AIG understated the amount of money it paid out to top executives after receiving federal bailout money, the attorney general of Connecticut says — but AIG denies the accusations.
Connecticut attorney general says AIG understated bonuses
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America has a new enemy
Forget Al Qaeda, Weapons of Mass Destruction and the Axis of Evil. A once obscure acronym is on the lips of President Barack Obama, just about every politician in Washington and a lot of angry taxpayers nationwide. It’s AIG., American International Group, a trillion-dollar company operating in 130 countries that was one of the most trusted names on Wall Street
Watch AIG’s payouts, not the bonuses, Spitzer says
Outrage over bailed-out insurance giant American International Group’s million-dollar bonuses may grab headlines, but its payouts on complicated financial instruments deserve closer examination, ex-New York Gov. Eliot Spitzer said Thursday
Dodd suggests tax to recoup AIG bonuses
Sen. Christopher Dodd on Monday suggested a tax provision to recoup the bonuses for executives of ailing insurance giant AIG.
Obama’s AIG Outrage: All Talk, No Action
In the middle of decrying the misdeeds of the financial firm AIG, President Obama cracked a joke. “Excuse me,” he said Monday, after coughing into the microphone.
AIG names recipients of its bailout money
Troubled insurance giant AIG, already under fire for intending to pay out $165 million in bonuses and compensation, succumbed Sunday to congressional pressure, identifying banks that received chunks of the company’s billions in federal bailout funds last year. AIG, a recipient of at least $170 billion in federal bailout money , got an $85 billion loan from the Federal Reserve. The list released Sunday of “counterparties” that benefited from the bailout is topped by European banks Societe Generale and Deutsche Bank, which received $4.1 billion and $2.6 billion, respectively.
Dow slumps as AIG notches record loss
Wall Street’s benchmark Dow Jones index plunged Monday to close at levels not seen since 1997 — after U.S. insurance giant AIG revealed monumental quarterly losses of $62 billion. AIG’s results came hours after the U.S
Is AIG facing collapse? The losses explained
Global stock markets were reeling Monday as U.S. insurance giant AIG revealed losses of $62 billion — the largest quarterly loss in corporate history. In a statement issued Sunday, the U.S