Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
Former General Re CFO Monrad Sentenced to 18 Months in Prison
Apr 2 2009 // The former chief financial officer at a unit of Berkshire Hathaway Inc. was sentenced to 18 months in prison Thursday for her role in a scheme to manipulate American International Group Inc.’s financial...
Two AIG Directors Will Not Seek Re-Election
Apr 1 2009 // American International Group Inc. directors Virginia M. Rometty and Michael H. Sutton will not seek re-election at the insurer’s annual meeting, an AIG filing with the U.S. Securities and Exchange Commission showed...
Lawsuit Against AIG Seeks Return of Bonuses, Perks
Mar 30 2009 // A lawsuit filed on behalf of shareholders of American International Group Inc. is demanding company executives return millions of dollars in bonuses, dividends and other perks. The lawsuit, which seeks class-action status,...
Ex-AIG Worker Sentenced to 1 Year in Prison for $500K Theft
Mar 27 2009 // A federal judge in Delaware has sentenced a former AIG employee who stole nearly $500,000 over four years to a year and a day in prison Stacey Baisden, who pleaded guilty to mail fraud last year, apologized in court...
AIG Executive Defends Multimillion Dollar Bonuses at Connecticut Hearing
Mar 27 2009 // An executive at American International Group Inc. defended the insurer’s controversial $165 million in bonuses in a hearing in Hartford, saying the recipients did not create the problems that led to a government...
Bank of East Asia to Buy AIG’s Taiwan Securities Unit
Mar 26 2009 // The Bank of East Asia said on Thursday that it has signed a deal to buy the Taiwan securities arm of American International Group as the ailing U.S. insurance giant sells assets to raise cash. “The deal is subject to...
Connecticut Lawmakers Delay Vote on AIG Bill
Mar 26 2009 // The Connecticut House of Representatives is not ready to vote on a bill that would stop companies that received federal assistance, such as American International Group Inc., from awarding bonuses under a state...
AIG, Credit Default Swaps and the Lack of Regulation
Mar 25 2009 // Credit default swaps (CDS’s) total $58 trillion in notional value (face value) worldwide and are regulated by…no one; this according to September 23, 2008, testimony given before congress by Christopher Cox, US...
Obama Team Seeks Powers to Wind Down Non-Banks Like AIG
Mar 25 2009 // The Obama administration Tuesday mounted a full-scale push for government authority to shut down troubled institutions like insurer AIG to avoid the need for future bailouts. U.S. Treasury Secretary Timothy Geithner,...
Treasury’s Geithner, Fed’s Bernanke Testify on AIG, Need for Reform
Mar 24 2009 // U.S. Treasury Secretary Timothy Geithner told an angry Congress on Tuesday that he needs authority to step in to shut down troubled institutions like American International Group to avoid future government...
New York Federal Reserve Chief: U.S. to Get Back All Funds Given to AIG
Mar 24 2009 // The new head of the New York Federal Reserve Tuesday defended saving American International Group from collapse as the right thing to do to prevent further damage to the world economy and said AIG will eventually be able...
15 AIG Employees Give Back Bonuses
Mar 24 2009 // Fifteen of 20 American International Group leading bonus recipients have agreed to give them back in full, said New York’s top legal officer who is probing into $165 million in executive pay at the troubled company...
Senate Push Over AIG Bonuses Appears to Lose Steam
Mar 24 2009 // U.S. Senate Majority Leader Harry Reid vowed Monday to push to recoup millions of dollars in executive bonuses at taxpayer-funded insurer American International Group, but the legislation appeared to be losing momentum in...
It Figures
Mar 23 2009 // $1 Billion The effects of the widespread peanut butter recall could cost rural America’s peanut producers $1 billion in lost production and sales, according to testimony at a House subcommittee hearing. That could be...
Protesters Visit AIG Officials’ Lavish Connecticut Homes
Mar 23 2009 // A busload of activists representing working- and middle-class families paid visits Saturday to the lavish homes of American International Group executives to protest the tens of millions of dollars in bonuses awarded by...
New York Republicans Demand Probe into AIG Campaign Donation
Mar 23 2009 // New York’s Republican Party says the Democrat-controlled state government is ignoring calls for an investigation into a $100,000 donation to the state Democratic Party from American International Group days before...
Connecticut AG Says AIG Bonuses Were Higher than $165M
Mar 23 2009 // Connecticut’s attorney general says documents turned over to his office by American International Group Inc. shows the company paid out $218 million in bonuses, higher than the $165 million previously...
State Regulators Say AIG Insurance Policyholders Still Protected
Mar 23 2009 // The nation’s insurance regulators are again telling policyholders of American International Group (AIG) that the insurance company is able to meet its obligations to them despite ongoing controversy surrounding the...
Michigan Retirement Plan Is Lead Plaintiff in Securities Suit Against AIG
Mar 23 2009 // Michigan Treasurer Robert Kleine and Attorney General Mike Cox say Michigan has been named lead plaintiff in a class action lawsuit against American International Group Inc. (AIG). The State of Michigan Retirement Systems...
Montana State Auditor’s Office Submits Demand Letter to AIG
Mar 20 2009 // Montana State Auditor and Commissioner of Securities Monica Lindeen have sent a demand letter to AIG requesting information about the company’s finances and bonuses. Lindeen is asking her Securities Division to look...
