Skip to: Content
Skip to: Site Navigation
Skip to: Search
SUNDAY, NOVEMBER 22, 2009
| Subscribe to Newser's RSS feeds RSS | Follow Newser on Twitter Twitter

NEWS ABOUT: Hank Greenberg

Hank Greenberg stories: 18 news summaries

 Ousted AIG CEO 
 Builds AIG 2— 
 With AIG Talent 

Greenberg's new insurer poaches AIG employees at taxpayers' expense

Oct 27, 09 7:47 AM CDT
(Newser) - Hank Greenberg built AIG into a $1 trillion behemoth that needed the biggest bailout in history—but quietly, the former CEO has begun a new insurance company, CV Starr, that is poaching some of AIG's leading talent. He just got an unintended assist from the Treasury: Tough new pay rules... More »

MORE ABOUT:
Iraq • executive compensation • insurance • AIG • Hank Greenberg • bailout • financial crisis

MARKETS

 Dow Climbs 37 
 on Day 8 of Streak 

Eight-day winning stretch is first in 28 months

Aug 27, 09 3:19 PM CDT
(Newser) - Stocks closed up today as the Dow continued its modest winning streak for an eighth day—the longest period of gains in 28 months—though trading volume remained light, the Wall Street Journal reports. An auction of 7-year Treasury notes saw decent demand. AIG shares rose 28.8% on reports... More »

MORE ABOUT:
Dow Jones • Nasdaq • AIG • Hank Greenberg • S&P 500 • Treasury bills • Treasury note

(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 »

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

(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 »

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

 AIG Bailout 
 Has Failed: 
 Greenberg 

Government should focus on reducing stake, restructuring firm, former CEO says

Apr 2, 09 12:39 PM CDT
(Newser) - AIG’s former CEO told Congress today the bailout of the insurance firm has “failed” and that the government should restructure the company, the Wall Street Journal reports. At a House committee hearing, Hank Greenberg said he blamed his successors for the firm’s implosion: "I think they... More »

MORE ABOUT:
insurance companies • insurance • AIG • Hank Greenberg • bailout • financial crisis • Wall Street bailout

Former AIG Chief Greenberg
to Testify Today

'I don't feel any responsibility,' 38-year CEO says of AIG

Apr 2, 09 8:06 AM CDT
(Newser) - Former AIG chief Maurice “Hank” Greenberg will go before a House committee on Capitol Hill today, testifying about the world-wide conglomerate that is now the most infamous culprit of the financial crisis, despite efforts by both the GOP and current AIG management to undercut his credibility. Greenberg is expected... More »

MORE ABOUT:
testimony • AIG • Hank Greenberg • bailout • financial crisis • Wall Street bailout

 Ex AIG Boss: It's Not My Fault  

Says he doesn't back retention bonuses

Mar 20, 09 8:31 AM CDT
(Newser) - AIG’s former CEO tells CBS that the bonuses now sparking national outrage would not have happened under his watch. Hank Greenberg, ousted in 2005, said he doesn’t back such retention bonuses, blamed the firm's collapse on the "stupidity" of his successors, and thinks the current CEO should... More »

MORE ABOUT:
CBS • AIG • Hank Greenberg • bonuses • bailout • Edward Liddy

OPINION

 Hill Grilled the Wrong AIG Guy 


Mar 19, 09 12:44 PM CDT
(Newser) - Edward Liddy’s much-ballyhooed testimony yesterday—Chris Matthews billed it as “Watergate Redux”—didn’t wind up accomplishing much, “aside from revealing congressional ignorance of all things financial,” Daniel Gross writes in Slate. Yes, Liddy currently runs the reviled AIG, but he wasn’t running it... More »

MORE ABOUT:
Congress • Chris Matthews • testimony • AIG • Hank Greenberg • Martin Sullivan • Edward Liddy • grandstanding

 AIG's Downfall, Part 2:
 'Almost Free Money'

Credit default swaps change the game

Dec 30, 08 2:20 PM CST
(Newser) - According to the computer models, credit default swaps almost couldn’t fail. They were the latest derivative contract in 1998, and AIG Financial Products decided to get on board, the Washington Post reports, in the second part of its series on the insurer’s self-destruction. When AIG struck its... More »

MORE ABOUT:
derivatives market • AIG • Hank Greenberg • financial crisis • credit default swap

 How AIG Destroyed Itself 
 (Part I) 

Part 1

Dec 29, 08 4:39 PM CST
(Newser) - The roots of the current financial crisis can be traced back to a series of lunches and late-night dinners between two relatively unknown junk-bond traders 20 years ago. Howard Sosin and Randy Rackson had a plan to change the way the financial world did business, provided they could find a... More »

MORE ABOUT:
derivatives market • AIG • Hank Greenberg • financial crisis • Howard Sosin • Randy Rackson

