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FRIDAY, NOVEMBER 27, 2009
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NEWS ABOUT: AIG

AIG stories: 205 news summaries

21 - 40 of 205 Stories | << Prev 1 2 3 4 5 6 ... 11 Next >>

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(Newser) - Robert Benmosche has been at the head of AIG for 48 hours now, so naturally it's time for a vacation. The new CEO of the four-times-bailed-out insurer is leaving for his 8,000-square foot villa on the Adriatic for the next two weeks. "It’s probably not a propitious... More »

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executive compensation • Croatia • vacation • AIG • bailout • financial crisis • Wall Street bailout • Robert Benmosche

Obama's Pay Czar Meets With Bailed-Out Firms

Must make tricky decision on how much top execs get paid

Aug 9, 09 12:34 PM CDT
(Newser) - Kenneth Feinberg has one of the hardest jobs in America: Filling in the amount on the paychecks of top execs at the seven firms that received the biggest government bailouts, the Washington Post reports. Feinberg has the power to set the pay for the 125 most highly paid employees at... More »

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Citigroup • executive compensation • Bank of America • AIG • GMAC • performance pay • Kenneth Feinberg

ANALYSIS

 Paulson Still Dogged 
 by Ethics Queries 

Ex-Goldman exec coddled firm as Treasury sec, critics say

Aug 9, 09 11:28 AM CDT
(Newser) - As a former Goldman Sachs exec, Henry Paulson vowed to avoid any potential conflicts of interest when he was appointed President Bush’s Treasury secretary. But seven months after he left office, the nagging questions surrounding Paulson’s tumultuous term in office suggest he may not have succeeded, Gretchen Morgenson... More »

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ethics • Wall Street • Goldman Sachs • Henry Paulson • AIG • Treasury Department • Lloyd Blankfein • bailout • conflict of interest • Wall Street bailout

MARKETS

 Jobs Lift Stocks; Dow Up 114 

Unemployment report fuels rally

Aug 7, 09 3:15 PM CDT
(Newser) - Good news about the labor market fueled a rally in stocks today, the Wall Street Journal reports. Slowing declines in payrolls and a 0.1% drop in unemployment—both figures beat expectations—elevated investor sentiment. AIG jumped 22.2% after reporting a $1.8 billion quarterly profit. The Dow gained... More »

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Dow Jones • unemployment • Nasdaq • AIG • payrolls • job market • S&P 500 • job

(Newser) - The SEC today simultaneously announced a complaint against former AIG chief Hank Greenberg and the resolution of the matter—a $15 million payment to settle the suit, the New York Times reports. Greenberg and a former AIG CFO were accused of “numerous improper accounting transactions” between 2000 and... More »

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insurance companies • accounting • AIG • Hank Greenberg • settlement • Federal government • Securities and Exchange Commission

Wall Street Rakes in $1B in Fees on AIG Breakup

Morgan Stanley set to pocket $250M in  'advisory services'

Aug 6, 09 7:18 AM CDT
(Newser) - The crumbling of AIG forced taxpayers to take on 80% of the company, but breaking the insurance giant up is turning out to be a bonanza for lawyers and banks. The Wall Street Journal calculates that firms will pull in $1 billion in fees from AIG and the Fed—one... More »

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insurance companies • Bank of America • Goldman Sachs • Morgan Stanley • IPO • AIG • fees • financial crisis • Wall Street bailout

MARKETS

 Dow Ends 4-Day Run, Dips 39 

Financials rally against broader slump

Aug 5, 09 3:15 PM CDT
(Newser) - Stocks fell today on dour data, though some financial firms rallied against the broader slump, the Wall Street Journal reports. The private sector lost 371,000 jobs in July, and the Institute for Supply Management’s index of non-manufacturing activity fell to 46.4 from 47.0 in June. Nonetheless,... More »

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Dow Jones • unemployment • Nasdaq • AIG • S&P 500 • CIT Group

(Newser) - Two of the least favorite words in the Wall Street lexicon are back in the news: AIG bonuses. The company is requesting the government's permission to dole out millions more to dozens of top executives, the Washington Post reports. Technically, AIG doesn't need the federal approval, but it's still gunshy... More »

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AIG • bonuses • Wall Street bailout • executive bonuses • Kenneth Feinberg

GLOSSIES

 One Man to Blame at AIG 


Jul 7, 09 7:31 PM CDT
(Newser) - AIG’s contribution to the world financial crisis may be bafflingly complex, but a single villain is emerging, writes Michael Lewis in Vanity Fair. Joseph Cassano was a "cartoon despot" who ran AIG's Financial Products division, now infamous for its credit-default swaps. Cassano, unfortunately, "didn’t fully... More »

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subprime mortgages • insurance • AIG • financial crisis • credit default swap • Joseph Cassano • financial products

(Newser) - The recession has been good to Goldman Sachs: The world’s most powerful investment bank snatched $10 billion in TARP funds, reclaimed $13 billion from AIG, watched archrival Lehman Brothers disintegrate, and found alumni spearheading Washington’s economic rescue effort. But this isn’t new, Matt Taibbi writes in a... More »

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Barack Obama • cap and trade • Goldman Sachs • Henry Paulson • AIG • TARP

