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Officials handling the multibillion dollar bailout of insurance giant American International Group Inc. mismanaged an initial rescue attempt and may have overpaid other banks to wind down AIG's business relationships, a government watchdog says.
American International Group Inc.'s CEO Robert Benmosche said Wednesday he plans to stay in his job at the embattled insurer.
After just three months as head of embattled insurer American International Group, Robert Benmosche has threatened to leave his post as he struggles to deal with heavy government oversight and restrictions on what the bailed-out company can pay employees, according to a published report.
Shares of American International Group Inc. climbed Tuesday after Moody's Investor Service analysts said they believe the company will have the resources to fully repay the federal government.
AIG said Friday it was profitable for the second straight quarter as its core insurance operations continue to stabilize after the company's bailout by the government last year.
American International Group Inc. has dropped plans to sell two Japanese subsidiaries, according to a published report, deciding the company will get more value from holding on to them.
Shares of American International Group Inc. fell Tuesday as the company continues to face challenges in repaying government funds.
The top financial officer of insurance giant AIG defended the federal government's $180 billion bailout of the company in a return to his alma mater.
American International Group Inc. said Monday it loaned another $2 billion in government-backed funds to its aircraft leasing unit to help its short-term financing needs.
Treasury Secretary Timothy Geithner is "ultimately responsible" for regulators' failure to rein in massive bonus payments at American International Group because he led the agencies that provided AIG's lifelines, according to a bailout watchdog.
Insurer American International Group Inc. said late Monday it has agreed to sell its nearly 98 percent stake in Taiwan unit Nan Shan to an investor group led by Hong Kong's Primus Financial for about $2.15 billion.
American International Group Inc. is again hosting some of the nation's top financial advisers and says that this time, the gathering at a California resort will cost it just $30,000.
Shares of American International Group Inc. jumped more than 20 percent Monday after the head of the House Committee on Oversight and Government Reform said that panel will examine a plan to reduce the company's massive bailout package.
A former executive of Berkshire Hathaway's General Re was sentenced Tuesday to two years probation for his role in a financial scandal that cost shareholders of insurer American International Group Inc. more than $500 million.
Wells Fargo Securities downgraded American International Group. Inc. to its lowest rating Friday, saying the insurer has "virtually no tangible book value at the moment" and the recent volatility in its shares, including a huge rally in August, is a mystery.
American International Group Inc. said Saturday it reached a deal to sell a portion of its asset management business to a Hong Kong-based investment firm for $500 million.
A judge on Monday dealt a setback to American International Group Inc. in its legal fight with former CEO Maurice "Hank" Greenberg, ruling that a company he ran did not improperly seize AIG stock from an executive retirement plan.
The head of the aircraft leasing company owned by the financial services company American International Group is reportedly talking about buying a part of the business. The aircraft leasing company has been up for sale for more than a year.
Among the stock activity stories for Thursday, Aug. 27, from AP Financial News:
Shares of American International Group Inc. surged Thursday as analysts speculated the company might be reconciling with former CEO Maurice "Hank" Greenberg, who could help bring private capital and other business benefits to the company.
A federal judge has thrown out one lawsuit against American International Group Inc. alleging it defrauded about 600 workers compensation insurance companies but another case, which is seeking class-action status, will move forward.
Shares of American International Group Inc. skyrocketed Thursday after the company's new CEO was quoted by Bloomberg News as saying the company will repay its debts to the government.
The White House is fine with bailed-out insurer AIG's decision to pay its new CEO $7 million a year.
American International Group Inc.'s new CEO will be paid a yearly salary worth $7 million and could earn millions more in performance-based incentives, the bailed-out insurance giant said Monday.
Former American International Group Inc. CEO Maurice "Hank" Greenberg and others have agreed to pay $115 million to settle fraud claims in a lawsuit filed on behalf of three Ohio state pension funds and shareholders across the country.
Is Tim Geithner tough enough to handle America's banks? Remember the AIG bonus furore? It was mid-March, the global economy was in the depths of recession, and AIG – the insurer American International Group that once sponsored Manchester United – revealed that it was on the verge of paying $165m in bonuses to staff at the division …
If Salaries Matched Arrogance, AIG's Benmosche is Worth Every Dime of $3M-PlusAIG's CEO Robert Benmosche is one arrogant and clueless piece of work -- like a reincarnation of Marie Antoinette. According to The New York Times, AIG's CEO Robert Benmosche is so upset about pay restraints the U.S.
AIG chief threatens to walkRobert Benmosche has threatened to step down as chief executive of American International Group, just three months after taking the helm of the insurance company that's received billions in government aid, according to a report published Wednesday.
ReWorking AIGSomebody is really trying to push the idea that AIG is full of unappreciated talent. This story is only about the speculation that AIG might lose customers to competition if executive pay is based on performance and capped for malicious idiocy like we've seen from AIG.
