As more details emerge as to bonuses paid by bail-out insurance giant aig, the nation's outrage is growing according to figures released by new york attorney general andrew cuomo, no less than. The democrats' half-hearted attempt to recover some of the aig executive bonuses a year or more from now is receiving the bulk of the attention on capitol hill today, but democrats are quietly trying to sneak through a second measure intended to absolve themselves of their guilt in the aig executive bonuses fiasco. The implicit question posed by greenberg's suit, and one of the great historical questions that looms over the aig fiasco, is whether things would have turned out differently with greenberg at the. Tomorrow, tim geithner will appear before the house oversight committee to answer for the actions of the new york fed when it bailed out aig in 2008. Teaching note: case 37 - american international group and the bonus fiasco case objectives 1 to help students understand how the ethical orientation of leadership is a key factor in promoting ethical behavior.
As a founding member of aig's financial-products unit, cassano, who ran the group until he stepped down in early 2008, knew them quite well in good times, aig's massive cds-issuance business minted money for the insurer's other companies. Fortune the aig fiasco keeps getting worse by colin barr, senior writer january 7, 2010: 5:02 pm et new york (fortune) -- the aig bailout isn't going away, much as treasury secretary tim geithner might like it to. The furor over $165 million in bonus payments to 400 people in aig's rogue financial products group threatens aig ceo edward liddy, secretary treasury timothy geithner and the administration's. If the rule of driving money to the strong banks' (see view from the top: a prime solution to the us banking crisis) safety and soundness is to be effective, it must be applied to all and now.
As i watch the aig circus unfold, i don't whether to laugh or cry first, the people running these banks must be tone-deaf not to recognize that once you appeal for government bailouts (and get them), the rules have changed. Class action aig as a general rule, class action lawsuits involve a band of people in some capacity: a collective class, formed together over the issue of a misrepresented product, suing a defendant, or a group of defendants, multiple negligent companies, for instance, being sued by an individual. New york, jan 11 (reuters) - it could take until november 2018 to get the full story behind the us bailout of insurance giant american international group (aign) because of an action taken last. Lawmakers today expressed concern that another aig bonus fiasco could soon unfold without increased oversight of executive pay by the treasury department and secretary geithner.
Aig case study 2 abstract on february 28, 2008, the american international group, inc (aig), which was the largest insurance company in the united states, announced that there 2007 profits were about $620 billion which would equal to $239 per share. New york (fortune) -- the aig bailout isn't going away, much as treasury secretary tim geithner might like it to the $180 billion fiasco was back in the news thursday, after bloomberg reported. In 1967, the american international group, inc was formed 1968 - starr officially named hank maurice greenburg his successor during the 1970's, aig introduced new energy, transportation, and entertainment products and, in the 1980's, it expanded its business lines to include mortgage insurance and listed its shares on the new york stock.
Us president barack obama told talk show host jay leno thursday he was stunned to hear of bonuses given to aig employees, and he vouched for embattled treasury secretary timothy geithner, saying. This whole aig fiasco — where the entire political class is suddenly screaming over bonuses paid to derivative traders in aig's financial-products division — is just a complete farce. What barack obama needs to know about tim geithner, the aig fiasco and citigroup , the institutional risk analyst, 24 november 2008 it's worth reading in full it's worth reading in full. This whole aig fiasco -- where the entire political class is suddenly screaming over bonuses paid to derivative traders in aig's financial-products division -- is just a complete farce.
Aig's price-to-book is remarkably low, but this does not imply aig being undervalued an excess returns model, which employs book value, puts aig at fairly priced as a double-dividend stock. Aig: a timeline to the end of the sec probe thursday, june 17, 2010 june 10, 2010: a congressional watchdog criticized nearly every move the fed has made during the aig fiasco the. Fidel fiasco on aiguille de blatière west face august 30, 2009 aig de blatiere is clearly visible from chamonix town, and when its steep west face is bathing in the afternoon sun it is easy to feel strong and ready for a battle with the grey pillar. By edward liddy, ceo of american international group (aig) the government rescue of american international group (aig) and other financial firms has produced a palpable wave of anger on the part of americans and a rising public demand for accountability from corporate and government leaders.
Reddit gives you the best of the internet in one place get a constantly updating feed of breaking news, fun stories, pics, memes, and videos just for you passionate about something niche. Aig and the bonus fiasco scott blecman, r neil covington, hayley wiessner aig swot porters five forces threat of new entrants--low-moderate the bargaining power of buyers -- moderate the bargaining power of suppliers--low-moderate threats weaknesses opportunities strengths what is aig. This whole aig fiasco—where the entire political class is suddenly screaming over bonuses paid to derivative traders in aig's financial-products division —is just a complete farce. Topics: federal government of the united states, american international group, corporation pages: 2 (387 words) published: march 29, 2011 american international group and the bonus fiasco on september 16, 2008 aig suffered a liquidity crisis following the downgrade of its credit rating.