The financials sector is never short on news, but if you're short on time, let me do the leg work for you. I've dug through the Fool's financial sector coverage over the past week to highlight three stories you don't want to overlook.
Read on for this week's big news.
1. 3 Important Points From the Fed's Announcement
On Wednesday, the Fed released a statement following its two-day policy meeting outlining the steps it will take "to minimize unemployment and maintain price stability." John Maxfield lays out the three most important points, noting that four big banks, including Bank of America (BAC 0.41%) and Wells Fargo (WFC 1.73%), were trading up on the news. Are you paying attention?
2. What Berkshire's Buyback Means for You
On Wednesday, Warren Buffett's Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B) announced a share repurchase plan to the tune of $1.2 billion. John Maxfield explains why some commentators have called the buyback "weird" -- is Buffett doing someone a favor, or is this move truly in the best interests of shareholders?
3. What You Need to Know About AIG's Recent Moves
On Tuesday, the Treasury announced that it will be selling its final stake in insurance giant American International Group (AIG +5.41%) in a public offering. AIG will be government-free again -- thumbs up!
At the beginning of the week, AIG itself announced that it will be selling 80.1% of its aircraft leasing company, International Lease Finance Corporation (ILFC), to a Chinese consortium led by New China Trust Co Ltd. Rich Smith explains why this move is "a good-news, bad-news situation" for investors. Thumbs... sideways.
And lastly, as the numbers roll in, it turns out AIG's payouts for Hurricane Sandy are higher than many expected -- and higher than those most other insurers are dealing with. Thumbs down. Can the bulky insurer handle it?
Matt Koppenheffer provides yet another reason to be wishy-washy on AIG: With the insurer successfully shedding both the federal government's stake in the company and the arguably distracting ILFC, the future is far from certain for Robert Benmosche, the CEO behind AIG's impressive turaround. If his time at AIG is indeed coming to an end, what would a major management shift mean for the company's bottom line?
That's all, folks. Next week will bring new headlines, and the Fool will be here to cover them, letting you know how they affect your investments.
