AIG bailout News

Ex-Executive’s Lawsuit Alleges AIG Defrauded U.S. in Bailout

American International Group Inc. defrauded the U.S. by failing to disclose it was selling insurance without a license during negotiations with the government over a bailout in the financial crisis, a former executive claimed in a lawsuit. Alex Grabcheski, a …

Court Dismisses Ex-AIG CEO Greenberg’s Bailout Lawsuit Against New York Fed

A federal appeals court upheld the dismissal of a lawsuit by former American International Group Inc Chief Executive Maurice “Hank” Greenberg accusing the Federal Reserve Bank of New York of unlawfully bailing out the insurer at the height of the …

Insurers, Customers Were Kept Safe from 2008 Financial Crisis: GAO Report

At a time when efforts are underway to require additional supervision of some large insurers, a new government report concludes that the insurance industry’s own practices and the policies of state and federal regulators successfully shielded most of the $1 …

AIG Ends U.S. Government Interest with Warrant Buyback

Insurer American International Group Inc. eliminated the U.S. government’s last financial interest in the company on Friday, buying back warrants from the U.S. Treasury for about $25 million. The government rescued AIG at the depths of the financial crisis as …

Treasury Pay Czar Allowed Excessive Pay at Bailed-Out AIG, GM: Inspector General

The U.S. Treasury Department in 2012 failed to curb executive pay at companies rescued with taxpayer funds, the second straight year that it did not live up to its own rules, an internal watchdog said on Monday. The inspector general …

Treasury Selling All of Its Remaining AIG Common Stock

The U.S. Treasury is selling its remaining stake in insurer American International Group Inc., bringing an end to government ownership of the company about four years after a $182 billion bailout. The sale will close the chapter on one of …

Ex-AIG CEO Greenberg, Starr May Appeal Dismissal of Bailout Suit

The Federal Reserve Bank of New York won the dismissal of former American International Group Inc. Chief Executive Maurice “Hank” Greenberg’s $25 billion lawsuit accusing it of unlawfully bailing out the insurer during the 2008 financial crisis. The decision issued …

U.S. Treasury Sells $18 Billion of AIG Stock, Cuts Stake to 19%

The U.S. government cut its stake in American International Group Inc. to 19 percent on Monday, making a profit of $12.4 billion on the insurer’s crisis-era bailout and bringing the unpopular rescue closer to its end. The Treasury Department sold …

U.S. Treasury Expects $12.4 Billion Profit from Investment in AIG

The U.S. Treasury said on Monday it expects to raise $18 billion from its sale of American International Group shares, representing a profit of $12.4 billion to date on the Treasury and Federal Reserve’s investment in the insurer. The Treasury …

Treasury Launches $18 Billion AIG Stock Offering

The U.S. Treasury Department said it will sell most of its stake in insurer American International Group Inc., making the government a minority investor for the first time since it rescued the company in the depths of the financial crisis …