AIG

  • News

    Robert Benmosche Waxes Nostalgic

    During a rainstorm in Washington in early 2009, amid the furor over Wall Street’s post-bailout bonuses, an American International Group employee pulled out an umbrella that had the insurer’s name on it. “Somebody came by, grabbed the umbrella and broke it,” said AIG Chief Executive Robert Benmosche, who added that the attacker told the employee […]

    / Dec 21, 2010 at 11:16 AM
  • News

    Layoffs Watch ’10: Chartis

    Cuts going down circa now.

    / Nov 9, 2010 at 1:08 PM
  • News

    AIG Names Sid Sankaran Senior VP, Chief Risk Officer

    American International Group today announced that Sid Sankaran will join AIG as Senior Vice President, Chief Risk Officer.

    / Nov 8, 2010 at 8:45 AM
  • News

    Robert Benmosche Is “Feeling Great”

    Something you’ve probably picked up on over the last year or so is that Robert Benmosche? Is no one’s bitch. Not the market’s bitch, not Treasury’s bitch, not Andrew Cuomo’s bitch, and definitely not cancer’s bitch. At times when others would’ve rolled over and taken it, ‘Mosche told them where they could go. So it […]

    / Nov 5, 2010 at 1:07 PM
  • News

    The Best Lines From The White House’s Rebuttal To The SIGTARP Report

    Earlier this week, Troubled Asset Relief Program’s inspector general Neil Barofsky issued a report noting that the Treasury’s estimate that it will lose $5 billion on its AIG TARP investment “represents a dramatic shift from the $45 billion loss that Treasury had projected in its AIG investment just six months earlier.” Barofsky went on to […]

    / Oct 27, 2010 at 3:39 PM
  • News

    You’re Invited: Celebrate With AIG

    Say what you will about 70 Pine Street– the headquarters of AIG, the most majestic insurance company/hedge fund in all the land, but we’ve all had some good times there, whether directly or as the indirect beneficiaries of stuff that went down. It’s incredibly emotional even just to think about the fact that the company […]

    / Oct 26, 2010 at 3:57 PM
  • News

    Hank Greenberg Loves The Treasury’s AIG Exit Plan

    No, just messing. He thinks it sucks, big time.

    / Sep 30, 2010 at 5:41 PM
  • News

    Robert Benmosche Accomplishes Job No One Thought Possible

    Bobby Benmosche, celebrating the fact that he’s survived an entire year to the day at AIG, an achievement no one saw coming. [WSJ]

    / Aug 10, 2010 at 2:48 PM
  • News

    Robert Benmosche Expects Government To Be Out Of AIG’s Hair Soon, Taxpayers To Get Their Money At Some Point

    It pales in comparison to the insurer’s biggest news of the summer but exciting nonetheless.

    / Aug 6, 2010 at 11:41 AM
  • News

    Joe Cassano Coulda Been A Hero, If You’d Let Him Try

    “[Cassano] even went so far as to claim that he might have been able to help minimize the government’s bailout of AIG. Part of the money spent to save the company was funneled to more than a dozen banks that had taken out insurance contracts against AIG defaulting on its debt. “I think I would […]

    / Jun 30, 2010 at 4:48 PM
  • News

    Joe Cassano, Most Selfless Individual In All The Land, Begged His Bosses At AIG To Let Him Not Take A Bonus

    But they said no, Joe, no. You, our adorable little Jon Lovitz lookalike, deserve this. We won’t have it any other way. You have done so much for this company! Letting you walk away without $315 million would be practically criminal. Would you like that in unmarked, non-consecutive twenties? Singles? Briefcase or g-string? Joe Cassano’s […]

    / Jun 30, 2010 at 11:00 AM
  • News

    AIG Reaches Incredible Milestone

    They said it couldn’t be done. They laughed when people suggested otherwise. They had good money riding on it, fact. They were wrong. And so today, we need to give a little credit where a little credit is due. A lot, in fact. Today, we need to give it up for AIG. Specifically, to the […]

    / Jun 18, 2010 at 11:21 AM
  • News

    Benmosche Promises Not To Abandon AIG For A Least Another Year Or So

    Robert Benmosche has a vineyard in Croatia take care of and the finest bathroom fixtures money can buy. And it would be nice to tend to his grapes and enjoy some time on the can without having to worry about the company he’s been tasked with turning around, and the government breathing down his neck. […]

    / Apr 6, 2010 at 1:15 PM
  • News

    Robert Benmosche Has His Reasons For Not Working Out Of AIG’s Corporate Headquarters

    Today the Journal has a story examining the effects of absentee CEOs, particularly those running some of our nation’s shittiest bailed out companies. Though there is the argument that these firms will never learn to stand on their own feet unless we stop coddling them, some feel the absence of daddy chief execs hurts employee […]

    / Mar 31, 2010 at 3:45 PM
  • News

    Robert Benmosche Loves You All

    As you know, AIG’s fourth quarter results came in– not so good!. In any case, Bobby B. is happy and wants the world to know it. AIG reported a loss of $8.9 billion in the fourth quarter, which is an improvement from the $61.7 billion loss in the year-ago period. And this, my friends, is […]

