Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
Bailout Watchdog Launches Probes of N.Y. Fed’s Disclosure on AIG
Jan 26 2010 // A U.S. bailout watchdog has launched two new investigations into the New York Federal Reserve Bank’s actions on insurer AIG’s disclosure of payments to banks after its 2008 rescue, excerpts of prepared...
AIG Asks Financial Product Employees to Take Retention Pay Cut
Jan 26 2010 // American International Group Inc. has given employees of its Financial Products unit until Tuesday to accept a cut in money owed them under a retention plan in return for an earlier payout, according to proposals obtained...
SEC Considered National Security Status for AIG Bailout Details
Jan 25 2010 // U.S. securities regulators originally treated the New York Federal Reserve’s bid to keep secret many of the details of the American International Group bailout like a request to protect matters of national security,...
Declarations
Jan 24 2010 // No Effective Legal Means “We had no effective legal means to step in and prevent default (at AIG) … without helping this firm meet all its legal obligations.” —U.S. Treasury Secretary Timothy Geithner...
Declarations
Jan 24 2010 // No Effective Legal Means “We had no effective legal means to step in and prevent default (at AIG) … without helping this firm meet all its legal obligations.” —U.S. Treasury Secretary Timothy Geithner...
Geithner Denies Role in Hiding AIG Payments to Banks
Jan 24 2010 // U.S. Treasury Secretary Timothy Geithner said this month the bailout of insurer American International Group was not meant to help out bank counterparties and that he had no role in the decision not to disclose payments...
SEC Order Keeps Some AIG Bailout Terms Sealed Until 2018
Jan 24 2010 // It could take until November 2018 to get the full story behind the U.S. bailout of insurance giant American International Group because of an action taken last year by the Securities and Exchange Commission. In May, the...
AIG Owes $195 Million to Financial Product Unit Employees
Jan 21 2010 // A substantial number of AIG’s Financial Products employees set to get some $195 million in retention payments no longer work with the bailed out insurer, sources familiar with the matter said Wednesday. This will be...
Federal Reserve Defends Dealings Over AIG Payments to Banks
Jan 20 2010 // Federal Reserve officials Tuesday launched a vigorous defense of their dealings with American International Group, calling for a congressional audit and denying any inappropriate action with respect to payments the...
MetLife Eyes $14 Billion Deal for AIG’s Alico Life Insurance Unit
Jan 20 2010 // MetLife Inc. is in talks to buy AIG’s American Life Insurance Co (Alico) unit in a deal that could be valued between $14 billion and $15 billion, a source familiar with the matter said Tuesday. Nothing has been...
General Re Settles Fraud Charges Over AIG, Pru Financials
Jan 20 2010 // The Securities and Exchange Commission today charged General Re Corp. for its involvement in separate schemes by American International Group (AIG) and Prudential Financial, Inc. to manipulate and falsify their reported...
House Panel Asks Paulson to Testify in AIG Probe
Jan 19 2010 // A House panel slated to look into the collapse and bailout of insurer American International Group has widened its probe, adding former Treasury Secretary Henry Paulson to its list of invited witnesses. Paulson, who was...
U.S. Senator Seeks Details on AIG Exec’s Severance
Jan 19 2010 // A watchdog senator Friday asked the Obama administration pay czar to explain why a top AIG executive stands to get a multi-million dollar severance package. Sen. Chuck Grassley sent a letter to pay czar Kenneth Feinberg...
Geithner Denies Role in Hiding AIG Payments to Banks
Jan 15 2010 // U.S. Treasury Secretary Timothy Geithner said Thursday the bailout of insurer American International Group was not meant to help out bank counterparties and that he had no role in the decision not to disclose payments made...
Ex-AIG CEO Greenberg Sees Hope for Overhaul of Bailout
Jan 14 2010 // Former AIG CEO Maurice “Hank” Greenberg said the rising tide of questions about the government’s 2008 rescue of the insurer could be the catalyst for a dramatic overhaul of the bailout. “I believe...
Obama to Seek Fees From Banks, AIG to Recoup Bailout Funds
Jan 14 2010 // President Barack Obama will propose a fee Thursday to recoup from the country’s top financial institutions up to $117 billion lost on a taxpayer bank bailout fund, a senior administration official said. Obama will...
Congressional Pressure Builds to Disclose AIG Payments to Banks
Jan 13 2010 // U.S. lawmakers moved Tuesday to force release of documents that may show whether the New York Federal Reserve pressured insurer AIG to limit discussions about payments to banks when current Treasury Secretary Geithner led...
Secret AIG Filing May Have Revealed Banks With Worst Securities Deals
Jan 13 2010 // Information about the American International Group bailout that regulators agreed to keep secret may reveal which banks held some of the worst performing mortgage-related securities at the time of the rescue. Reuters...
Greenberg Urges U.S. Stake in AIG Below 20% to Attract Capital
Jan 12 2010 // Former AIG chief Maurice “Hank” Greenberg is campaigning for the U.S. government to cut its stake in the insurer to less than 20 percent, saying this would attract new capital to AIG and help taxpayers fully...
SEC Order Keeps Some AIG Bailout Terms Sealed Until 2018
Jan 12 2010 // It could take until November 2018 to get the full story behind the U.S. bailout of insurance giant American International Group because of an action taken last year by the Securities and Exchange Commission. In May, the...
