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 products unit, wrote the …
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 on Monday. The Treasury is …
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 paid bonuses since taxpayers bailed out the company. The California nonprofit …
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 actions. Senator Charles Grassley, the top Republican on the …
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 outrage to the taxpayers …
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 insurer. The revelation on …
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 to their bonuses …
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 with up to $180 billion in financial support …
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 White House adviser said …
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 officials and the company’s chairman said. AIG, which has received …
