American International Group Inc

Add a Comment See all 40 Comments by the_majesty August 20, 2009 7:24 PM EDT Is this part of Obama's plan ? Like This Reply to this comment by cdegolier August 20, 2009 7:47 PM EDT obama doesn't seem to think things through very well, the cc companies told him it would happen. When will demies make people take responsibility for themselves.  

In the late 1970s, as the federal government arranged to bail out Chrysler, not-yet-famous economist Alan Greenspan warned the problem "was not that it would fail, but that it would succeed." And it did, thus paving the way for more bailouts, including (again) Chrysler. But the first Chrysler bailout was just one company, one time.  

 

Investors and everyday people were hit hard when the loathsome Bernard Madoff and his Ponzi scheme encompassing 15,000 clients and $65 billion — a massive scam outdone only by the Social Security Administration — was exposed. Financial futures, retirement savings and education funds were wiped out as the victims felt their worlds slipping away. Public fury soared last summer as gas prices peaked over the $4 mark and Americans were forced to cut back on driving habits as the price of oil restricted their  

The bulls have regained the upper hand as markets look ready to settle into a real summer lull. The events though that could shake things up Friday are existing home sales for July, reported at 10 am, and a speech by Fed Chairman Ben Bernanke, also at 10 am. Bernanke speaks to the annual Kansas City Fed symposium in Jackson Hole, Wyo. He will likely give an update on the financial crisis, the Fed's rescue programs, and the economy.  

Shares rose strongly on the news, rising as much as 31pc on the New York Stock Exchange. "My first charge is to get the company to operate at the level it used to operate, being the world's best," he said. "The fact is we owe the US government a lot of money and we are not going to be able to pay it back just by our profits, so we will sell some of the company off, but only at the right time at the right price."

I think the CEO's comments mentioned in the Bloomberg story triggered a rally this morning   -Frederic Ruffy

 

A Chinatrust Financial Holding Co.-led group may drop out of the running for American International Group Inc.'s Taiwan unit because of disagreement over the value of the business, two people familiar with the matter said. Chinatrust, Bain Capital LLC and Oaktree Capital Management LLC have yet to agree on a bid because they are unable to assess the amount of capital the unit AIG wants to sell for at least US$2 billion needs in coming years, the people said, asking not to be identified because the talks  

I will now turn the call over to David Havlek, Vice President of Investor Relations. Welcome everyone to today's call. Joining me today from San Francisco headquarters to discuss our second quarter fiscal year 2010 results are Chairman and Chief Executive, Marc Benioff, and Graham Smith, our Chief Financial Officer.  

Wall Street is warily watching the Obama administration's pay czar and wondering if he will flex his muscle to "claw back" past bonuses paid to some of the biggest players in high finance. Such a move, which Kenneth Feinberg first publicly hinted at this past weekend, could roil the industry, which lately seemed to have successfully toned down congressional efforts to curb outsized pay packages. "There are some real concerns about the scope of 'clawbacks' and the people and payments that they may reac

It is a very difficult issue   -Kenneth Feinberg