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Bernanke defends AIG bailout in court

Ben Bernanke

Former Federal Reserve Chairman Ben Bernanke took the stand in the American International Group bailout trial Thursday afternoon appearing slightly combative and vaguely annoyed at having to testify.

Geithner on AIG: 'We were moving kind of quickly'

Timothy Geithner

Timothy Geithner backed away from two of his more provocative assessments of the 2008 bailout of American International Group Inc., in a day of courtroom testimony marked by careful answers and a lack of recollection about the details of the financial rescue he helped oversee.

Paulson says AIG bailout was meant to send a message

Hank Paulson

Former Treasury Secretary Henry Paulson’s testimony that American International received harsher terms than other institutions getting government bailouts in the financial crisis sets the stage for Tuesday’s examination of a second architect of the rescue.

Ex-AIG CEO's $25bn bailout lawsuit to go ahead

Gavel

A federal judge has rejected the United States' bid to dismiss a more than $25bn lawsuit filed by Maurice 'Hank' Greenberg, the former chief executive of American International Group Inc, over the insurer's government bailout, clearing the way for a September 29 trial.

AIG cuts workforce by 3% after earnings beat

Axe Header

American International Group reported quarterly earnings and revenue that easily beat analysts' expectations on Thursday and announced it will cut its workforce by 3 percent because of a charge taken in the fourth quarter.

AIG boss backs away from lynching comments

Hand On Mouth

The CEO of bailed-out insurance giant American International Group has backed away from inflammatory comments in which he compared the public anger over bonuses to the lynching of African Americans in the Deep South.

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Ben Bernanke

Bernanke defends AIG bailout in court

Former Federal Reserve Chairman Ben Bernanke took the stand in the American International Group bailout trial Thursday afternoon appearing slightly combative and vaguely annoyed at having to testify.