Top Risk Officers Remain at AIG
March 27, 2009 by Joseph McCafferty
The same group that oversaw some of American International Group’s biggest bets, including its failed credit-swap ventures, remains largely unchanged.
March 27, 2009 by Joseph McCafferty
The same group that oversaw some of American International Group’s biggest bets, including its failed credit-swap ventures, remains largely unchanged.
Goldman Aims for Quick TARP Repayment
March 25, 2009 by Joseph McCafferty
Holding company nee investment bank Goldman Sachs is looking to repay its government debt sooner rather than later, and in doing so may push its peers to follow a similar path.
March 25, 2009 by Joseph McCafferty
Holding company nee investment bank Goldman Sachs is looking to repay its government debt sooner rather than later, and in doing so may push its peers to follow a similar path.
AIG Bonus Recipients to Pay Back $50M
March 24, 2009 by Joseph McCafferty
The New York State attorney general, Andrew M. Cuomo, said yesterday that he had persuaded nine of the top 10 bonus recipients at the American International Group to give the money back, as the Senate plans to tax the bonuses.
March 24, 2009 by Joseph McCafferty
The New York State attorney general, Andrew M. Cuomo, said yesterday that he had persuaded nine of the top 10 bonus recipients at the American International Group to give the money back, as the Senate plans to tax the bonuses.
AIG Suit Against Fed Draws New Fire
March 20, 2009 by Joseph McCafferty
American International Group, under fire for corporate pay excesses, is fighting the federal government’s $306 million tax on executive bonuses, presumably using taxpayer money.
March 20, 2009 by Joseph McCafferty
American International Group, under fire for corporate pay excesses, is fighting the federal government’s $306 million tax on executive bonuses, presumably using taxpayer money.
Treasury Looks to Recoup AIG Bonus Money
March 18, 2009 by Joseph McCafferty
A frustrated Timothy Geithner is looking to deny AIG $165 million worth of bonuses paid out to employees working in the company’s financial products division
March 18, 2009 by Joseph McCafferty
A frustrated Timothy Geithner is looking to deny AIG $165 million worth of bonuses paid out to employees working in the company’s financial products division
AIG Warned of “Catastrophic Collapse”
March 9, 2009 by Joseph McCafferty
American International Group had warned of turmoil around the globe if the government allowed the insurer to fail when it appealed to U.S. regulators for its latest rescue.
March 9, 2009 by Joseph McCafferty
American International Group had warned of turmoil around the globe if the government allowed the insurer to fail when it appealed to U.S. regulators for its latest rescue.
AIG Chief Takes Shot at Predecessor
March 3, 2009 by Joseph McCafferty
The current chief executive at AIG has blamed the company’s losses on the actions of his forebear, accusing the former exec of creating a doomed financial products unit within the insurer.
March 3, 2009 by Joseph McCafferty
The current chief executive at AIG has blamed the company’s losses on the actions of his forebear, accusing the former exec of creating a doomed financial products unit within the insurer.
US Extends AIG Bailout by Up to $30M
March 2, 2009 by Joseph McCafferty
The federal government is boosting its investment in embattled insurer American International Group, providing the company with an additional $30 billion in capital on an as needed basis, but also exposing U.S. taxpayers to additional risk.
March 2, 2009 by Joseph McCafferty
The federal government is boosting its investment in embattled insurer American International Group, providing the company with an additional $30 billion in capital on an as needed basis, but also exposing U.S. taxpayers to additional risk.
Protecting Against Employee Suits
February 1, 2009
Directorship recently assembled a panel of corporate directors and experts to discuss these and other litigation risks.
February 1, 2009
Directorship recently assembled a panel of corporate directors and experts to discuss these and other litigation risks.
AIG Investment Chief Stepping Down
January 20, 2009 by Joseph McCafferty
American International Group Chief Investment Officer Win Neuger will step down from his post and focus on a more concentrated role at the company.
January 20, 2009 by Joseph McCafferty
American International Group Chief Investment Officer Win Neuger will step down from his post and focus on a more concentrated role at the company.
Ex-AIG CEO Gives Up Stock
December 31, 2008 by Joseph McCafferty
Former AIG chief executive Robert Willumstad will forego stock awards he was granted as part of his agreement to step into the insurer's top post last June.
December 31, 2008 by Joseph McCafferty
Former AIG chief executive Robert Willumstad will forego stock awards he was granted as part of his agreement to step into the insurer's top post last June.
Liddy Defends Retention Bonuses
December 22, 2008 by Joseph McCafferty
American International Group CEO Edward Liddy, in defending retention bonuses, says it’s the only way to keep good people and that he would like to pay back the government in 2009.
