Timothy Geithner denied any role in disclosures about American International Group`s payments to banks and defended his decisions as New York Federal Reserve chief to pay full price to retire AIG credit default swaps.
Federal Reserve Chairman Ben Bernanke took the unusual step on Tuesday of asking Congress` investigative arm to conduct a "full review" of the Fed`s role in bailing out insurance giant American International Group (AIG).
American International Group (AIG) has asked Thomas Russo, the former in-house lawyer of bankrupt financial services firm Lehman Brothers Holdings, to become the insurance giant’s next general counsel, a media report said.
Bailed-out US insurer American International Group (AIG.N) plans to file a prospectus for a multibillion-dollar IPO of its Asian life insurance unit before Christmas, the Financial Times reported on Thursday.
Five senior executives at American International Group (AIG.N) told the insurer last week they may quit if their compensation was cut significantly by the US pay czar, the Wall Street Journal reported on Sunday.
AIG, the insurer that received billions of dollars in a US bailout, has been authorized by its board to pay Chief Executive Robert Benmosche`s $7 million compensation, after it laid to rest concerns that he may quit the post.
AIG, the insurer that received a huge government bail out, said on Friday it is paying USD 12.1 million in retention awards to some top executives after US pay czar Kenneth Feinberg gave it the green light.
Congress will soon probe executive compensation at companies such as AIG.N and Bank of America (BAC.N) Corp receiving significant taxpayer funds, the chairman of the House Oversight and Government Reform panel has said.
The pitched drama over bonuses for bailed-out executives will be revived on Capitol Hill Wednesday as a government watchdog explains how some executives nearly brought down the financial system — then pocketed millions.
Insurer American International Group Inc said late on Monday that it has agreed to sell its nearly 98 percent stake in Taiwan unit Nan Shan to an investor group led by Hong Kong`s Primus Financial for about USD 2.15 billion.
American International Group Inc, the insurer that received billions of dollars in a US bailout, said on Monday that it will pay newly-appointed Chief Executive Robert Benmosche an annual salary of USD 7 million.