    / Feb 26, 2010 at 12:59 PM
  • News

    Darrell Issa Is Not Finished With Tim Geithner

    Timmy G’s tormentor-in-chief Rep. Darrell Issa will get to the bottom of that whole AIG saga, believe you me. Issa sent yet another letter to Bernanke yesterday, asking him to turn over all Fed documents related to the AIG bailout and its credit-default counterparties. Apparently those 250,000 pages they already turned in don’t reveal anything […]

    / Feb 18, 2010 at 5:00 PM
  • News

    The Mysterious Case of AIG’s Schedule A

    Kudos to Matthew Goldstein who yesterday got a hold of AIG’s much sought-after Schedule A, “List of Derivatives Transactions.” Let’s hope that Hollywood optioned the AIG saga, because the story is too good to pass. (I’m digressing for a moment, but any thoughts on who could play Geither? Blankfein? Liddy?) While the unveiling of Sked-A […]

    / Jan 28, 2010 at 12:20 PM
  • News

    Barofksy: FYI, French Would’ve Negotiated With AIG

    SIGTARP Neil Barofsky- who is testifying later today- is adding oil to the AIG fire, saying in prepared remarks that French regulators were actually willing to negotiate AIG’s obligations after all. The claim further undercuts the argument the Fed has been using all along, namely that they didn’t push domestic counterparties to take haircuts as […]

    / Jan 27, 2010 at 1:40 PM
  • News

    Live-Blog Part II: Paulson In The House

    12:40 Hank, whose rosacea is flaring up like nobody’s business, has arrived to put Geithner out of his misery. 12:41 He’s happy be to be here and answer your questions, but just so you know, he’s got limited knowledge of the topics and not a lot of time, so let’s move this shit along. Seriously, […]

    / Jan 27, 2010 at 12:40 PM
  • News

    Live-Blogging The Geithner Grilling

    9:55 5 minutes to show time. While we wait: (I have it on good authority that Geithner and Paulson have rehearsed the above moves and will be performing them in lieu of opening remarks. Or they’ll just sit there and recuse themselves while turning red. It’ll be one of these two things. Hoping against hope…) […]

    / Jan 27, 2010 at 9:55 AM
  • News

    AIG More Threatening Than Bomber’s Balls

    Testicle bombers can apparently board planes freely despite being on terrorist watchlists and after having been reported to the CIA, but dammit, AIG emails will get a national security status.

    / Jan 25, 2010 at 3:53 PM
  • News

    Geithner And Bernanke: Bros Before Hos

    Brothers in arms Timmy G. and Ben B. will stand for each other ’til the end. In an interview with Politico, Timmy boy warned that the financial markets would react negatively, Armageddon will come and there will be locust showers if Ben isn’t confirmed. So there you go. He warned you. In the meantime, there’s […]

    / Jan 25, 2010 at 11:17 AM
  • News

    Tim Geithner Had Some Chats About The AIG Bailout He Wasn’t Involved In

    Timmy G, who, as we know is getting really frustrated with the whole AIG bailout storyline, apparently had a nice convo with Warren Buffett, Jamie D. and Lloyd on the day AIG was bailed out, at least according to phone logs submitted by the Fed in response to a subpoena last week from the House […]

    / Jan 22, 2010 at 4:58 PM
  • News

    NYFed Defends “Accuracy” Of AIG Deal

    The Fed is funny. Not Bernanke-funny but getting there. That whole controversy about them pushing AIG not to disclose some information, especially regarding its counterparties and how much money they got? Well, it wasn’t that they refused to make the appropriate disclosures, but rather that they were trying to be accurate, hence edited some data. […]

    / Jan 20, 2010 at 2:45 PM
  • News

    Ben Bernanke Would Love People To Poke Around The AIG Bailout

    Ah Bernanke and his perfect sense of timing. Ben decided to play nice today and wrote a letter to GAO Acting Comptroller Gene Dodaro to let him know that the Fed would “welcome a full review by GAO of all aspects of our involvement in the extension of credit to AIG.” Even though he’s on […]

    / Jan 19, 2010 at 3:00 PM
  • News

    AIG To Strike Bonus Compromise?

    Yael will be guest-contributing to DealBreaker for the next couple weeks. She’s worked as an editor for Investment Dealers’ Digest and Dow Jones. Welcome her! Maybe AIG and Blankfein should just team up to do God’s work, because each week brings more proof that the bailed out giant mess of a company works in mysterious […]

    / Jan 19, 2010 at 10:47 AM
  • News

    Tim Geithner Knows No One’s Really Mad At Him

    A few days back, there was some suggestion that while he was running the New York Fed, Tim Geithner and his staff maybe instructed AIG to keep its payments to banks hush-hush, as backed up by emails containing memos saying as much. Timbo’s former employer said TG had nothing to do with it, but some […]

    / Jan 14, 2010 at 5:36 PM

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