Tag Archives: AIG

The U.S. Department of the Treasury announced Friday that it expects proceeds from the the sale of its American International Group, Inc. (AIG) common stock to be about $5 billion.

American International Group Inc. (AIG) filed a lawsuit Monday against Bank of America claiming the bank's subsidiaries, Countrywide and Merrill Lynch, withheld information from its investors regarding loan quality. AIG hopes to secure more than $10 billion from BofA to recover losses resulting from the alleged non-disclosures. The insurance company accuses BofA of giving investors a false account of the performance of its residential mortgage-backed securities. BofA maintains that AIG is responsible for its own losses and rejects AIG's accusations of fraud.

The passing of the Dodd-Frank Reform Act last summer was hailed as the end of ""too-big-to-fail"" and the end of corporate bailouts. But in a report to be presented to Congress Wednesday, Neil Barofsky, head of the group charged with overseeing the government's handling of the Troubled Asset Relief Program (TARP) says the ""too-big-to-fail"" problem has not been solved; in fact, it's gotten worse, thanks to implicit guarantees that came with the massive bailouts of companies such as Citigroup, AIG, and Bank of America.