AIG

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    News

    AIG Put A Lot Of Thought Into Making Its Obvious Decision Not To Sue The Government

    Have you ever wanted to hold a mock trial of Hank Greenberg’s lawsuit over the AIG bailout from the comfort of your own home? If so, you’re in luck, because yesterday AIG filed with a federal court the complete AIG Mock Trial Deluxe Kit. It’s all here: A written protocol for conducting the mock trial […]

    / Jan 24, 2013 at 10:11 AM
  • I see what you did there

    News

    AIG Pretended It Might Sue The Government To Distract Attention From Its Actually Suing The Government

    There’s a lot to choose from but I’m going to say that the very best thing about AIG’s pretending it might sue the government last week, and then not doing it, is that then it actually sued the government: American International Group Inc. filed a lawsuit against a Federal Reserve vehicle created during AIG’s bailout […]

    / Jan 14, 2013 at 10:25 AM
  • ehhh

    News

    Did Hank Greenberg Get Anything Out Of AIG’s Decision Not To Sue The Government With Him?

    I know it’s almost time to forget about former AIG CEO Hank Greenberg’s lawsuit against the government, since AIG yesterday decided not to join it, but I find myself unable to let go. Over the past couple of days of swirling outrage I’ve spent a lot of time with Greenberg’s complaint, and the Court of […]

    / Jan 10, 2013 at 6:07 PM
  • I'd be open to using pictures of the baseball player but there are actually a lot of good ones of Maurice. Even without the dog.

    News

    AIG Directors Could Barely Get Through A Morning Of Pretending They Might Sue The Government

    Remember yesterday when AIG was going to sue the government for bailing it out? Hahaha yeah that was never going to happen, and today it didn’t: American International Group Inc.’s directors decided Wednesday not to participate in a lawsuit that accuses the U.S. government of taking advantage of the company in its rescue from the […]

    / Jan 9, 2013 at 5:48 PM
  • where is my dog

    News

    AIG’s Directors Will Spend Tomorrow Pretending That They Might Sue The Government

    Is AIG going to sue the government for bailing it out? Hahaha no of course not, come on, that would be nuts. So what is this? The board of A.I.G. will meet on Wednesday to consider joining a $25 billion shareholder lawsuit against the government, court records show. The lawsuit does not argue that government […]

    / Jan 8, 2013 at 10:27 AM
  • Today the blue line reaches zero and the circle of life is complete

    News

    AIG’s Remaining Bailout Reduced To Rounding Error

    A while back I built a spreadsheet to do math about AIG, and it took me a long time and led to basically one short post with what I still think was a rather lovely blobby picture, so I’m just going to shamelessly reuse that spreadsheet with slight updates and be all OOH LOOK AN […]

    / Dec 11, 2012 at 5:47 PM
  • robertbenmoscheaig

    Take a bow

    Robert Benmosche: We Showed This World A Thing Or Two

    “Dear Colleagues,” Robert Benmosche wrote in a memo to AIG employees today. “We come together as a company to celebrate in good times and we draw together in times of shared crisis. Today warrants a celebration like no other in AIG’s history and places well in the past a crisis none of us will ever […]

    / Dec 11, 2012 at 11:06 AM
  • That dog is not to be trifled with

    News

    Hank Greenberg Will Not Be Getting His $25 Billion Back This Week

    What’s good about the dismissal of Hank Greenberg’s AIG lawsuit today is that there’s all this roiling weirdness under the basic story of: The government seized AIG because it was garbage, AIG shareholder, ex-CEO, and general fanboy Hank Greenberg sued the government for destroying the valuable valuable value of his AIG stock, and he lost. […]

    / Nov 19, 2012 at 6:26 PM
  • News

    Robert Benmosche Is Pretty Sure People Angry At AIG Re: Bailouts Sit At Home Thinking, “Look at them, with their free EZ Passes”

    “People are angry because they want to blame somebody else. They don’t take responsibility for their own goddamn lives. ‘I’ve never been promoted, because they don’t like me and there were these guys at AIG, look at them they have free lunches and EZ Pass and look at me I don’t get a free lunch.’ […]

    / Oct 23, 2012 at 7:34 PM
  • News

    Robert Benmosche Was Less Than Thrilled About Post-Crisis Restrictions On Corporate Jet Usage

    After the Great Auto CEO Debacle of 2008, the government had put its foot down on private-jet use by CEOs of TARP-supported companies, and when these onerous restrictions threatened to thwart his ability to make his granddaughter’s birthday party in Chicago, he exploded. “I said to Jim, ‘Here is the deal,’ ” he recalls. “ ‘I’m going […]

    / Oct 22, 2012 at 6:13 PM
  • Google Spreadsheets is less fun than Excel for charting, but on the plus side your charts come out looking like you work at Google

    News

    How Much Did The Government Make On AIG, Anyway?

