Treasury Secretary Tim Geithner had every reason to think he had seen all of AIG’s dirty laundry.
AIG and U.S. Set Faster, Riskier Exit Path Greenberg said the asset sales reduced AIG’s diversification and added risk, especially because property-casualty business is volatile. “If I had the choice, I would sell the domestic life business rather than the Asian business (AIA),” Greenberg said. Benmosche said AIG may at some point consider a partial […]
AIG and U.S. Set Faster, Riskier Exit Path AIG plans to use the proceeds from future asset sales, including the sale of two Japanese life insurance units, to retire the remainder of the Fed’s stake. Prudential Financial Inc clinched a deal for the Japan units — AIG Star Life Insurance Co Ltd and AIG Edison […]
AIG and U.S. Set Faster, Riskier Exit Path When Americans go to the polls for mid-term elections in November, the state of the financial system and the economy will be a big issue. The Troubled Asset Relief Program, set up amid the 2008 financial crisis to shore up the industry, expires on Sunday. Benmosche said […]
AIG and U.S. Set Faster, Riskier Exit Path American International Group Inc and the U.S. government agreed on Thursday agreed on a plan that would accelerate the payback of bailout money and could yield a profit for taxpayers but also increase their risk. The plan comes a little over two years after AIG was first […]
AIG Lays out Government Exit Path, but Risks Rise American International Group Inc laid out a plan on Thursday that sets the company on a path for an accelerated payback of taxpayer bailout money, but also increases the risk for the government. The plan, which comes a little over two years after AIG was rescued […]
Is Maurice Greenberg a liar? That seems to be the multibillion-dollar question in an ongoing court battle that pits Greenberg and his firm Starr International against his former employer AIG. The deeply troubled insurance giant claims Greenberg, through Starr International, improperly gained control of hundreds of millions of shares of AIG stock when he was booted from the company in 2005.
AIG and Maurice “Hank” Greenberg, in their latest legal fight, seem both to be hoping that they can convince a judge and a jury that the ends justify the means, and perhaps also that they are the nicer of the two parties. The insurance company and its former CEO head to court on Monday in a tussle over who should be allowed to keep hundreds of millions of shares of AIG that Greenberg and a company he controls, Starr International, took when he left his former employer
AIG CEO Edward Liddy was a model of fiscal discipline. Appearing before Congress last month, he committed the bailout billionaire to pay back its government loans, clean up the financial mess it created and act as “good stewards of the public funds we have received.” So why is AIG spending tens of thousands of dollars every month on four big p.r
One of the people named this week to President Obama’s new Task Force on Tax Reform is a member of the AIG board of directors.