It’s a $150 billion gamble. That’s the size of the newly enlarged financial lifeline the U.S. government threw tottering insurance giant American International Group on Monday, expanding an aid package that’s gradually grown since it began as an $85 billion …
American International Group, Inc. (AIG) today announced agreements with the U.S. Treasury and the Federal Reserve to establish a durable capital structure for AIG, and facilities designed to resolve the liquidity issues AIG has experienced in its credit default swap …
The U.S. government dramatically boosted its bailout of insurer American International Group Inc. and eased the terms of its loans to the company on Monday after an initial rescue plan failed to stabilize the company. Under the new plan, the …
Democratic Sen. John Kerry’s Republican challenger in Massachusetts called on him to sell any stock he has in insurance giant American International Group and donate all campaign contributions from officials at the company to taxpayers. Republican Jeff Beatty said the …
American International Group executives and several financial regulators are scheduled to testify today at a Capitol Hill hearing on the circumstances leading up to $85 million government loan to AIG. The House Committee on Oversight and Government Reform will hold …
Washington policymakers had no choice but to rescue American International Group Inc. after a dramatic investor crisis left the giant insurer starved for cash, New York insurance chief Eric Dinallo told lawmakers Tuesday. “Was the bailout necessary? I believe it …
Midwestern reaction to a proposed bail out of insurance giant American International Group (AIG) has been varied. In Chicago Mayor Richard Daley is not happy about the Federal Reserve Bank’s decision to provide an $85 million bailout of AIG. Daley …
The House of Representatives voted 263-171 to pass a $700 billion Wall Street rescue bill and sent it to President Bush, who signed it into law this afternoon. The Senate passed the measure earlier this week. The House had defeated …
Leaders in the U.S. Congress have deployed their best weapon for winning passage of a $700 billion financial industry bailout just weeks before the elections, attaching tax cuts to an otherwise bitter pill. The Senate aims to vote at some …
President Bush Tuesday said the U.S. economy was depending on decisive action from the government on a financial bailout plan or the economic damage could be “painful and lasting.” “I assure our citizens and citizens around the world that this …