(Newser) - AIG 's longtime CEO sold crucial assets in 2005 out of spite, the company's lawyers charged as they opened their civil suit against the ousted exec today in New York. “Hank Greenberg was mad. He was angry,” said a lawyer for the bailed-out mega-insurer. Greenberg was weeks away... More »

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insurance companies • lawyer • AIG • Hank Greenberg • civil trial • opening statement • Starr International

INTERVIEW

Like Father,
Like Son: Dodd Fights for Future

Conn. senator's recent troubles echo those of his disgraced dad

May 31, 09 4:32 PM CDT
(Newser) - For the second time in recent memory, a Senator Dodd from Connecticut is accused of corruption and faces a rocky political future, Newsweek reports. The current senator, Chris Dodd, is a 28-year veteran and former presidential candidate, but after devising an AIG loophole and appearing to make shady housing deals,... More »

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corruption • Connecticut • Chris Dodd • AIG • Countrywide • US Senate

Geithner Back From the Dead, Politically

Once-ridiculed
Treasury chief now on top of his game

May 26, 09 9:51 AM CDT
(Newser) - After a rough start, Timothy Geithner has found his sea legs. Many were calling for the Treasury secretary’s head after his botched handling of February's bailout speech and the AIG bonuses. But, reports Politico, as the economy stabilizes, Geithner’s getting the hang of things. His regular meetings have... More »

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AIG • Treasury Department • bank regulation • Treasury secretary • financial crisis • Timothy Geithner

 Liddy to Leave AIG 


May 21, 09 4:28 PM CDT
(Newser) - AIG chief Edward Liddy is stepping down after eight months on the job, the Wall Street Journal reports. The government appointed Liddy chairman and CEO last fall after the feds bailed out the insurance giant. Liddy recommended splitting the job into two roles and will remain until his replacements are... More »

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Wall Street • CEO • AIG • insurance industry • Edward Liddy

(Newser) - President Obama wants to put the so-called dark markets under control, the New York Times reports, seeking congressional approval to regulate the byzantine world of derivatives trading—which played a large role in the current financial mess. In a letter to lawmakers, Treasury chief Timothy Geithner calls for an oversight... More »

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investing • Wall Street • Warren Buffett • derivatives market • AIG • regulation • Commodity Futures Trading Commission • Obama administration • financial crisis • credit default swap • President Obama • Timothy Geithner • Securities and Exchange Commission

 Fed Knew of AIG Bonuses 
 5 Months Before Storm 

Geithner's New York Fed planned for controversy in Sept. '08

May 13, 09 7:01 AM CDT
(Newser) - Senior officials at the New York Federal Reserve knew about AIG's plans to pay large bonuses more than 5 months before controversy erupted, according to documents seen by the Washington Post. Correspondence and phone records show that the central bank was working with AIG, lawyers, auditors, and PR firms to... More »

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Ben Bernanke • Federal Reserve • AIG • American International Group • Timothy Geithner • New York Federal Reserve Bank

Top Subprime Lenders Owned by Bailout Banks

Analysis of gov't data reveals sources of the economic meltdown

May 6, 09 9:28 AM CDT
(Newser) - Some 21 of the top 25 subprime lenders that triggered the global economic collapse were either owned or financed by banks that ended up needing bailouts, an analysis by the Center for Public Integrity finds. Among the backers, who make huge profits on the subprime business, were Lehman Brothers, Merrill... More »

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Citigroup • subprime mortgages • Wells Fargo • AIG • mortgage loans • GMAC • investment banks • JPMorgan Chase • subprime lender • banks • financial crisis • TARP

AIG's 2008 Bonus Pool Rises to $454M

Company gives congressman the biggest figure yet

May 5, 09 6:04 PM CDT
(Newser) - Lawmakers and journalists keep pressing AIG about how much it paid out in bonuses in 2008, and the number keeps getting bigger, reports Politico. In response to a query from Rep. Elijah Cummings, the company now says it paid $454 million, about 4 times the figure it told Politico in... More »

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Congress • House of Representatives • AIG • bonuses • insurance industry • Edward Liddy • Wall Street bailout • Elijah Cummings • TARP

(Newser) - Until the day Lehman Brothers declared bankruptcy, all three of the major credit-ratings agencies swore its debt was safe, rating it A or better. They rated AIG at AA. And they gave 75% of the $3.2 trillion of subprime mortgage securities iron-clad AAA ratings. Moody’s, S&P and... More »

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subprime mortgages • Lehman Brothers • AIG • mortgage backed securities • Standard and Poor • Moody's • Triple-A credit rating • credit rating • ratings agencies • Fitch Ratings

OPINION

Goldman Back on Top, Thanks to Uncle Sam

Competitors killed off, AIG conveniently saved, bank rakes in profits

Apr 15, 09 8:15 AM CDT
(Newser) - Goldman Sachs reported a $1.8 billion profit yesterday, and it owes it all to its helpful Uncle Sam, writes William Cohan in the New York Times. “Government Sachs,” as it’s come to be known, has been pulling Washington’s strings for years, and now its... More »

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Goldman Sachs • Henry Paulson • AIG

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