Insurance Resources » Federal Reserve Bank of New York

Report: AIG to get $35.5 Billion for Asia-based Subsidiary

ike5266 — Tue, 02 Mar 2010 20:38:38 +0000

fficials for struggling insurer American International Group (AIG) are close to securing $35.5 billion for a lucrative Asia-based life insurance company from England-based Prudential.

Report: Federal Officials Sought National Security Status for AIG Info

ike5266 — Mon, 25 Jan 2010 20:35:38 +0000

Even as U.S. taxpayers involuntarily were forking over an initial $85 billion to prevent a pending bankruptcy by insurer American International Group (AIG), federal officials attempted to gain national security status on some transactions and prevent the public from knowing how their tax dollars were being allocated.

Fed Gets $9 Billion if MetLife Buys AIG Subsidiary

ike5266 — Thu, 21 Jan 2010 20:06:40 +0000

Reports of a pending sale of a lucrative, Asian-based life insurance unit to MetLife by the American International Group (AIG) could mean U.S. taxpayers will recoup up to $9 billion of their involuntary rescue of the nearly bankrupted insurance giant.

Bunning Pressing for SEC Probe of AIG Bank Payments

ike5266 — Tue, 12 Jan 2010 19:46:26 +0000

U.S. Senator Jim Bunning has joined a growing chorus of lawmakers calling for a federal investigation into potential law violations regarding the roles officials for the Federal Reserve Bank of New York might have played in securing full reimbursement for ailing insurers American International Group’s (AIG) banking partners and then hiding the transactions for U.S. taxpayers.

Fed: Geithner Not Privy to AIG Payout Information

ike5266 — Mon, 11 Jan 2010 20:08:07 +0000

Legal counsel for the Federal Reserve Bank of New York says U.S. Treasury Secretary Timothy Geithner did not participate in or know about negotiations ensuring U.S. taxpayers would fully reimburse American International Group’s (AIG) banking partners.

Federal Lawmakers Want Geithner to Testify about AIG Payments

ike5266 — Sat, 09 Jan 2010 01:04:42 +0000

Already a known tax cheat, lawmakers want U.S. treasury SecretaryTimothy Geithner to answer for his potential role in ensuring banks received every cent contractually owed to them by the ailing American International Group (AIG) even after an initial $85 billion in taxpayer funds was allocated to the firm to stave off its impending bankruptcy in the fall and winter of 2008.

Report: Geithner Sought to Keep Taxpayers in Dark Over AIG Payments

ike5266 — Fri, 08 Jan 2010 18:14:00 +0000

Even after U.S. taxpayers involuntarily provided an initial $85 billion bailout to ailing insurer American International Group (AIG), U.S. Treasury Secretary Timothy Geithner pressured company officials not to inform taxpayers about payments to AIG’s banking partners.

AIG Plans Hong Kong IPO for Subsidiary Partly Owned by U.S. Taxpayers

ike5266 — Fri, 04 Dec 2009 00:29:28 +0000

Soon after allocating billions of dollars worth of shares in subsidiary firms to the federal government in exchange for debt forgiveness, officials for taxpayer-rescued insurance giant American International Group (AIG) today announced plans to list one of the life insurance subsidiaries on the Hong Kong stock exchange.

Fed Goes into Business with AIG for $25 Billion

ike5266 — Thu, 03 Dec 2009 00:17:47 +0000

The Federal Reserve Bank of New York has forgiven $25 billion in debt owed by AIG in exchange for preferred shares in two overseas life insurance units to be sold.

AIG Settles $20 Billion Legal Dispute with Former Executives

ike5266 — Mon, 30 Nov 2009 20:13:41 +0000

AIG officials agreed to settle a $20 billion legal dispute with its former CEO and will resume working relationships to help get the ailing insurer back on its feet.

AIG Borrows Another $2.1 Billion from Fed

ike5266 — Wed, 11 Nov 2009 01:17:27 +0000

Officials for taxpayer-rescued American International Group (AIG) accessed another $2.1 billion of its $182.5 billion federal bailout in order to purchase shares of its subsidiary aircraft-leasing unit, the International Lease Finance Corporation (ILFC).