    AIG priced a giant stock offering last night at $32.50, making the government rich. A really really simple question you could ask about AIG is “how’s the government doing?” and I Googled around for the answer yesterday and got increasingly frustrated, then angry, then drunk. Why can’t someone tell me that? The answer has to […]

    / Sep 11, 2012 at 11:34 AM
  • News

    A Company Is In The Hole For $182 Billion, Hank Greenberg Can See The Merit In A Congressional Hearing But $2-9BN? Beat It

    “Many companies have transactions that go bad,” Greenberg said today on “In the Loop With Betty Liu” on Bloomberg Television. “Everybody’s not paraded down to Washington to testify.” “He handled it OK,” Greenberg said of Dimon, 56. “It was really outrageous to have the CEO come down and testify before Congress because of a transaction […]

    / Jul 9, 2012 at 6:39 PM
  • News

    JPMorgan Risk Committee Directors Big On Life Experience, Wall Street Experience Less So

    The three directors who oversee risk at JPMorgan Chase include a museum head who sat on American International Group Inc.’s governance committee in 2008, the grandson of a billionaire and the chief executive officer of a company that makes flight controls and work boots. What the risk committee of the biggest U.S. lender lacks, and […]

    / May 25, 2012 at 10:45 AM
  • News

    Things AIG Employees Say: “Make sure you grab a bite to eat before this one does! He’s been known to clean out a Danish platter!”

    What were AIG employees doing in April 2008? Carelessly writing CDS on enormous quantities of mortgage-backed securities and (allegedly) laying the groundwork for being sued over “racist [and sizeist?] taunts,” apparently.

    An obese black lawyer filed a federal lawsuit yesterday against insurance giant AIG and an ex-supervisor, saying his white boss yelled out “Hey! Hey! Hey! It’s Fat Albert!” and other racist taunts. Earl Brown, 43, an Ivy league-educated lawyer, claimed in the civil-rights suit that the ex-boss, John Hornbostel, 49, peppered him with racist remarks and cruel jokes about his weight for years before he was canned without cause. “Make sure you grab a bite to eat before this one does! He’s been known to clean out a Danish platter,” Hornbostel yelled about Brown during a meeting in April 2008, the suit claims. Hornbostel then allegedly walked away humming the tune to the “Fat Albert and the Cosby Kids” animated TV show.

    Hornbostel seems to have ended up at a hedge fund post-AIG. It’s unclear if he’s tried out any new material on his new colleagues.

    Obese lawyer sues supervisor and AIG for ‘Fat Albert’ insults [NYP via ATL]

    / Apr 26, 2012 at 3:47 PM
  • richardbransondog

    News

    Presenting: Executive Bitches

    For Valentine’s Day this year, Fortune put together a slideshow of various executives, analysts, fund managers, and disgraced AIG CEOs posing with their one true loves– their dogs. For the big names who missed the deadline to submit photos, fear not– this feature is clearly going to become an annual thing. For those already mentally directing a photoshoot of yourself and Jamie the Younger, maybe running down Park Ave or shooting hoops at the Garden, you might first consider looking to this year’s pioneering efforts for inspiration.

    / Feb 14, 2012 at 12:46 PM
  • david-viniar

    Banks, News

    Goldman Sachs Stopped By To Pick Up Some Things AIG Was Holding On To For It

    There’s a juicy pile of something going on over on Maiden Lane. Once upon a time, Goldman Sachs murdered AIG and stuffed its corpse with tons of shall we say “troubled” residential mortgage-backed securities. Like a cursed diamond, those securities then bounced around among owners who came to bad ends and ended up in a […]

    / Feb 10, 2012 at 3:33 PM
  • News

    Hank Greenberg Should Maybe Get His $25bn Back, But Not For The Reasons He Thinks

    Remember a couple of months ago when former AIG CEO and current dog fancier Hank Greenberg sued the government for $25 billion because it had stolen AIG from him? We all had a good giggle at that but some people think he wasn’t entirely crazy. One of those people is friend of Dealbreaker and Stanford […]