December 22, 2008 by Joseph McCafferty
American International Group CEO Edward Liddy, in defending retention bonuses, says it’s the only way to keep good people and that he would like to pay back the government in 2009.
Former CEO Gets Two Years in Fraud Case
December 17, 2008 by Joseph McCafferty
The former chief executive of General Re was sentenced yesterday to a two-year prison term and levied a $200,000 fine for participating in a stock-inflation scheme with AIG six years ago.
December 17, 2008 by Joseph McCafferty
The former chief executive of General Re was sentenced yesterday to a two-year prison term and levied a $200,000 fine for participating in a stock-inflation scheme with AIG six years ago.
Ed Liddy’s Annual Paycheck? One Dollar
December 2, 2008 by Joseph McCafferty
American International Group CEO Edward Liddy, who is handling the resurrection of the banking giant, will receive $1 in compensation this year and next.
December 2, 2008 by Joseph McCafferty
American International Group CEO Edward Liddy, who is handling the resurrection of the banking giant, will receive $1 in compensation this year and next.
Cuomo Threatens AIG Over Bonuses
November 19, 2008 by Joseph McCafferty
Andrew Cuomo extended a harsh warning to the executives of AIG yesterday, threatening legal action if the ailing insurer goes ahead with executive bonuses this year after having taken $123 billion of the government’s money in efforts to revive itself.
November 19, 2008 by Joseph McCafferty
Andrew Cuomo extended a harsh warning to the executives of AIG yesterday, threatening legal action if the ailing insurer goes ahead with executive bonuses this year after having taken $123 billion of the government’s money in efforts to revive itself.
AIG Plows Through Loan, Gets More Cash
October 24, 2008 by Joseph McCafferty
American International Group had borrowed $90.3 billion from the U.S. government as of Wednesday, an indicator that its need for cash has expanded. The new total is $7.4 billion, nearly nine percent more than AIG had tapped a week earlier.
October 24, 2008 by Joseph McCafferty
American International Group had borrowed $90.3 billion from the U.S. government as of Wednesday, an indicator that its need for cash has expanded. The new total is $7.4 billion, nearly nine percent more than AIG had tapped a week earlier.
Cuomo Looks to Recover AIG Bonuses
October 16, 2008 by Joseph McCafferty
American International Group (AIG) had a party but the taxpayer gets the hangover, according to New York attorney general Andrew Cuomo, who is demanding the government-supported insurance firm forfeit all bonuses and other expenditures granted to its executive officers in recent months.
October 16, 2008 by Joseph McCafferty
American International Group (AIG) had a party but the taxpayer gets the hangover, according to New York attorney general Andrew Cuomo, who is demanding the government-supported insurance firm forfeit all bonuses and other expenditures granted to its executive officers in recent months.
Economic Outlook: the Trade Deficit
October 14, 2008 by Peter Morici
The trade deficit soars because of high prices for imported crude oil and refined products, subsidized imports from China, and the continuing woes of the Detroit automakers. At nearly five percent of GDP, those pose a significant drag on the economy and combine to destroy millions of high paying U.S. jobs.
October 14, 2008 by Peter Morici
The trade deficit soars because of high prices for imported crude oil and refined products, subsidized imports from China, and the continuing woes of the Detroit automakers. At nearly five percent of GDP, those pose a significant drag on the economy and combine to destroy millions of high paying U.S. jobs.
Zurich Financial Hires Ex-AIG Exec
October 8, 2008 by Joseph McCafferty
Zurich Financial Services hired former American International Group executive, Philip Wilson, to oversee global life-insurance underwriting for the Swiss insurer.
October 8, 2008 by Joseph McCafferty
Zurich Financial Services hired former American International Group executive, Philip Wilson, to oversee global life-insurance underwriting for the Swiss insurer.
An Embattled Fuld Gets Battered
October 7, 2008 by Joseph McCafferty
While saying he felt "horrible" for the bankruptcy of Lehman Brothers, Chief Executive Richard Fuld in painstaking testimony on Capitol Hill yesterday faulted short sellers for the downfall of the once venerable investment bank. Today, former AIG executives are expected to appear before the House Oversight and Government Reform Committee.
October 7, 2008 by Joseph McCafferty
While saying he felt "horrible" for the bankruptcy of Lehman Brothers, Chief Executive Richard Fuld in painstaking testimony on Capitol Hill yesterday faulted short sellers for the downfall of the once venerable investment bank. Today, former AIG executives are expected to appear before the House Oversight and Government Reform Committee.