Federal Reserve Bank of New York News

AIG Bailout Rushed Without Complete Documentation, Fed Lawyer Testifies

The Federal Reserve Bank of New York poured billions of dollars into rescuing American International Group Inc. in September 2008 without drawing up documents that would cement the government’s control of the giant insurer, the bank’s lawyer testified. AIG’s dire …

Judge Denies New York Fed Employee Whistleblower Protection Over Firing

A federal judge on Wednesday dismissed a lawsuit against the Federal Reserve Bank of New York by a former bank examiner who claimed the Fed fired her after she refused to change certain findings about Goldman Sachs Group Inc. U.S. …

Report: Superstorm Sandy’s Fallout Tough on Small Businesses

When suburban New York delicatessen owner P.J. Whelan heard the findings of a Federal Reserve Bank of New York poll released Monday on Superstorm Sandy’s effect on small businesses, he began nodding in agreement. “They got those numbers right,” the …

AIG Ends a Bailout-Related Lawsuit Against N.Y. Federal Reserve

American International Group Inc. has agreed to end litigation against the Federal Reserve Bank of New York over whether the insurer retained the right after its 2008 taxpayer-funded bailout to sue over losses on residential mortgage-backed securities. In a May …

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 …

New York Fed Sells Last of Its AIG Assets, Ending Ties with Insurer

The Federal Reserve Bank of New York brought to a close another chapter in the government’s taxpayer-funded bailouts of 2008 with the sale of its remaining assets of insurer American International Group, the bank said on Thursday. The New York …

Taxpayers See Gain As New York Fed Sells Last of AIG Bailout Bonds

The Federal Reserve Bank of New York on Tuesday sold the remaining portion of mortgage-backed securities acquired in the 2008 rescue of American International Group Inc. The sale to a unit of Credit Suisse Group AG means the U.S. government …