    / Jan 31, 2012 at 5:16 PM
  • News

    Hank Greenberg Wants To Know Why His Bailout Was So Much Crappier Than Everyone Else’s

    The complaint in Hank Greenberg’s lawsuit against America is now online, and strange and entertaining in equal measures. I’m pretty sure Occupy Wall Street will be interested to hear his theory that the Constitution allows Fed bailouts of struggling financial institutions, but requires those bailouts to be much gentler than the one handed to AIG. […]

    / Nov 21, 2011 at 4:26 PM
  • News

    Hank Greenberg Estimates If The Government Had Minded Its Own Damn Business Back In ’08, AIG Would’ve Been At Least $25 Billion Ahead Right Now

    Remember September 2008? Remember how American International Group was doing in September 2008? Kind of not so hot? Maybe needed the government to front it some cash to the tune of $85 billion? Maybe needed even more money after that, even though they swore they just needed that one hit, just to get them by? […]

    / Nov 21, 2011 at 11:47 AM
  • News

    Sorry, AIG’s Not Sorry For Partying

    American International Group Inc, the insurer majority owned by the U.S. after a 2008 bailout, is hosting an event at a California facility that advertises “the amenities of an ultra luxury hotel.” The American General unit assembled about 65 people who distribute its products for a two-and-a-half-day stay this week at the Resort at Pelican […]

    / Oct 17, 2011 at 5:52 PM
  • News

    AIG Seeks Revenge, Rounds Up The Usual Suspect

    Remember when the Treasury bailed out AIG and the bailout money was funneled to foreign and/or mollusk counterparties and everyone freaked out? Those were good times. Less good for banks is today, when, in addition to the world ending, AIG started to sue to get some of that money back.

    / Aug 8, 2011 at 6:34 PM
  • News

    White Collar Crime: Selling Fake Reinsurance Works Out Much Better Than Selling Fake Livers

    White collar criminals have had a rough couple of weeks, with judges ignoring important facts like Danielle Chiesi’s insider trading being caused by a deep need to stop her boss from “belittling her understanding of the financial numbers” and Donald Longueuil’s only insider trading on the job, never in his personal life. But there’s finally […]

    / Aug 1, 2011 at 1:38 PM
  • News

    AIG Will Not Be Treated Like Some Slut Who Grew Up Without A Father Figure

    In a video accompanying a 40-page slide show describing AIG’s attributes, businesses and financial goals, Chief Executive Robert Benmosche said “there is no more crisis” for the bailed-out insurance company, which now has “lots of growth opportunities,” in his view. Alluding to recent tensions over the size and potential price of the stock offering that […]

    / May 13, 2011 at 3:44 PM
  • News

    Fatal Risk: The Re-Education Of Goldman Sachs

    The following excerpt is from Fatal Risk: A Cautionary Tale Of AIG’s Corporate Suicide, a new book by investigative reporter Roddy Boyd. The role of Goldman Sachs in AIG’s saga had its roots in a little- remarked-upon series of promotions involving a pair of managers known as the “J. Aron guys” taking control of Goldman’s […]

    / Apr 15, 2011 at 12:00 PM
  • News

    Things That Would Have Made For A Nice Alternate Post-Financial Crisis Universe

    Lloyd Blankfein running AIG.

    / Mar 15, 2011 at 1:17 PM
  • News

    AIG: BACK IN THE GAME

    AIG executives, in their first conference call with Wall Street analysts in two years, sounded a cautiously optimistic tone as they mapped out the company’s future and explained its weak fourth-quarter operating results…When asked about the market position of AIG’s property and casualty business, now known as Chartis, which a Goldman Sachs analyst described on […]

    / Feb 25, 2011 at 1:45 PM
  • News

    US Taxpayers Now (Indirectly) Involved In Duke University Sex Scandal

    When a group of Duke University lacrosse students were wrongfully accused of sexually assaulting a stripper a few years back, did you watch from the sidelines, wracking your brain as to how you could somehow get in on the action? You probably didn’t want to be one of the main players but when the story […]

    / Feb 23, 2011 at 5:12 PM
  • News

    Former AIG Chairman Has Suggestion For Insurer’s 5 Year-Plan

    “Longer-term, AIG shouldn’t exist,” Golub said in an interview airing today on Bloomberg Television’s “In the Loop with Betty Liu.” [Bloomberg]

    / Jan 27, 2011 at 6:05 PM

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