Credit default swaps are “instruments of destruction” that should be outlawed, billionaire investor George Soros said on Friday. Soros said the asymmetry of risk and reward embedded in CDS exerted so much downward pressure on the bonds underlying the contracts …
The government bailout of AIG and controversial bonuses paid by the insurer cannot be brought up during trial of the company’s suit involving former CEO Maurice “Hank” Greenberg, a judge ruled on Monday. As the trial opened before a jury …
AIG, days before a high-profile legal fight with a company controlled by former CEO Maurice Greenberg heads to court, promised to use any funds won at trial to repay U.S. taxpayers. “While any relief granted for AIG’s equitable and legal …
AIU Holdings, Inc. said it has sold a portion of its investment in Transatlantic Holdings, Inc, receiving cash of approximately $500 million. AIU said the transaction demonstrates progress toward the sale of AIU Holdings’ interests in TRH, and advances its …
The U.S. Federal Reserve drew back the curtain on its emergency repairs to the financial system on Wednesday, showing $5.3 billion in losses on assets taken over from firms it bailed out in 2008. In a report on its $2.1 …
The Obama administration on Wednesday will name a pay czar with the power to reject compensation plans for top employees at companies receiving “exceptional” government aid, an administration official said Wednesday. The administration will also call for “say-on-pay” legislation that …
American International Group Inc. has picked a group that includes private equity firms Onex Corp and Greenbriar Equity Group as the preferred bidder for its aircraft leasing unit, a source familiar with the situation said Friday. However, the insurer has …
American International Group, Inc. (AIG) announced that an underwritten public offering of 26 million shares of Transatlantic Holdings, Inc. (NYSE: TRH) common stock owned by AIG and its subsidiary, American Home Assurance Co. (AHAC), was priced at a public offering …
American International Group Inc. is in talks to line up financing to facilitate the sale of its aircraft leasing unit, but it will consider options such as selling some aircraft if it fails to do so, a person familiar with …
A Michigan man who is challenging the government’s bailout of American International Group has won an early legal victory. U.S. District Judge Lawrence Zatkoff recently refused to dismiss a lawsuit filed in December on behalf of Kevin Murray of Washtenaw …
