If the students graduating from Alfred University on May 18 are expecting a world-is-your-oyster type speech from speaker, AIG CEO and Alfred alumnus Robert Benmosche, then they may want to put on headphones during his portion of the ceremony. Or they may want to listen to the tough love speech he’s got planned. [More]
Bank Of America, Comcast Among Familiar Names In List Of Least Reputable Companies
By February 14, 2013
Once again, the folks at Harris Interactive have released their Reputation Quotient Report, which rates public perception of 60 highly visible companies. Regular readers of Consumerist will not be shocked to see which companies brought up the rear this year. [More]
Report Rips Treasury Dept. For Giving Out Raises To Execs At Bailed-Out Companies
By January 28, 2013
Today, the Special Inspector General for the Troubled Asset Relief Program released her report on 2012 compensation for executives at institutions that received TARP bail-out money, and well… the title — Treasury Continues Approving Excessive Pay for Top Executives at Bailed-Out Companies — is about as on-the-nose as it gets. [More]
AIG Decides Not To Sue The Taxpayers That Bailed It Out
By January 9, 2013
Earlier today, the board of onetime Worst Company in America winner AIG met to discuss whether or not to pile on to a $25 billion lawsuit filed by its former CEO against the same federal government that spent $182 billion to bail the company out in 2008. Under pressure from the public and legislators, the company decided against it. [More]
Lawmakers To AIG: Don’t Even Think About Joining $25 Billion Lawsuit Against Govt.
By January 9, 2013
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While we all ponder what to eat for lunch today, the board of bailed-out insurance biggie AIG are meeting today to discuss whether or not to take part in a $25 billion lawsuit filed by its former CEO against the federal government. [More]
Fresh Off Paying Back Bailout Money, AIG Thinks About Suing U.S. Government
By January 8, 2013
At the same time as AIG thanks America, quite literally, in new ads boasting about the company’s repayment of its $182 billion bailout by the taxpayers, its board is reportedly getting ready to decide whether or not to jump on a $25 billion lawsuit filed by AIG’s former CEO against the U.S. government. [More]
The 26 Top CEOs Who Made More Than Their Companies Paid In Federal Taxes
By August 16, 2012
Once again, it’s time for the annual Institute for Policy Studies report on which top CEOs are earning more money than the companies they work for are paying out to federal government in taxes. [More]
Treasury Freezes Compensation For Top AIG, Ally, GM Executives
By April 6, 2012
While a majority of the American corporations that received “exceptional” bailout assistance form the Troubled Asset Relief Program, there are still three businesses — AIG, Ally Financial (you may know it by its pre-bust name of GMAC), and General Motors — remaining. Today, Treasury Dept. announced that the Acting Special Master for TARP Executive Compensation has determined that the top executives at this trio of companies will not get a pay raise in 2012. [More]
Apple & Google Are Corporate Kings Of Consumer Opinion, Big Banks Fail To Impress
By February 13, 2012
When it comes to trusting corporations, it seems we’re a lot more likely to have high opinions of the ones that provide us with shiny toys and zippy technology, rather than big bad banks and other financial institutions. That is, according to an annual public opinion poll on corporate brands. [More]
Former AIG CEO Sues U.S. Government For $25 Billion Over Takeover
By November 21, 2011
The one company that will forever be linked to the financial meltdown in the final years of the last decade is AIG (or American International Group, if you’re not into the whole brevity thing), which was bailed out and then effectively taken over by the U.S. government. Now a company led by AIG’s former CEO has filed suit against the feds, alleging that said takeover was unconstitutional. [More]
AIG Begins Offering "Reputation Insurance" For Companies With AIG-Like PR Disasters
By October 11, 2011
Someone at AIG must have a sense of humor. The bailed-out insurance behemoth — and, more importantly, one-time Worst Company In America champ — has announced it will now offer insurance policies that help defray the costs for damage control after a company does something that puts in the ranks of widely reviled businesses like AIG. [More]
AIG Suing Bank Of America Over Bad Mortgages
By August 8, 2011
In a legal battle that could be dubbed an all-star edition of our Worst Company In America tournament, AIG intends to sue Bank of America to get back $10 billion it lost investing in toxic mortgages made by BofA and two of its most infamous acquisitions, Countrywide and Merrill Lynch. [More]
New Trailer For "Inside Job" Financial Crisis Documentary
By August 31, 2010
Get ready to slake your thirst for populist rage. Inside Job is a new documentary coming out in October that aims to expose the truth about the true architects of the financial implosion of 2008. You can probably guess from the title whom they’re fingering. Matt Damon is the narrator and it’s released by Sony Pictures Classics. Here’s the trailer: [More]
US Bailout Money Wound Up In Foreign Banks
By August 13, 2010
Because of there being no data on where the money was going and a general attitude of pumping as much money into the banks as quickly as possible, billions of US bailout money wound up in the coffers of foreign financial firms, a watchdog panel chaired by Elizabeth Warren – Warren for CFPA head! – found. 43 of the 87 banks that benefited as a result of the of the AIG bailout were foreign. [More]
Men Behind AIG Collapse Prove Why They're The Biggest A-Holes On The Planet
By June 30, 2010
Back in 2007, we were all living in our 8-bedroom homes paid for with adjustable rate mortgages. And AIG’s Financial Products unit was selling credit-default swaps like there was no tomorrow. Then we all woke up in our parents’ basements with no job and AIG was owned by the taxpayers. But Joseph Cassano, the former head of said Financial Products division, thinks he could have done a better job of bailing out the banking industry he helped lead to ruin. [More]
AIG Chief Believes They'll Pay Back Bailout Billions Before Deadline
By April 4, 2010
$182.3 billion is a hefty tab to pay off, but the CEO of AIG says he feels “pretty comfortable” that his company will be able to get that all back to the government between now and the Sept. 2013 deadline. [More]
Worst Company In America 2010: AIG VS Cash4Gold
By March 29, 2010
Last year’s winner, AIG, takes on a small little company out of Florida. It’s David VS Goliath. [More]
Pay Czar Cuts Exec Pay 15% At AIG, GM And Others
By March 24, 2010
Kenneth Feinberg, better known as the Obama administration’s pay czar, announced yesterday that he’d cut salaries on top executives at 5 companies that are still using bailout cash. [More]
