American International Group
Insurance Company
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Bears Sitting Out The Rally...Paybacks Analyst Ed Najarian on Washington's reluctance to recoup bank bailout money. Eli Broad on AIG The Treasury and Fed should have rehabbed AIG. The Anti-Greenspan FusionIQ's Barry Ritholtz on interest rates, risk, and why... In this article: AIG, T. Boone Pickens, Washington, Recession, and Motley Fool |
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Reuters | 1 day ago
Nearly half of Americans rate Geithner performance poor
Nearly half of Americans rate Geithner performance "poor" Adding to lawmaker criticism of U.S. Treasury Secretary Timothy Geithner's performance is a new survey released on Friday showing 42 percent of Americans say he has done a "poor job"...
In this article: Timothy Geithner, Joint Economic Committee, Kevin Brady, and Peter DeFazio
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UPDATE 2-AIG board meets Tues, no plan on CEO -source
...rather focus on improving ops -source (Adds background) By Paritosh Bansal and Lilla Zuill An American International Group Inc's <AIG.N> board meeting is expected next week against the backdrop of Chief Executive Robert Benmosche's...
In this article: AIG, MetLife Inc, Andrew Cuomo, New York Stock Exchange, and U.S.
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AIG board meets Tues, no plan on CEO: source
...companies that received multiple bailouts and is setting guidelines for pay for the next 75. For AIG in particular, Feinberg has vowed to limit bonuses at the company's financial products unit, whose massive payouts earlier this year sparked...
In this article: AIG, MetLife Inc, Andrew Cuomo, and New York Stock Exchange
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AP Online | 3 days ago
Lawmakers seek Fed audit after critical AIG report
...than necessary to banks including Goldman Sachs Group Inc. and Merrill Lynch, now part of Bank of America Corp., to cancel AIG's contracts with them. Treasury Secretary Timothy Geithner, then president of the New York Fed, signed off on...
In this article: AIG, The Fed, Treasury Department, House Financial Services Committee, Timothy Geithner, Merrill Lynch, Goldman Sachs Group Inc., and Bank of America Corp.
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washingtonpost.com | 3 days ago
Goldman was exposed to AIG losses: government report
...backing as a result of the bailout, the additional risks of declining market values in the event of an AIG default are a moot point." AIG has received pledges of up to $180 billion in taxpayer aid since last fall to help save it from...
In this article: AIG, Goldman Sachs, Troubled Asset Relief Program, and U.S. Treasury
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Goldman was exposed to AIG losses - govt report
...made it difficult for Goldman Sachs to collect on the credit protection it had purchased against an AIG default." Finally, the report said, an AIG default would have forced Goldman Sachs to bear the risk of declines in the value of...
In this article: AIG, Goldman Sachs Group Inc, Troubled Asset Relief Program, U.S. Treasury, and Wall Street
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Watchdog: Gov't may have overpaid to bail out AIG
...partners should have been forced to take less than 100 percent of the value of their contracts with AIG. They note that the protection AIG offered - in the form of complex products called credit-default swaps - was unregulated and that...
In this article: AIG, Timothy Geithner, The Fed, Treasury Department, Goldman Sachs Group Inc., Calyon, and Societe Generale
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Description from Wikipedia:
American International Group, Inc. (AIG) (NYSE: AIG), is an American insurance corporation. Its corporate headquarters are located in the American International Building in New York City, but will relocate to San Antonio. The British headquarters office is on Fenchurch Street in London; continental Europe operations are based in La Défense, Paris, and its Asian headquarters office is in Hong Kong. According to the 2008 Forbes Global 2000 list, AIG was once the 18th-largest public company in the world. It was listed on the Dow Jones Industrial Average from April 8, 2004 to September 22, 2008.
AIG suffered from a liquidity crisis when its credit ratings were downgraded below "AA" levels in September 2008. The United States Federal Reserve Bank on September 16, 2008, created an $85 billion credit facility to enable the company to meet increased collateral obligations consequent to the credit rating downgrade, in exchange for the issuance of a stock warrant to the Federal Reserve Bank for 79.9% of the equity of AIG. The U.S. government revised the credit facility, and eventually increased the total amount available to as much as $182.5 billion.
AIG subsequently sold a number of its subsidiaries and other assets to pay down loans received, and continues to seek buyers of its assets. In March 2009, AIG faced public outrage and media and political backlash for its retention payments of $165 million. AIG employees faced hate mail and death threats, and multiple websites had sprung up attacking AIG.
- Name:
- American International Group, Inc.
- Type:
- Public (NYSE: AIG)
- Location:
- New York City, New York, U.S.
- Region:
- Worldwide
- Founder:
- Cornelius Vander Starr
- Founded:
- 1919 in Shanghai, China
- Stock Symbol:
- AIG
- Industry:
- Insurance, financial services
- Key People:
- Harvey Golub, Robert Benmosche, David L. Herzog
- Products:
- Insurance annuities, mutual funds
- Revenue:
- US$ 110.064 billion
- Operating Income:
- US$ −106.761 billion
- Net Income:
- US$ −99.289 billion
- Assets:
- US$ 860.418 billion
- Equity:
- US$ 52.710 billion
- No. of Employees:
- 116,000
- Market Cap:
- US$ 941.76 million
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