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04 Dec

A.I.G. and U.S. In Deal to Terminate Some Debt Obligations

The American International Group and the U.S. government have reached an agreement to clear the insurer of its obligations on about $53.5 billion in toxic mortgage debt, the giant insurer said in a regulatory filing on Tuesday. The development is part of the U.S. Federal Reserve’s agreement...

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AIG scraps "bonus" plan and replaces it with "retention" plan

Retain them? Besides the unemployment line, where would these people go? If ever there was a company begging for either Congress or the State of New York to lower the boom, it would be AIG. Looking at how badly they ruined their once proud business and then repeatedly stumbled with their post-...

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Greenberg Urges Yet Another A.I.G. Lifeline

Maurice R. Greenberg can’t let his old firm go. The former chief executive of the American International Group again took to the op-ed pages of The Wall Street Journal, writing on Tuesday that the insurance giant needs yet another revision to its bailout by the federal government. It’...

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Abu Dhabi Firm to Buy A.I.G. Unit

While Dubai is in a quicksand of debt, its sister emirate up the coast, Abu Dhabi, apparently has plenty of cash to do deals. Aabar Investments, an investment firm with ties to Abu Dhabi’s ruling family, has agreed to buy American International Group’s private Swiss banking unit for $...

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Fed Ramps Up Emergency Loan Program

WASHINGTON — The Federal Reserve boosted its lending to commercial banks and investment firms over the past week, indicating that a severe credit crisis was still squeezing the financial system. The Fed released a report Friday saying commercial banks averaged $93.6 billion in daily borrow...

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AIG to pay retention bonuses to executives

One day after announcing limits on salaries and bonuses for its top executives, AIG revealed some of those executives will receive millions in "retention bonuses" next year ...

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