 Big Players Reel 
 in Charity Spending 

Drop-off in corporate giving leaves groups scrambling

Nov 25, 08 12:14 PM CST
(Newser) - Charities used to getting much of their money from major corporations and private foundations are feeling the economic downturn, the Wall Street Journal reports. Bill Gates’ foundation plans to give fewer grants next year, and other large donors are honoring existing pledges but refusing to make new ones. “You... More »

MORE ABOUT:
New York • Bear Stearns • Merrill Lynch • charity • Lehman Brothers • nonprofit • AIG • Hank Greenberg • Bill and Melinda Gates Foundation • Sheldon Adelson • financial crisis • David Koch

Bankrupt AIG Might Have Been Better Than Bailout

Experts say letting insurer file bankruptcy would have been a better, cheaper, plan

Nov 3, 08 6:33 AM CST
(Newser) - The government’s $143 billion bailout of AIG is looking more and more like an expensive example of good money following bad, as financial experts are concluding that bankruptcy would have been better for both the insurance giant and taxpayers, reports the Washington Post. AIG has burned through more... More »

MORE ABOUT:
AIG • Hank Greenberg • subprime crisis • bailout • financial crisis

Ex-AIG Chair Seeks Cushier Bailout Terms

Greenberg files letter with SEC asking for less 'onerous' deal

Oct 14, 08 10:54 AM CDT
(Newser) - With the Fed now injecting capital directly into Wall Street's spiraling banks, AIG's former chairman worries the company got shafted, the Wall Street Journal reports. The insurer will go under if the government doesn't change its bailout terms from a two-year, high-interest loan to 10-year nonvoting preferred stock,... More »

MORE ABOUT:
Wall Street • insurance companies • AIG • Hank Greenberg • financial crisis • Wall Street bailout

AIG Execs Took Spa Week After $85B Bailout

Former CEOs appear before skeptical House to defend spending

Oct 7, 08 3:41 PM CDT
(Newser) - After being bailed out by Washington, AIG executives engaged in some conspicuous consumption, and it’s still going on, Portfolio reports. Two former CEOs of the insurance giant testified before the House today, and lawmakers took them to task for reckless compensation and an executive retreat at a California spa... More »

MORE ABOUT:
Congress • AIG • Hank Greenberg • credit crisis • bailout • Martin Sullivan • House Committee on Oversight and Government Reform • financial crisis • Robert Willumstad

Fed Considers AIG Bailout; Ex-CEO Weighs Proxy Fight

Hank Greenberg, forced out in 2005, among investors mulling options

Sep 16, 08 3:55 PM CDT
(Newser) - Reversing course, the Fed is considering a bailout package to help boost the liquidity of suddenly beleaguered AIG, even as the mega-insurer's ex-CEO considers a move to take control through a proxy fight or buyout, Bloomberg reports. In a regulatory filing, Hank Greenberg, who retired under pressure in 2005, says... More »

MORE ABOUT:
investors • Lehman Brothers • AIG • Hank Greenberg • subprime crisis • banking industry • financial crisis

GLOSSIES

Feisty Exec Straddles Two Financial Crises

Greenberg's clout evident in AIG ouster, bailout of Lehman

Jun 17, 08 7:50 PM CDT
(Newser) - At age 83, Hank Greenberg is on anything but a quiet path to retirement. The legendary exec is smack in the middle of two of the biggest financial stories of the day—the upheaval at insurance giant AIG and the struggle to salvage Lehman Brothers. Portfolio looks at Greenberg's reversal... More »

MORE ABOUT:
finance • Lehman Brothers • AIG • Hank Greenberg • Martin Sullivan • financial crisis

Jury Convicts Ex-Insurance Execs in Fraud

Five General Re and AIG officials face
jail over scheme to deceive investors

Feb 26, 08 9:48 AM CST
(Newser) - A federal jury yesterday convicted five former insurance executives of fraud, conspiracy, and making false statements to the Securities and Exchange Commission as part of a scheme to deceive investors, Bloomberg reports. The convictions stem from a sham transaction in 2000 between General Reinsurance Corp. and American International Group that... More »

MORE ABOUT:
fraud • Warren Buffett • SEC • AIG • Hank Greenberg • Berkshire Hathaway • General Re Corp • General Reinsurance • American International Group

Goldman Hedge Fund Gets
$3B Infusion

Investors fund bailout after assets evaporate; markets breathe

Aug 13, 07 11:38 AM CDT
(Newser) - A struggling Goldman Sachs hedge fund will get a $3 billion cash infusion, with a third of the bail-out coming from wealthy investors and the rest from the bank itself. Global Equity Opportunities Fund has seen assets drop by 28%, to $3.6 billion, over the last two weeks, as... More »

MORE ABOUT:
Eli Broad • Goldman Sachs • subprime mortgages • hedge fund • Hank Greenberg • financial crisis

18 Stories


from our news partners