Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
400 AIG Financial Unit Employees Promised $650 Million in Bonuses
Mar 17 2009 // American International Group Inc., which received $180 billion in U.S. taxpayer money, disclosed that up to 400 employees would be receiving as much as $650 million in bonuses. The employees, who are part of the financial...
U.S. Modifying AIG Aid to Recoup Financial Products Unit Bonuses
Mar 17 2009 // The U.S. Treasury will modify a planned $30 billion capital infusion for American International Group to try to recoup hundreds of millions of dollars in controversial bonuses paid by the insurer, a Treasury official said...
Iowa’s Sen. Grassley Suggests AIG Execs Consider ‘Japanese’ Suicide
Mar 17 2009 // A prominent U.S. senator has intimated that executives of the troubled insurer American International Group Inc might consider suicide, adopting what he called a Japanese approach to taking responsibility for their...
Obama Wants to Distance Economic Plan, AIG Rescue
Mar 17 2009 // Barack Obama is scrambling to assure Americans he is keenly aware of public outrage over taxpayer-backed bonuses for AIG executives, lest his own economic plan get caught up in the outcry. “How do they justify this...
AIG Bonuses Should Be Delivered By FBI, Says Consumer Group
Mar 17 2009 // Consumer advocates have proposed that federal law enforcement agencies should create a special investigative unit dedicated to unearthing any fraud or misconduct attributable to American International Group (AIG) employees...
Timeline: AIG Developments Since U.S. Bailout
Mar 16 2009 // American International Group Inc., once the world’s largest insurer, nearly collapsed last September under losses from bad mortgage bets made by a financial products unit. The U.S. government has since stepped in...
Rep. Frank: Might Be Time To Fire Some People At AIG
Mar 16 2009 // Amid simmering outrage over $165 million in bonuses paid to executives at ailing AIG, Representative Barney Frank said Monday it may be time to fire some people at the insurance giant. “These people may have a right...
AIG’s European Bank Payments, Bonuses Spark Political Outrage
Mar 16 2009 // Goldman Sachs Group and a parade of European banks were the major beneficiaries of $93 billion in payments from American International Group — more than half of the U.S. taxpayer money spent to rescue the massive...
AIG Bank Payments – Is the Media Missing the Point?
Mar 16 2009 // The Reuters article does basically explain that AIG made payments to Goldman Sachs and “foreign” banks, but it becomes a bit confusing as to why those payments were made. It also muddies the waters with a lot...
Obama Urges All Legal Means to Stop AIG Bonuses
Mar 16 2009 // President Barack Obama told Treasury Secretary Timothy Geithner to take all legal measures to block hefty bonuses awarded to employees of AIG , the insurance company that received up to $180 billion in bailout money, a...
Divorce AIG Style
Mar 15 2009 // Like spouses granted a divorce, AIG’s property/casualty insurance executives are relieved and excited about their newfound freedom. AIG is letting them form their own independent company called AIU Holdings. No...
AIG Agrees to Revamp Bonus Structure
Mar 15 2009 // Embattled insurer American International Group agreed to revamp its bonus structure Saturday after Treasury Secretary Timothy Geithner objected to its plans to pay out substantial sums for 2008, Obama administration...
AIG Collapse Effect on Life Insurance Sector Overstated: Analysts
Mar 13 2009 // AIG’s recent claims that its collapse could threaten not just banking counterparties but also decimate the broader U.S. life insurance industry are alarming but also largely unproven. The contention was made in a...
AIG Bailout Good For Goldman Sachs, Other Banks But Not For Investors
Mar 11 2009 // The $173 billion government rescue of American International Group Inc. is stoking resentment among investors who see it as a backdoor taxpayer bailout of Goldman Sachs Group Inc. and other banks. Six months after the...
AIG Loses Reinsurance Executive to Greenberg’s Starr Company
Mar 10 2009 // AIG senior reinsurance executive Charles Dangelo has left the insurer to join a company run by its former CEO Maurice “Hank” Greenberg. Dangelo joins the growing number of executives who have left American...
Who Got AIG Bailout Funds? Partial List of Firms Published
Mar 9 2009 // Where, oh where, did AIG’s bailout billions go? That question may reverberate even louder through the halls of government in the week ahead now that a partial list of beneficiaries has been published. The Wall Street...
How AIG Fell Through the Regulatory Cracks
Mar 9 2009 // U.S. lawmakers blasted state and federal regulators for dodging blame and keeping secrets after the failure of insurance giant American International Group Inc., which now has access to more than $170 billion in taxpayer...
Divorce, AIG Style
Mar 9 2009 // Like spouses granted a divorce, AIG’s property/casualty insurance executives are relieved and excited about their newfound freedom. AIG is letting them form their own independent company called AIU Holdings. No...
Declarations
Mar 9 2009 // Tools to Intervene “The Texas insurance companies remain well-capitalized. … There has been no bankruptcy filing by the parent company. In the event of any changes in the status of the parent company, our state...
Spinning Off, Not Out of Control
Mar 9 2009 // The new AIU will start out with $45 billion in total revenues — enough to be a Fortune 54 company all by itself. State insurance regulators, like Texas Insurance Commissioner Mike Geeslin and Louisiana’s...
