The rally in stocks is likely to continue as financials continue to recover with bumper deals associated with AIG and other government programs. Here is a list of fees generated over AIG, im sure these banks couldn't be more happier at this situation...
Among the biggest beneficiaries is Morgan Stanley, which has earned about $10 million assisting the Fed, but could collect as much as $250 million from various AIG-related deals..
Goldman Sachs Group Inc., Bank of America Corp. and J.P. Morgan Chase & Co. have all gotten assignments in recent months to help dismantle AIG...
AIG and the New York Fed, which helps oversee the government's ownership stake in AIG, are paying BlackRock Inc. to manage more than $35 billion of the insurer's toxic assets...
AIG is preparing to offer investors shares in a major Asian life insurance unit, American International Assurance Co., early next year. That initial public offering could raise more than $5 billion. Morgan Stanley and Deutsche Bank have been hired as lead underwriters... Each bank could pocket nearly $45 million in fees...
Accounting firm Ernst & Young has a New York Fed contract that could pay $10 million to $60 million...
Law firm Davis Polk & Wardwell LLP, which was brought into AIG at the peak of its crisis last September, is charging up to $950 per hour for partners' time. That reflects a 10% discount, which "is not a common practice," says Marshall Huebner, Davis Polk's lead attorney on the matter...
Goldman was part of a group of banks that helped AIG raise $1.14 billion this year by selling a large stake in a reinsurance company. The group of banks shared an estimated $39.7 million in fees...
Bank of America advised AIG on the recent sales of its car-insurance unit and a Tokyo building. Those deals generated $5.5 million and $1.9 million in fees, respectively, for the bank and others, according Thomson Reuters and Freeman & Co...
Blackstone Group, which has been advising AIG since last fall, has already brought in around $50 million, according to a person familiar with the matter.
And on and on...
Man what a time to be a Banker!
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