Items Tagged with 'American International Group Inc.'

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  • Groundbreaker: AIG insures crisis-era United Guaranty mortgage insurance policies

    Risk-transfer deals just jumped to a whole other level
    By its own admission, American International Group is set to break ground in the risk-transfer space. The company announced Monday that it obtained an insurance policy designed to cover any losses the company might suffer on a series of crisis-era mortgages that are currently insured by its mortgage insurance subsidiary, United Guaranty.
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  • AIG Posts Q1 Loss Amid Restructuring Costs

    American International Group, Inc. [stock AIG][/stock] reports a first-quarter loss of $4.35bn, or $1.98 per share, driven in part by a number of restructuring charges, the company said late last week. Additional hits to AIG's balance sheet comes in the form of unwinding credit default swaps programs and risky investments in debt obligations backed by residential properties. First quarter's loss is far narrower than the record $61.7bn Q408 loss, which marked the largest quarterly loss in the company's history.
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  • Bernanke on Non-Banks: Passover to a New Rule Book

    Significant non-banking financial institutions like American International Group Inc. [stock AIG][/stock] are an integral part of the U.S. economy and so interconnected with other institutions that outright failure is not an option, Federal Reserve chairman Ben Bernanke said in a speech today. Instead, he said, such firms ought to face a strict set of regulatory requirements -- and potential regulatory intervention -- similar to that imposed on banks by the Federal Deposit Insurance Corp.
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  • House Moves on Bonus Limits for TARP Recipients

    The House Committee on Financial Services announced Thursday it had passed H.R. 1664, the pay-for-performance bill that would prohibit certain compensation payments by firms that have received capital investments by the government through the Troubled Asset Relief Program. The bill would prohibit "unreasonable or excessive" compensation as well as "non-performance based bonuses."
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  • BofA's Lewis: We're Going to Repay TARP Funds, ASAP

    The growing public outrage towards bankers, evident in the AIG bonus debacle, clearly has banking executives anxious to get out of the government's back pocket as soon as possible, with Bank of America Corp. [stock BAC][/stock] CEO Ken Lewis telling the Los Angeles Times earlier this week that he intends BofA to begin repayment of government funds as soon as a "stress test" of the bank is complete at the end of next month.
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  • U.S. Seeks More Power in Seizing Firms

    Spiraling anger over the bailout and bonuses of American International Group Inc. [stock AIG][/stock], has brought to head the issue of regulatory power when it concerns large financial institutions that are not necessarily deposit-taking institutions insured by the government. The issue was taken up by the Obama administration Tuesday, when it began a full-fledged effort to expand the federal government’s power to seize control of any troubled financial institution deemed systematically important to the livelihood of the nation's financial system.
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  • AIG Employees Return Bonuses: Cuomo

    As of Tuesday morning, nine of the top ten bonus recipients at American International Group Inc. [stock AIG][/stock] have agreed to relinquish their bonuses in full, according to assessments by New York Attorney General Andrew Cuomo. Of the top 20, 15 employees have agreed to return their bonuses.
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  • Bonus Row Extends to Fannie, Freddie

    American International Group, Inc. [stock AIG][/stock] isn't the only government-assisted corporation to come under fire for the payout of bonuses to employees -- housing finance giants Fannie Mae [stock FNM][/stock] and Freddie Mac [stock FRE][/stock] are taking center stage as this week comes to a close for their own plans to pay out so-called 'retention' bonuses.
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