantiates the Goldman conspiracy myth. Hey, as one investor friend explained, some people on Wall St. are smart enough to foresee cataclysms like the credit crisis--and plan in advance how to profit from them. Also, anybody who's read Andrew Ross Sorkin's recent book will want to read this post for its between-the-lines analysis of "Too Big to Fail."

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Asteroid Insurance ( Daily Planet )

The Wide-Field Infrared Survey Explorer found its first near-Earth asteroid. Luckily, this piece of space rock isn't aiming right for our planet. However, should WISE find an interplanetary projectile that is, we'd be in some serious trouble, according to this article. Hollywood tactics (see Deep Impact and Armageddon) will not work in real life (though we can't remember if they even worked in the movies either).

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Foot in the door: The perfect risk management resume ( FINS )

Here are resume tips for risk managers looking for new work at a financial services firm. Some of the pointers? Highlight past implementations of your findings, show yourself to be a long-term thinker and demonstrate ability to use financial models. (I thought financial models helped to get us in this mess...?)

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Geithner defends bail-out of AIG ( Financial Times )

It is fun keeping up with this fast-moving story. Here, FT reports on the written testimony Treasury Secretary Tim Geithner had to send to Congress about his role in the AIG bailout, specifically how he recused himself after being nominated for the Treasury post in Nov. 2008. The article also hints that moderate Democrats could be sticking with Geithner and that he might not be forced to resign.

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U.S. gets 'F' in preparation for threat of biological terrorism, report concludes ( Kansas City Star )

Two years ago, Congress established a bipartisan commission to assess the nation's readiness to respond to biological terrorism. The commission just issued its report and the United States got an F. Not the kind of grade you want to take home to mom and dad.

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Majority of world's countries miss Copenhagen Accord deadline ( Scientific American )

One part of the Copenhagen Accord signed at that near-historic climate change summit was that nations were supposed to submit action plans to the U.N. by Jan. 31. Most countries failed to meet that deadline. But some biggies did, including the United States, China, India and Australia.

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February 2, 2010

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