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AIG News

AIG holding BofA $8.5 billion settlement 'hostage,' investors say

American International Group <AIG.N> is holding "hostage" an $8.5 billion deal to compensate investors who bought Bank of America Corp <BAC.N> mortgage securities, supporters of the deal s...

AIG raises dividend as it swings to profit, plans job cuts

Insurer American International Group Inc <AIG.N> on Thursday raised its quarterly dividend by 25 percent and reported it swung to a profit in the fourth quarter, compared with a year-earlier loss, sending its shares up in after-market...

Op-Ed: Subcommittee hearing on Goldman Sachs

Washington - The investigation by the Permanent Subcommittee on Investigations into Goldman Sachs' practices leading into the recession are just another politcal ploy by politicians to gain momentum during an election year.

Report: Taxpayers Foot Bill For Wall Street's Offshore Deals

Goldman Sachs invested in risky offshore deals in the Cayman Islands backed by sub-prime mortgages done in secret, at taxpayers' expense.

Op-Ed: Wangling AIG To Precipice Proved Profitable for Goldman Sachs

An NYT investigative report offers more insight into the predatory practices of Goldman Sachs, their role in pushing AIG to brink of bankruptcy, and more evidence suggesting the financial bailout was fraudulent and illegal

AIG Debt with Federal Reserve Bank of New York Cut by $25 Billion

The amount of money owed by American International Group (AIG) to the Federal Reserve Bank of New York has been reduced by $25 billion after a deal which involves the bank receiving shares in two of AIG's subsidiaries.

AIG support staff got 'retention bonuses,' $7k to kitchen worker

A report to be released today indicates that a kitchen worker and file administrator received 'retention bonuses' awarded by AIG. This undercuts AIG's claims that bail out money was needed to keep "key" employees able to "unwind the derivatives trades."

Former A.I.G Chief Pays $15 Million to Settle with S.E.C

Following a 4-year investigation by the the U.S. Securities and Exchange Commission (S.E.C), the man who ran American International Group (A.I.G) for almost 4 decades has agreed to pay $15 million to settle a suit relating to financial irregularities.

General Motors Going Overseas and Taking Heat

GM has received billions from the federal government in the form of bailout money. Now the giant corporation is taking heat over a new plan that proposes more manufacturing overseas.

Op-Ed: Diversions and Disillusions reign as AIG saga unfolds

While the entire county focuses on the AIG bonus controversy and Congress wastes time pointing partisan fingers, the real issues surrounding the economic meltdown are being ignored.

Anger At AIG Transfers Over Towards Homes of The Executives

The controversy of AIG executives and their hefty nine-figure bonuses continue. This time, protesters are demonstrating in front of the homes of the AIG executives.

Op-Ed: Time For Real Remedies to Control Corporate Excess

Over the past week public anger over the bonuses received by executives at American International Group has resembled the villagers storming Frankenstein’s castle with torches ablaze. If there is a poster child for corporate excess, A.I.G. is it.

US House Approves To Slap AIG Bonuses With 90% Tax

House Democrats have taken action against the AIG bonuses. A bill was approved to slap AIG employees making over $250K with a ninety-percent tax. This also extends to other companies that receive at least $5 billion in bailout funds.

US Senator tells AIG execs to 'commit suicide'

After the reported $165 million in bonuses AIG is giving to their employees, some of which are responsible for the current crisis, the public backlash has been very outspoken - including one US senator, who had some choice words for the executives.

AIG Bonuses Draw Fire on Hill

AIG was one of the first financial firms to cry “broke” and pony up to the federal government for a rescue. At the time the rationale for federal aid was the company’s failure would cause a ripple in the economy and cause a larger meltdown.

Op-Ed: AIG: An Assessment on the Ground of Desperate Measures

I remember AIG, too well in fact. I worked with their workers compensation division. I wasn't an employee but a counselor whose fees were paid by the wonders of insurance. What I found was disturbing enough to believe what we've learned about bonuses.

Despite Anger and Backlash, AIG 'Justifies' Bonuses

In regards to the hefty bailout of the banks and Wall Street, AIG remains defiant as it tries to justify the hefty payout in bonuses. It has brought anger from the government as a result of this.

Op-Ed: AIG to pay $165 million in bonuses after $170 billion bailout

One of America’s leading corporate basket cases, AIG Insurance, has defended its intended payment of bonuses to its executives, citing contractual obligations. The Obama administration is said to be furious, and to have demanded a reduction.

AIG posts biggest loss in U.S corporate history

Insurance giant AIG posted an historic loss of $61.7 billion for the fourth quarter of 2008. The loss is the largest ever to be reported by a U.S. company.

Ailing AIG Gets a Another Shot of Vaccinating Equity Courtesy of You.

After failing miserably at attempting to start paying off the original bailout loan, AIG is insisting that the government restructure their loan.

Bankrupt AIG spends thousands of dollars on executives hunting trip

Four executives from Insurance major AIG have spent $86,000 on a hunting trip to England last week, even as the company received $ 122.5 billion as part of a bailout plan.

The Crash of 2008: How Wall Street Lost Its Groove

Wall Street gyrations have got investors worried. And as stocks drop, credit has tightened, making it more difficult for businesses to operate.

Op-Ed: Maybe I Am A Little Bitter Here, Time For A Spa Week

The AIG bigwigs have their nice little bailout package wrapped up and tied with a pretty little taxpayer ribbon so what do they decide to do? Why vacation of course, it's been a tough time of it lately.

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