American International Group News on Daylife

New York Fed's Secret Choice to Pay Banks 100% for AIG Swaps Hit Taxpayers

Tue, 27 Oct 2009 12:33:09 GMT

Oct. 27 (Bloomberg) -- In the months leading up to the September 2008 collapse of giant insurer American International Group Inc. , Elias Habayeb and his colleagues worked nights and weekends negotiating with banks that had bought $62 billion of credit-...
Source: Bloomberg.com

Wall Street Reacts With Skepticism, Anger, as U.S. Cracks Down on Pay

Fri, 23 Oct 2009 04:01:01 GMT

Oct. 23 (Bloomberg) -- The Obama administration’s moves to rein in executive pay sparked criticism on Wall Street, as lenders such as Bank of America Corp. said the measures may hurt the very companies the U.S. is intent on saving.
Source: Bloomberg.com

AIG Judge Recuses Self From Duke Lacrosse-Stripper Suit, Citing Conflict

Wed, 21 Oct 2009 12:49:59 GMT

Oct. 21 (Bloomberg) -- A U.S. federal judge stepped down from Duke University’s lawsuit against American International Group Inc. over legal costs from a court battle with lacrosse team members falsely accused of sexually assaulting a stripper.
Source: Bloomberg.com

$7,700-bonus for AIG kitchen assistant!

Wed, 14 Oct 2009 19:48:29 GMT

American International Group shelled out retention bonuses to hundreds of employees at its financial products division, including a kitchen assistant, who received $7,700, says a media report.
Source: Economic Times

Business coalition opposes proposed derivatives curbs

Thu, 08 Oct 2009 02:45:21 GMT

an unregulated global market and blamed by regulators for hastening the financial crisis. WASHINGTON — Federal regulators on Wednesday asked a House panel to strengthen proposed legislation that would impose new oversight on derivatives.
Source: TwinCities.com

Why We Need Derivatives Regulation

Wed, 07 Oct 2009 20:30:07 GMT

What caused the 2008 credit crisis? Loose monetary policy surely played a part. So did compensation plans that encouraged executives to take huge risks in the quest for short-term profits.
Source: Dealbook

Regulators seek tighter oversight of derivatives

Wed, 07 Oct 2009 15:39:39 GMT

WASHINGTON -- As two federal regulators asked a House panel to tighten proposed legislation imposing new oversight on derivatives, Republican lawmakers contended the measure already could eliminate jobs and stifle companies' ability to manage risks.
Source: The Washington Post

Corporate pay

Wed, 07 Oct 2009 11:58:25 GMT

The federal bailout of corporate America has opened board-room doors to increasing government intervention. Using the aid as leverage, Washington is subjecting the compensation of hundreds of executives to review by federal pay czar Kenneth Feinberg.
Source: Watertown Daily Times

Quoted in ''Fast Money' Portfolios of the Week'

Thu, 24 Sep 2009 17:24:56 GMT

said in The Street:

I'm seeing a lot of options activity in General Electric(GE Quote). I'm also seeing it in American International Group(AIG Quote).

Quoted in 'Why is there a Federal Reserve Bank of Philadelphia?'

Mon, 21 Sep 2009 18:53:39 GMT

said in Philly.com:

have also called for a review of the Fed’s power and structure, saying Fed Chairman Ben S. Bernanke overstepped his authority as he bailed out creditors of Bear Stearns Cos. and American International Group Inc. while battling a crisis that led to $1.62 trillion in writedowns and losses at financial firms.

Photo from Reuters Pictures

Tue, 01 Sep 2009 14:54:09 GMT

The new CEO of American International Group Inc (AIG) Robert Benmosche speaks during an interview with Reuters in the garden of his massive Adriatic sea-front villa in Dubrovnik, Croatia, August 26, 2009.

Photo from Reuters Pictures

Tue, 01 Sep 2009 14:53:28 GMT

The new CEO of American International Group Inc (AIG) Robert Benmosche stands in the garden of his massive Adriatic sea-front villa after an interview with Reuters in Dubrovnik, Croatia, August 26, 2009.

American International Group. AIG Fights For Survival. (part 1)

Tue, 16 Sep 2008 09:48:07 GMT