President Barack Obama’s pay czar Wednesday predicted the issue of hefty bonuses for AIG employees would end in March and denied a Republican claim that the firm outmaneuvered the Obama administration. “It ends this March with the last of these …
An 82-year-old Massachusetts woman struck by a fire hose that had come loose from a Cambridge fire engine that was responding to call has died. Cambridge police says Gertrude King died Thursday morning at Massachusetts General Hospital, two days after …
A controversial regulatory filing detailing the federal bailout of American International Group Inc. could put the spotlight back on the former executive who headed the division most responsible for the insurer’s near collapse in September 2008. The five-page filing raises …
Most current employees at the financial products unit of American International Group Inc. eligible for money owed them under a retention plan told the company they would accept less money in return for an earlier payout, a source familiar with …
U.S. Treasury Secretary Timothy Geithner flatly denied any role in counseling American International Group Inc. to keep quiet about payments it made to leading banks during a 2008 rescue of the stricken insurer. Geithner faces a grilling on Wednesday before …
Former U.S. Treasury Secretary Henry Paulson staunchly defended the decision to rescue troubled insurer American International Group Inc. in 2008 and said he and others involved acted properly. In testimony prepared for a hearing Wednesday of the U.S. House of …
An overseer for the U.S. bailout program said Tuesday that France’s banking regulator was open to further negotiations over possible concessions on payments from bailed out insurer AIG, according to prepared congressional testimony. Neil Barofsky, the special inspector general for …
American International Group Inc. has given employees of its Financial Products unit until Tuesday to accept a cut in money owed them under a retention plan in return for an earlier payout, according to proposals obtained by Reuters Monday. The …
A U.S. bailout watchdog has launched two new investigations into the New York Federal Reserve Bank’s actions on insurer AIG’s disclosure of payments to banks after its 2008 rescue, excerpts of prepared congressional testimony showed on Monday. Neil Barofsky, the …
U.S. securities regulators originally treated the New York Federal Reserve’s bid to keep secret many of the details of the American International Group bailout like a request to protect matters of national security, according to emails obtained by Reuters. The …
