The House of Representatives passed legislation Thursday to try to recoup bonuses paid to Wall Street executives with taxpayer money.
AIG CEO Edward Liddy says he has asked employees to return at least a part of their bonuses.
AIG CEO Edward Liddy, testifying before Congress Wednesday, addressed one of the key questions surrounding the controversy over $165 million in executive bonuses at his company: When did government officials first learn of them?
President Obama says it is up to his administration to 'fix the mess' left by AIG and the banking system.
President Obama said Wednesday he'll "take responsibility" for AIG executives receiving controversial bonuses while the company took $173 billion in government bailouts.
The controversy surrounding bonuses at American International Group boiled over Wednesday when the company said it asked some employees to give the money back, but lawmakers said they remained troubled about how the bailed out insurer is being managed.
As the tide of outrage over AIG bonuses continued unabated Wednesday, a congressional committee became the epicenter of the issue as Edward Liddy, CEO and chairman of the troubled insurer, prepared to answer questions about executive bonuses.
CNN's Bill Schneider takes a look at the polls and how support for President Obama's stimulus plan is holding up.
Edward Liddy, chief executive officer of American International Group, is known for straight talking, consistent profit-making and innovative thinking.
Senate Democrats look to enact a new tax to strip $165M in bonuses from executives at AIG. CNN's Dana Bash reports.
Insurance giant AIG will have to return to the Treasury Department the $165 million it just paid out in executive bonuses, Treasury Secretary Timothy Geithner said Tuesday in a letter to congressional leaders.
Anger over $165 million in bonuses doled out to American International Group senior employees reached a fevered pitch on Monday, prompting the Obama administration to vow to recoup the money and a New York prosecutor to subpoena the firm for recipients' names.
White House officials and some members of Congress reacted strongly Sunday to news that insurance giant AIG had intended to pay out $165 million in bonuses and compensation. The company has received at least $170 billion in federal bailout money.
Under pressure from the Treasury, insurance giant AIG - a recipient of at least $170 billion in federal bailout money - is scaling back bonuses and compensation for some of its top-earning employees.
Should investors be worried about the financial strength of insurance companies? CNN's Mary Snow reports.
Under pressure from the Treasury Department, insurance giant AIG plans to scale back bonuses and compensation for some of its top-earning employees.
Within insurance giant American International Group, but known to only a few people, is something irreverently called the "kill list."
AIG Chief Executive Edward Liddy agreed to slash his annual salary to $1 as part of a series of voluntary pay restrictions by top executives tied to a massive $150 billion government bailout.
The CEO of embattled AIG says his employees were attending an educational seminar, not a resort retreat.
A key Democratic lawmaker called Tuesday for the resignation of American International Group's CEO after the troubled insurer held a financial planners conference last week at a posh Arizona resort.
Troubled insurer American International Group got a reworked $152.5 billion deal from the federal government Monday, as the Federal Reserve and Treasury Department made significant changes to the terms of the company's original bailout.
Troubled insurer American International Group - recipient of a more than $100 billion U.S. government bailout - agreed Wednesday to freeze $19 million in payments to former chief executive Martin Sullivan.
American International Group's CEO said Monday that the troubled insurer should start selling off pieces of its sprawling global business by year end.
The beleaguered insurance giant AIG announced plans Friday to hold onto its property and casualty insurance businesses, while selling off the rest of the company to pay its massive debt to the federal government.
Fortune: Risky Businessupdated: Thu Nov 02 2006 10:51:00
Mary Alice and José Martín's bungalow survived Katrina - but got hit in June. That's when Allstate informed the couple that their home, a mile from the glistening Gulf of Mexico, would no longer be...
Mary Alice and José Martín's bungalow survived Katrina - but got hit in June. That's when Allstate informed the couple that their home, a mile from the glistening Gulf of Mexico, would no longer be covered for windstorm or hail. "Here it is the middle of hurricane season," Mrs. Martín fumes. "Who in the world is going to sell me a windstorm policy right now?"
Faced with over $3 billion in claims from the barrage of hurricanes last year, Allstate is going on the defensive by pulling out of of high-risk markets as the industry prepares for increasingly severe hurricanes over the next two decades.
After facing a slew of insurance scandals, mounting catastrophe losses from Hurricane Katrina and the prospect of losing its terrorism insurance backstop, the insurance industry will hardly be sorry to bid adieu to 2005.
There's a war brewing in the insurance industry.
Allstate will take its battle for higher rate increases in Florida to arbitration after regulators denied the company's request for an 18 percent hike, the company's top executive said Wednesday.
Allstate, the largest publicly traded homeowners and auto insurer in the U.S., said it plans to scale back its exposure to the Gulf Coast homeowner's market following the devastation of hurricanes Katrina and Rita this summer.
Homeowners and car owners across the U.S. may see a spike in their insurance premiums following Hurricane Katrina, according to a report in the Wall Street Journal.
When Edward Liddy became CEO of Allstate in January 1999, he embarked on a campaign to reinvigorate the nation's second-largest property and casualty insurer (behind State Farm). He cut costs, bega...
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