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Is the American International Group (AIG) still a threat?
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Dec 31, 2022 · Learn how AIG, a global insurance giant, nearly collapsed in 2008 due to its exposure to risky financial products. Find out how the U.S. government stepped in to save AIG and what were the consequences for taxpayers and the economy.
Aug 3, 2015 · The collapse and near-failure of insurance giant American International Group (AIG) was a major moment in the recent financial crisis. AIG, a global company with about $1 trillion in assets prior to the crisis, lost $99.2 billion in 2008.
Aug 6, 2010 · American International Group, largest insurance company in the world, was hemorrhaging capital, rapidly sinking toward bankruptcy. At the New York Fed, Geithner had the problem covered, or so...
Apr 7, 2010 · Its collapse on September 16, 2008, caught nearly everyone by surprise. Indeed, the unraveling of the House of Hank was a quake of such magnitude that the Federal Reserve Board decided to bail out...
Jan 27, 2009 · Christian Milton and other former AIG and Gen Re executives were convicted for manipulating AIG's financial statements by using sham reinsurance transactions. The scheme caused AIG to overstate its loss reserves and mislead investors, resulting in a $597 million loss for shareholders.
Feb 10, 2017 · Maurice “Hank” Greenberg, the former chief executive of American International Group ( AIG ), is admitting to fraud under a settlement of a long-running lawsuit against the insurance giant...
Feb 9, 2006 · AIG paid $800 million to resolve claims related to improper accounting, bid rigging and workers’ compensation funds. The settlement involved sham reinsurance transactions with Gen Re and other entities to inflate AIG’s financial results.
