January 21, 2010
A substantial number of AIG’s Financial Products employees set to get some $195 million in retention payments no longer work with the bailed out insurer, sources familiar with the matter said Wednesday. This will be the latest round of retention …
January 20, 2010
Federal Reserve officials Tuesday launched a vigorous defense of their dealings with American International Group, calling for a congressional audit and denying any inappropriate action with respect to payments the bailed-out insurer made to banks. Fed Chairman Ben Bernanke invited …
January 20, 2010
MetLife Inc. is in talks to buy AIG’s American Life Insurance Co (Alico) unit in a deal that could be valued between $14 billion and $15 billion, a source familiar with the matter said Tuesday. Nothing has been finalized yet …
January 19, 2010
A House panel slated to look into the collapse and bailout of insurer American International Group has widened its probe, adding former Treasury Secretary Henry Paulson to its list of invited witnesses. Paulson, who was asked Friday to testify, would …
January 19, 2010
A watchdog senator Friday asked the Obama administration pay czar to explain why a top AIG executive stands to get a multi-million dollar severance package. Sen. Chuck Grassley sent a letter to pay czar Kenneth Feinberg asking him to explain …
January 15, 2010
U.S. Treasury Secretary Timothy Geithner said Thursday the bailout of insurer American International Group was not meant to help out bank counterparties and that he had no role in the decision not to disclose payments made to banks. In his …
January 14, 2010
Veteran insurance executive Maurice “Hank” Greenberg bristles ever so slightly when asked about his upcoming 85th birthday. “There are two types of birthdays — chronological and biological. Doctors tell me biologically I am 25 years younger,” the former AIG chief …
January 14, 2010
Former AIG CEO Maurice “Hank” Greenberg said the rising tide of questions about the government’s 2008 rescue of the insurer could be the catalyst for a dramatic overhaul of the bailout. “I believe that for the first time there is …
January 13, 2010
Information about the American International Group bailout that regulators agreed to keep secret may reveal which banks held some of the worst performing mortgage-related securities at the time of the rescue. Reuters reported Monday that the Securities and Exchange Commission …
January 13, 2010
U.S. lawmakers moved Tuesday to force release of documents that may show whether the New York Federal Reserve pressured insurer AIG to limit discussions about payments to banks when current Treasury Secretary Geithner led the New York Fed. The Democrat …