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American International Group

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American International Group News

News on American International Group continually updated from thousands of sources around the net.

7 hrs ago | Los Angeles Times

Proposal to allow breakup of huge banks gains momentum

Reporting from Washington - Momentum is growing in the U.S. and abroad to deal with the problem of gigantic financial institutions deemed too big to fail by breaking them up before they can threaten the economy.

Comment?

Related Topix: Insurance, US News, US House of Representatives, Democrat, Paul Kanjorski, US Politics

15 hrs ago | OpenSecrets.org

Insurers Seek Cover From New Federal Regulations

Total to Current Members of Congress since 1989: $110.5 million Total Lobbying Expenditures since 1998 : $1.3 billion Risk and uncertainty are as certain as death and taxes.

Comment?

Related Topix: US News, Insurance, Home, Mortgage, Personal Finance, US Politics, Gwen Moore, US House of Representatives, Democrat

Mon Nov 23, 2009

Reuters

Dimon seen as successor to Geithner: report

Several U.S. policy makers consider JPMorgan Chase & Co Chief Executive Jamie Dimon as a potential successor to U.S. Treasury Secretary Timothy Geithner, the New York Post said, citing sources.

Comment?

Related Topix: Insurance

Bloomberg

Potential Dodd Senate Challenger Calls for Geithner Resignation Over AIG

Former Republican congressman Rob Simmons , seeking a U.S. Senate seat from Connecticut, called on Treasury Secretary Timothy Geithner to resign over his role in the bailout of insurer American International Group Inc .

Comment?

Related Topix: US Politics, Rob Simmons, US News, Republican, US House of Representatives, Insurance, 2008 Presidential Election, Christopher Dodd, Banking, Financial Services

LA Daily News

374 victims of Sayre Fire receive insurance settlements twice value...

Money can't replace charred photo albums and other personal treasures, but several hundred homeowners whose houses burned to the ground in last year's Sayre Fire have pulled an unexpected windfall from the ashes of tragedy.

11 comments

Related Topix: Insurance

Sun Nov 22, 2009

Washington Times

BUTLER: New bankruptcy policy can avoid mass bailouts

Maybe we can breathe a collective sigh of relief -- now that we've dodged the bullet of a catastrophic collapse of America's entire financial system.

Comment?

Related Topix: Economics News, Bankruptcy, Home, Mortgage, Personal Finance, Insurance

Reuters Video

Geithner defends AIG bailout

No 19 - U.S. Treasury Secretary Timothy Geithner defended the costly bailout of AIG and urged swift regulatory reform to safeguard the economy from the failure of big financial firms.

Comment?

Related Topix: Insurance, Video

MyBankTracker

a Too Big To Faila Firms May Be Broken Down To Smaller Size

A proposal by Rep. Paul E. Kanjorski was voted for 38 to 29 in legislation on Wednesday.

Comment?

Related Topix: Paul Kanjorski, US Politics, US News, US House of Representatives, Democrat, Insurance, Republican, Randy Neugebauer

Sat Nov 21, 2009

Bloomberg.com

Sun Life's Boscia Calls `Fragmented' U.S. Market Attractive for Expansion

Sun Life Financial Inc. President Jon Boscia said the U.S. insurance market is a oefragmented,a allowing Canadaa s third-largest insurer to expand there.

Comment?

Related Topix: Sun Life Financial, Insurance, MetLife, Prudential, Financial Services, Lincoln National

News Max

Pressure Mounts for Geithner to Resign

Treasury Secretary Timothy F. Geithner is making few new friends in Congress these days, as a growing litany of bipartisan critics are questioning whether he should keep his job.

Comment?

Related Topix: US News, US Politics, Kevin Brady, Republican, US House of Representatives, Michael Burgess, Insurance, Banking, Financial Services, Peter DeFazio, Democrat

Houston Chronicle

Paul Krugman: Botched bailouts undercut credibility of government

Earlier this week, the inspector-general for the Troubled Asset Relief Program, aka the bank bailout fund, released his report on the 2008 rescue of the American International Group, the insurer.