AIG Contracts Complicate Czar's Pay Cuts, my life is complicated too!CHICAGO -- U.S. pay czar Kenneth R. Feinberg cut compensation at American International Group Inc. by $28.4 million, but employment contracts will funnel additional pay to three top employees, according to a document released by the Treasury Department.
Examiner Editorial: Uncovering the bull under the bailout. Examiner Editorial, October 23, 2009Congress put American taxpayers on the hook for $700 billion last year when it approved the massive bailout to paper over the imprudent lending decisions of nine Wall Street giants: Bank of America, Citigroup, Wells Fargo, JP Morgan Chase, Goldman Sachs, Morgan Stanley, Merrill L …
Washington's Bank Pay CrackdownWashington launched its biggest offensive yet against runaway Wall Street pay practices Thursday, taking aim at everyone from senior executives to high-flying traders of complex securities.
U.S. to Order Pay Cuts at 7 Companies With Bailout Aid WASHINGTON — Responding to the furor over executive pay at companies bailed out with taxpayer money, the Obama administration will order the firms that received the most aid to slash compensation to their highest-paid employees, an official involved in the decision said on Wedn …
Administration Said to Order Deep Cuts in Pay at Bailed-Out Companies Responding to the growing furor over the paychecks of executives at companies that received billions of dollars in federal bailouts, the Obama administration will order the companies that received the most aid to deeply slash the compensation to their highest paid executives, an …
Rachel Maddow, Eliot Spitzer Interview: Spitzer Discusses Financial Crisis And Past Escort Scandal (VIDEO)Spitzer had some pointed criticism for the way the Obama administration has been handling the bank bailouts.
Get Over It? Not Even CloseIn case you're not ready to roll over and let the banks (and pretend banks, like Goldman Sachs) have their way with you, I just thought you should know you have a little company.
Zippity Do Da! The Dow Jones index closed above 10,000. That is of course made possible by the fact that GM isn't part of the index anymore. If you were an investor in GM, Fannie Mae or AIG too bad for you, your portfolio still has a big hole in it.
Bizarre Christian Billboard Compares Atheism to MurderA Christian apologetics group calling themselves :Answers in Genesis" (AIG) has unveiled controversial billboards to challenge evolution and and atheism.
America's Teacher:A conversation with Michael Moore about "Capitalism:A Love StoryNaomi Kein: Well, I want to push you a little bit on this, because I understand what you're saying about the way he's (Obama) lived his life and certainly the character he appears to have.
We, the taxpayers and citizens of the United States, continue to be assaulted by, and manipulated by, petty distractions. Those on the left and on the right are inundated by emotional issues that we can be convinced are central to our continued survival.
Where was the Tea Party movement when the tax burden was shifted onto Tea Partiers? Where was the Tea Party movement when the tax burden was shifted from the high end to the middle? Where were the patriots when Wall Street, backed in Congress by Senator Phil Gramm of Texas, rewrote securities laws so that the wonder boys of Lehman and A.I.G.
Who Really Benefits from Bigger Government? (Hint: It's not You)As the government gets larger and takes on more responsibilities, deep divisions are developing between more-government and less-government Americans. Both sides are seeing their standard of living drop, and are seeing more of their money seemingly vanish before their eyes.
No Economic Recovery in Sight: More Financial Chaos AheadNo Economic Recovery in Sight: More Financial Chaos Ahead By Bob Chapman, The International Forecaster (reposted on DProgram.net)
A.I.G. Rises, and Many Ask WhyIt may have been written off as a hopeless case less than a year ago, but the stock of the American International Group shot up to $50 on Thursday, capping a fourfold gain in the last two months.
New AIG CEO Live, on Holiday, from His Palatial 12-bathroom Adriatic GetawayWearing flip-flops, khaki shorts and a green polo shirt, the new chief executive of bailed-out insurer American International Group Inc says he's getting a lot of work done from his massive villa overlooking the Adriatic.
Good Old Fashioned Service - Your Ice Cream Free - We Don't Take American ExpressIn lieu of accepting the American Express card? Free ice cream. Now that's a new twist! It probably would have been $15.00 in fees eaten up anyway. What a novel concept!
Economic Time-Bomb Being Mishandled by the Obama Administration?Is there a ticking time-bomb for the US economy? And is the Obama administration, Congress, and the media not paying it sufficient attention? That seems to be the message of a government report released this week that drew not as much notice as it deserves.
The New York Times just "dumped a gigantic bucket of kerosene on the Goldman Sachs conspiracy fire,"The Times obtained records showing that then–Treasury Secretary Henry Paulson was in steady contact with Goldman, his former firm, as the government was planning the AIG bailout last September.
AIG posts first profit in two years - MarketWatchThe company /quotes/comstock/13*!aig/quotes/nls/aig (AIG 24.18, +1.65, +7.33%) said on Friday that it posted its first profit since the third quarter of 2007, earning $1.82 billion, or $2.30 a share in the second quarter, compared to a loss of $5.36 billion, $41.13 a share a year …
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