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WEDNESDAY, NOVEMBER 25, 2009
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NEWS ABOUT: AIG

AIG stories: 205 news summaries

81 - 100 of 205 Stories | << Prev 1 2 3 4 5 6 7 8 9 ... 11 Next >>

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AIG's Money Lined Pockets
in Washington

Dodd, Bush, Obama campaigns benefited from insurer's largesse

Mar 19, 09 9:51 AM CDT
(Newser) - Chris Dodd has been a major AIG critic of late, but the Senate Banking chairman also has the uncomfortable distinction of being the politician to benefit the most from the insurer’s generosity, the Wall Street Journal reports. AIG employees have donated $280,000 to Dodd over the years,... More »

MORE ABOUT:
Barack Obama • Chris Dodd • lobbying • AIG • political donations • George W. Bush

OPINION

 Welcome Back, Loudmouth 

Journal responds to Spitzer's sniping

Mar 19, 09 9:20 AM CDT
(Newser) - Taking potshots from Eliot Spitzer yesterday felt just like old times to the Wall Street Journal editorial board. "The Journal editorial page has been wrong on just about every issue out there," Spitzer told interviewer Brian Lehrer after being reminded of the paper's criticism of his efforts... More »

MORE ABOUT:
Wall Street Journal • Eliot Spitzer • AIG • bonuses

ANALYSIS

Geithner Swinging in Wind After Fed Drops AIG Ball

Treasury says Fed kept them in dark, despite sec's previous role

Mar 19, 09 8:35 AM CDT
(Newser) - Officials at the Fed knew about AIG's plan to award $165 million in bonuses for months but failed to tell the Obama administration, reports the Washington Post. Treasury Secretary Tim Geithner said this week he was "stunned when I learned how bad this was"—belatedly on March 10—... More »

MORE ABOUT:
Barack Obama • executive compensation • Federal Reserve • AIG • Federal Reserve Bank of New York • Timothy Geithner • Paul Kanjorski

ANALYSIS

 How Obama Can 
 Reboot Geithner 

Treasury sec needs a freer hand and more staff to survive

Mar 19, 09 7:55 AM CDT
(Newser) - Three times in 3 days the president has had to offer a defense of Tim Geithner, who will almost certainly remain Treasury secretary despite calls to resign. As Eamonn Javers reports in Politico, the White House now has to perform some crisis management: Keep Geithner out of the spotlight, allow... More »

MORE ABOUT:
Barack Obama • AIG • Treasury Department • crisis management • Treasury secretary • Timothy Geithner

'AIG Buck 
Stops 
With Me' 

'I'll take responsibility,' he tells Californians

Mar 19, 09 4:56 AM CDT
(Newser) - President Obama began a two-day swing through California yesterday, again accepting blame for the AIG mess and urging Washington to stop its finger-pointing, the Wall Street Journal reports. “Washington is in a tizzy and everybody is pointing fingers at each other and saying it's their fault, the Democrats' fault,... More »

MORE ABOUT:
Barack Obama • California • Orange County • AIG • economy • fiscal crisis

 House Votes Today 
 on Bonus Clawback 



Bill being rushed through would slap 90% tax on bonuses at bailed-out firms
 

Mar 19, 09 3:51 AM CDT
(Newser) - The House will vote today on a hastily crafted bill to claw back bonuses from executives at AIG and other bailed-out firms, reports the Hill. The bill, drawn up by Democratic tax experts, slaps a 90% tax on bonuses over $250,000 at firms that received $5 billion or more... More »

MORE ABOUT:
Congress • executive compensation • House of Representatives • AIG • bonuses • bailout • Wall Street bailout

 Dodd: 'I Saved 
 AIG Bonuses at 
 White House 
 Request' 

He was follwoing White House orders, sayd Senate Banking Committee chair

Mar 19, 09 2:32 AM CDT
(Newser) - The bonus loophole mystery has been solved. Banking Committee Chairman Sen. Chris Dodd added language to the stimulus bill that allowed the AIG bonuses to stand—at the request of the White House, he told CNN. The Connecticut Democrat said he did so reluctantly at the insistence of unnamed Obama... More »

MORE ABOUT:
Chris Dodd • AIG • bonuses • Senate Banking Committee • bailout • fiscal crisis

Frank's House Panel to Grill Geithner Twice

Another Republican congressman calls
for him to resign

Mar 18, 09 4:17 PM CDT
(Newser) - As criticism of Treasury Secretary Timothy Geithner mounts, he is scheduled to take his place on the hot seat next week, the Wall Street Journal reports. Geithner will appear before Barney Frank's House panel—the same one grilling AIG chief Edward Lilly today—Tuesday and Thursday. Two Republican congressmen, Connie... More »

MORE ABOUT:
Congress • AIG • bonuses • Barney Frank • Treasury secretary • Timothy Geithner

 Just Quit, 
 Geithner: 
 GOP Rep. 