Comment?

Related Topix: Insurance, Opinion

Fri Nov 20, 2009

Bloomberg

Fed's Shield Against Interest-Rate Audits Takes Blow as Paul Bill Advances

The Federal Reservea s shield from congressional audits of interest-rate decisions took a blow from lawmakers who want to open the central banka s books to greater congressional scrutiny.

Comment?

Related Topix: US Politics, US News, 2008 Presidential Election, Ron Paul, Republican, US House of Representatives, Insurance, Banking, Financial Services, Citigroup

Penticton Herald

Senate panel will take up Bernankea s nomination to second Fed term on December 3

U.S. Federal Reserve chairman Ben Bernanke's nomination to a second term will be the subject of a Senate Banking Committee hearing next month, the panel's chairman said Friday.

Comment?

Related Topix: Ben Bernanke, Insurance

BNET

Geithner: Guilty Until Proven Innocent in AIG Debacle

By Ed Leefeldt It was damn good theater. The Republican members of Congress 's Joint Finance Committee had U.S. Treasury Secretary Tim Geithner on the carpet and were trying to pull the rug out from under him.

Comment?

Related Topix: US Politics, US News, Kevin Brady, Republican, US House of Representatives, Insurance, George Bush, W.

Augusta Chronicle

J.C. Penney plans to end twice-yearly catalogs

J.C. Penney will stop publishing its twice-yearly "big book" catalogs, now that customers increasingly shop online.

Comment?

Related Topix: JC Penney, Retail, US News, Insurance, US Politics, Elijah Cummings, US House of Representatives, Democrat

Thu Nov 19, 2009

Bloomberg

AIG `Backdoor Bailout' House Hearing Demanded by Republicans Blunt, Bachus

Republican lawmakers demanded a Congressional hearing to review whether the Federal Reserve Bank of New York was unprepared to deal with the bailout of American International Group Inc.

Comment?

Related Topix: US News, US Politics, Roy Blunt, Republican, US House of Representatives, Spencer Bachus, Banking, Financial Services, Bank of New York, Insurance

Reuters

China, Taiwan politics clog AIG's Nan Shan deal

Taiwan is raising concerns that the buyers of AIG's Nan Shan Life insurance unit, China Strategic and Primus Financial, are backed by China-sourced funds, complicating the approval process behind the $2.15 billion deal, an official said on Thursday.

Comment?

Related Topix: Insurance, Ma Ying-jeou

Wall Street Folly

Apologies for their credit crisis role and millions to assist small...

Goldman Sachs apologised for its role in the financial crisis on Tuesday and pledged $500m over five years - " or about 2.3 per cent of its estimated bonus and salary pool for 2009 - " to help 10,000 US small businesses recover from the recession.. Lloyd Blankfein, Goldman's chief executive, told a corporate conference in New York that the bank ...

Comment?

Related Topix: Investment Banking, Financial Services, Goldman Sachs Group, Investment Services, US Politics, Edolphus Towns, US News, US House of Representatives, Democrat, Insurance, Bank of New York, Banking

Reuters

Congress panel backs big bank break-up power

The U.S. House Financial Services Committee voted on Wednesday to approve a proposal that would empower government regulators to break up large financial firms that threaten economic stability.

Comment?

Related Topix: US News, Paul Kanjorski, US Politics, US House of Representatives, Democrat, 2008 Presidential Election, Insurance, Business News

Wed Nov 18, 2009

KQED-FM

Watchdog Says Fed Paid Too Much In AIG Bailout

A government audit says the Federal Reserve Bank of New York caved in to pressure from major banks when it bailed out the insurance giant AIG last year.

Comment?

Related Topix: Bank of New York, Banking, Financial Services, Games, Poker, Insurance

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