One of Wall Street’s biggest beneficiaries of a U.S. taxpayer bailout at the height of the country’s 2008 economic downturn says it will not take part in a lawsuit against the government that claimed terms of the rescue were too tough. The board of giant insurer American International Group decided Wednesday against joining a $25 […]
Wall Street Bailout Beneficiary Rejects Suit Against Its Rescuer: US Taxpayers
Posted January 9th, 2013 at 3:40 pm (UTC-5)
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Wall Street Bailout Beneficiary Weighing Suit Against Its Rescuer: US Taxpayers
Posted January 9th, 2013 at 2:20 pm (UTC-5)
One of Wall Street’s biggest beneficiaries of a U.S. taxpayer bailout at the height of the country’s 2008 economic downturn is now weighing whether to sue the government on grounds that terms of the rescue were too onerous. Lawmakers in Washington have reacted angrily at the prospect that the giant insurer American International Group might […]
US Turning Big Profit on Controversial AIG Rescue
Posted December 11th, 2012 at 10:55 am (UTC-5)
The U.S. is ending up with a sizeable profit on its controversial bailout of one of the world’s largest insurers during the worst days of the global economic downturn. The Treasury Department said it is selling 234 million shares in American International Group (AIG) on Tuesday at a profit of $7.6 billion, bringing its overall […]
AIG Sues Bank of America
Posted August 8th, 2011 at 6:05 pm (UTC-5)
Insurance conglomerate AIG has sued Bank of America for more than $10 billion, saying the bank cheated it by selling residential mortgage-backed securities that were overvalued. The formerly debt-ridden insurer filed suit in New York Monday, accusing the bank of “massive” fraud in its handling of the mortgage-backed securities that triggered the 2008 financial crisis. […]