AIG bonuses is latest of Tim's failings: Mack

Mar 18, 09 1:35 PM CDT
(Newser) - The AIG bonus flap is the last straw for Rep. Connie Mack, who today called for Treasury Secretary Timothy Geithner to resign or be fired, USA Today reports. “The scandal is but the latest fiasco under his watch,” said the Florida Republican, the first among GOP congressmen to... More »

MORE ABOUT:
GOP • AIG • bonuses • House Republicans • Treasury secretary • President Obama • Timothy Geithner • Connie Mack

(Newser) - All the hubbub around AIG and its bonuses is “a complete farce,” Larry Kudlow writes in the National Review. No one should be surprised that those in charge have “completely bungled” the situation. “The government shouldn’t run anything, because it cannot run anything,” Kudlow... More »

MORE ABOUT:
executive compensation • AIG • credit crisis • bonuses • Obama administration • Wall Street bailout • President Obama • Timothy Geithner • TARP • Larry Kudlow

(Newser) - AIG CEO Edward Liddy faced the music today, telling a House subcommittee he has asked employees who received generous bonuses to give at least half of the money up, and some have already agreed to do so. Liddy jousted with Barney Frank, who threatened to subpoena the company after Liddy... More »

MORE ABOUT:
AIG • bonuses • Barney Frank • Edward Liddy

AIG Chief: I'm Angry About Bonuses, Too

Liddy blames 'cold realities of competition,' legal issues

Mar 18, 09 9:57 AM CDT
(Newser) - Lawmakers read Edward Liddy the riot act today over AIG’s recent bonuses, CNNMoney reports, and the company’s CEO was expected to say he, too, found them “distasteful,” but felt he had to disperse them. “We have to continue managing our business as a business, taking... More »

MORE ABOUT:
Congress • testimony • AIG • Edward Liddy

OPINION

White House Foists Bonus Blame on Dodd

Guilty Obama officials seek to shift AIG fault, press plays along

Mar 18, 09 9:31 AM CDT
(Newser) - The White House is trying to pass the AIG bonus blame to Sen. Chris Dodd, pointing to his hand in an executive-compensation clause inserted into the stimulus bill—and journalists are letting it happen, writes Glenn Greenwald in Salon. Actually, the bonuses were only possible because the Obama administration insisted... More »

MORE ABOUT:
New York Times • Chris Dodd • AIG • bonuses • economic stimulus package • Larry Summers • Timothy Geithner

 AIG Bonuses By the Numbers 

NY AG releases breakdown of bonus figures; plans to press AIG for names

Mar 18, 09 8:37 AM CDT
(Newser) - AIG's $165 million in bonuses went 418 different ways, according to one angry attorney general. Other figures released by New York Attorney General Andrew Cuomo, who subpoenaed the firm on Monday:
  • 73 employees received bonuses of $1 million or more
  • 11 of those people no longer work for AIG
... More »

MORE ABOUT:
executive compensation • Andrew Cuomo • AIG • bonuses • bailout • Wall Street bailout

AIG's Bailout Cash Flowing to Hedge Funds

$52B has paid off
those who bet against the housing market

Mar 18, 09 7:30 AM CDT
(Newser) - The government cash flowing steadily into AIG is going in no small part to pay off hedge funds that bet against the housing market, the Wall Street Journal reports. The hedge funds placed credit default swap bets with other banks—Deutsche Bank and Goldman Sachs are specifically named in documents... More »

MORE ABOUT:
housing market • Goldman Sachs • Deutsche Bank • AIG • subprime crisis • credit default swap

OPINION

 AIG CEO: Bonuses 
 'Distasteful,' Necessary 

Liddy says paying employees will help taxpayer in long run

Mar 18, 09 6:23 AM CDT
(Newser) - AIG's $165 million bonus payout has produced "a palpable wave of anger," admits Edward Liddy, the insurance giant's government-appointed CEO. But in an op-ed for the Washington Post, Liddy says that paying employees now will prevent "undue risk" and help AIG wind down the most dangerous positions... More »

MORE ABOUT:
executive compensation • AIG • bonuses • bailout • Edward Liddy • financial crisis • credit default swap

 Geithner: We'll 
 Deduct AIG 
 Bonuses From 
 Next Bailout 

Insurer will be forced to return $165 million, treasury boss says in letter

Mar 18, 09 4:43 AM CDT
(Newser) - Treasury Secretary Tim Geithner promised last night that taxpayers wouldn't be paying a penny toward AIG's massive executive bonuses, Bloomberg reports. He explained in a letter to lawmakers that the government would require the insurer to pay back the $165 million from company operations and that an equal amount would... More »

MORE ABOUT:
executive compensation • AIG • bonuses • bailout • Wall Street bailout • Timothy Geithner

(Newser) - AIG chief Edward Liddy has the not-so-distinct pleasure of testifying before Congress tomorrow just as rage at his company is reaching a full-throated roar. The House and Senate seem to be in a race to see who can recover the $165 million in bonuses faster, the Hill reports. If AIG... More »

MORE ABOUT:
Wall Street • insurance companies • AIG • bonuses • bailout • Edward Liddy

(Newser) - The AIG fury grows. The White House today found itself defending Treasury chief Tim Geithner's handling of the bonus mess as congressional anger rose. Under siege by reporters about why the Obama administration didn't act sooner, spokesman Robert Gibbs said the president retains full confidence in Geithner, the Los Angeles ... More »

MORE ABOUT:
Wall Street • AIG • bonuses • Robert Gibbs • President Obama • Timothy Geithner

OPINION

Spitzer: AIG Bailout an 'Inside Job'

Scandal isn't bonuses, it's payments to influential debtors

Mar 17, 09 1:43 PM CDT
(Newser) - Eliot Spitzer is mad about AIG, and not because it’s giving out bonuses. No, the real scandal, he writes for Slate, is the tens of billions of taxpayer dollars going to pay back AIG’s counterparties. The decision to bail out AIG was made by Henry Paulson, Timothy Geithner,... More »

MORE ABOUT:
Goldman Sachs • Henry Paulson • Eliot Spitzer • AIG • Lloyd Blankfein • bailout • Timothy Geithner

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