The participation of two big insurers in the $700 billion financial rescue contradicted the goals of the government program, according to a bailout watchdog. The inclusion of Hartford Financial Services Group Inc. and Lincoln National Corp. “was incongruous with the …
Officials handling the multi-billion dollar bailout of insurance giant America International Group Inc. mismanaged an initial rescue attempt and may have overpaid other banks to wind down AIG’s business relationships, a government watchdog says. The Federal Reserve Bank of New …
American International Group Inc. has made tangible progress on its restructuring plan and will likely be able to repay the government’s loan and much of its preferred equity stake, Moody’s Investors Service said on Monday. The restructuring plan still relies …
The top financial officer of insurance giant AIG defended the federal government’s $180 billion bailout of the company in a return to his alma mater. Chief financial officer David Herzog, appointed in October 2008 after several years as the company’s …
Insurer American International Group Inc.’s once-desperate financial state has started to stabilize, a government agency said Monday, as an influential lawmaker said he would look at easing the terms of the insurer’s federal bailout once more. AIG’s shares shot up, …
Hartford Financial Services Group Inc. said Friday it has taken $3.4 billion of federal bailout money, the maximum it was authorized to accept, to bolster capital in the wake of large investment losses. The Hartford, Connecticut-based company is one of …
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 …
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 …
If you haven’t felt assaulted by bad economic news lately, you live in the woods with no TV, no newspaper, and no Internet service. The stock market has lost trillions. Real estate values and sales have declined at record rates …
Allstate Corp., the largest publicly-traded U.S. home and auto insurer, said it will not take funds from the government’s Troubled Asset Relief Program, after winning eligibility last week to do so. Chief Executive Thomas Wilson said on Tuesday the Northbrook, …
