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AIG and U.S. Set Faster, Riskier Exit Path Greenberg said the asset sales reduced AIG’s diversification and added risk, especially because property-casualty business is volatile. “If I had the choice, I would sell the domestic life business rather than the Asian business (AIA),” Greenberg said. Benmosche said AIG may at some point consider a partial […]
AIG and U.S. Set Faster, Riskier Exit Path American International Group Inc and the U.S. government agreed on Thursday agreed on a plan that would accelerate the payback of bailout money and could yield a profit for taxpayers but also increase their risk. The plan comes a little over two years after AIG was first […]
A former Goldman Sachs employee accused of stealing a proprietary computer code to the firm’s trading program is out on bail, according to court documents. The chairman of BP Capital Management announced Tuesday that his plans for the Pampa Wind Project, designed to generate 4,000 megawatts of electricity using thousands of wind turbines, is on hold. “I had hoped that Pampa would be the starting point, but transmission issues and the problem with the capital markets make that unfeasible at this point,” Pickens told CNN’s Ali Velshi
Billionaire oil man T. Boone Pickens is shelving plans to build the world’s largest wind farm. The chairman of BP Capital Management announced Tuesday that his plans for the Pampa Wind Project, designed to generate 4,000 megawatts of electricity using thousands of wind turbines, is on hold.
If you want to know whether the banking crisis is in the third inning or the ninth, consider Corus Bankshares. The Chicago regional bank has made just over $4 billion in commercial real estate loans. The recently completed government bank stress tests assumed that as many as 12% of all such loans could go bad in the next two years
The White House scrambled on Monday to get ahead of the latest outrage stemming from the bailout of failed corporate behemoth American International Group : $165 million in bonus pay for executives in one part of the firm, which is now 80% controlled by American taxpayers. President Barack Obama took to the podium in the East Room to tag AIG by name, calling its financial predicament a product of “recklessness and greed.” The President said he has asked Treasury Secretary Timothy Geithner to “block these bonuses and make the American taxpayers whole,” adding, “This isn’t just a matter of dollars and cents