Trial Over Greenberg’s Challenge to AIG Bailout to Get Underway
One of the more unusual trials to come out of the 2008 financial crisis is set to begin on Monday, when a federal judge will consider whether the U.S. government’s rescue of American International...
View ArticleAIG Bailout Rushed Without Complete Documentation, Fed Lawyer Testifies
The Federal Reserve Bank of New York poured billions of dollars into rescuing American International Group Inc. in September 2008 without drawing up documents that would cement the government’s control...
View ArticleGeithner Expected to Testify on AIG Bailout Rate
Federal regulators cut a “loan sharky” interest rate on an $85 billion bailout loan to American International Group Inc. because it contributed to a debt service problem that threatened the insurer’s...
View ArticleEx-Treasurer Paulson Defends AIG’s Harsh Loan Terms
American International Group Inc. received harsher terms than other financial institutions in the 2008 financial crisis because regulators needed to send a message to markets that government help would...
View ArticleGeithner Testifies He Was Responsible for AIG Loan Rate
Timothy Geithner backed away from two of his more provocative assessments of the 2008 bailout of American International Group Inc., in a day of courtroom testimony marked by careful answers and a lack...
View ArticleWas AIG’s High Bailout Loan Rate Forced by Regulators?
A “crazily high” interest rate levied on American International Group Inc.’s $85 billion bailout loan may have been forced on the Federal Reserve Bank of New York by other regulators, according to...
View ArticleUnfamiliar Fed Saw ‘Exceptional’ Risks in AIG Situation, Says Geithner
American International Group Inc.’s unique set of risks was seen by one of the primary orchestrators of its rescue as requiring tough conditions that included the government’s taking most of the...
View ArticleBernanke Defends AIG Bailout Terms; Judge Opens Fed’s ‘Doomsday Book’
Former Federal Reserve Chairman Ben Bernanke defended the sterner treatment of American International Group Inc. in the 2008 bailout compared with how investment banks were handled, saying the rescue...
View ArticleAIG Bailout Trial Shifts to Former AIG Executives, Other Regulators
The trial over the American International Group Inc. bailout shifts this week from the architects of the 2008 rescue, who spent days testifying as to why they imposed the terms they did on the ailing...
View ArticleAIG Bailout Trial Probes Role of Ex-CEO Liddy
Former American International Group Inc. Chief Executive Officer Edward Liddy will face a key question on the witness stand in a trial over claims shareholders were cheated of at least $25 billion in...
View ArticleAIG Ex-CEO Liddy Testifies on Role in Bailout
Former American International Group Inc. Chief Executive Officer Edward Liddy testified he chose not to buck government overseers who selected him to run the bailed- out insurer. Developing trust with...
View ArticleAIG Ex-CEO Liddy Defends Closeness with Government During Bailout
Former American International Group Inc. Chief Executive Officer Edward Liddy defended his decision to work closely with the government at the time of the company’s 2008 bailout, saying he hoped to win...
View ArticleGovernment Prepares Defense in AIG Bailout Trial
David Boies spent much of the past month interrogating the architects of the 2008 Wall Street bailout, making the case that the U.S. cheated American International Group Inc. shareholders of at least...
View ArticleGreenberg Upset Win in AIG $25 Billion Bailout Trial Possible
Lawyer David Boies has a shot at an upset win in the trial of Maurice “Hank” Greenberg’s $25 billion bailout case against the U.S. government, a turnaround from the weak odds he was given just a month...
View ArticleU.S. Didn’t Reveal Potential Chinese AIG Rescue, Ex-CEO Testifies
American International Group Inc.’s former chief executive officer said regulators didn’t tell him about a potential Chinese investment before the U.S. government’s 2008 bailout of the insurer. Robert...
View ArticleAIG Bailout Judge Not Intimidated by Government, Wall Street Names
Hank Greenberg’s legal assault on the U.S. government and the terms imposed in its 2008 bailout of American International Group Inc. brought a parade of financial crisis superstars to a Washington...
View ArticleGreenberg Feels Good About AIG Bailout Trial Closing
Maurice “Hank” Greenberg, the former chief executive officer of American International Group Inc., said he’s happy with closing arguments in a trial his company has led against the U.S. regarding AIG’s...
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