Here Comes Trouble: Stories from My Life

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Articles tagged with: “AIG”

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November 21st, 2010

Flaws can cancel life insurance — after death

American General Life Insurance Co. markets its policies as protection for "the hopes and dreams of American families" — a promise Ian Weissberger took to heart during his losing battle with Lou Gehrig's disease. But after the Cathedral City mortgage broker died in 2005, American General cancelled his life insurance ... continue reading

August 12th, 2010

Elizabeth Warren’s Meeting at the White House

Elizabeth Warren this afternoon met at the White House with David Axelrod and Valerie Jarrett, where the possibility of her heading the Consumer Financial Protection Bureau was discussed, but not decided on, a White House official confirms. President Obama did not meet with Warren today. “The President believes that Elizabeth ... continue reading

May 25th, 2010

Ask Goldman Sachs to Give It Back!

Sometimes when you explain to people that some of the most complicated financial transactions in the country were just side bets, they don't really believe you. They think it's an oversimplification. We couldn't have wrecked the global economy because some people made side bets. These are sophisticated bankers with sophisticated ... continue reading

Dylan Ratigan

Host, Dylan Ratigan Show

April 29th, 2010

Judd Gregg and Ben Nelson: More Socialism Please

As we find our economy subsisting on massive government spending and no-strings-attached bailouts, borrowed, of course, from future generations, what solutions do the same leaders who got us into this mess offer? You already know the answer -- more government handouts.The latest gambit?Politicians like Judd Gregg and Ben Nelson are ... continue reading

April 26th, 2010

Financial reform nears test in Senate

WASHINGTON – The most sweeping overhaul of financial regulation since the Great Depression was on track to fail its first procedural test on Monday in the Senate, where Republicans vowed to block the Democratic bill.As Wall Street reeled from revelations out of a fraud case against Goldman Sachs, both sides ... continue reading

Dylan Ratigan

Host, Dylan Ratigan Show

April 19th, 2010

A Patriot's Day Call to Arms

This letter is a call to (electronic) arms on Patriots' Day. Mr. President, please show the American people the AIG emails. In the wake of the disclosures associated with Friday's government fraud accusations against Goldman, Sachs & Co., one of our nation's wealthiest, largest and most politically well-connected banks, it ... continue reading

March 18th, 2010

Dodd’s Chief Counsel Bought Financial Stocks During 2008 Crisis

March 18 (Bloomberg) -- Senate Banking Committee Chairman Christopher Dodd’s chief counsel in 2008 traded stock in Morgan Stanley, Wells Fargo & Co., American International Group Inc. and other rescued companies as the panel considered legislation to address the credit crisis, according to her financial disclosure form filed with the ... continue reading

March 6th, 2010

Transcript reveals anger of AIG employees toward politicians, public

During the national furor that erupted last year after American International Group paid more than $165 million in bonuses, the voices of those vilified for receiving the payments remained silent, at least in public. But behind closed doors, employees at AIG's Financial Products division -- the very unit whose trading ... continue reading

Dean Baker

Co-Director, CEPR

February 15th, 2010

Obama and the 'savvy' bankers

In an interview, the US president described the Goldman Sachs CEO as 'savvy'. So how did he and his crew use their wisdom? Last week, when President Obama was asked about the $9m dollar bonus for Goldman Sachs CEO Lloyd Blankfein, he described Blankfein as a savvy businessman, adding that ... continue reading

February 11th, 2010

The Lobbying-Media Complex

President Obama spent most of December 4 touring Allentown, Pennsylvania, meeting with local workers and discussing the economic crisis. A few hours later, the state's former governor, Tom Ridge, was on MSNBC's Hardball With Chris Matthews, offering up his own recovery plan. There were "modest things" the White House might ... continue reading

January 27th, 2010

Geithner draws fire defending Fed on AIG bailout

WASHINGTON – Democrats and Republicans alike pummeled Treasury Secretary Timothy Geithner on Wednesday over his role in the $180 billion bailout of insurance giant AIG Inc., venting public anger over Wall Street's return to prosperity while 10 percent of Americans are still jobless.Geithner, one of the original architects of the ... continue reading

January 23rd, 2010

Lawmakers Ask for Review of AIG Bailout

Two House lawmakers asked Congress' investigative arm on Thursday to review the Federal Reserve's role in the rescue of the insurer American International Group Inc. The request came from Rep. Edolphus Towns D-New York, chairman of the House Oversight and Government Reform Committee, which is conducting its own probe into ... continue reading

Dylan Ratigan

Host, Dylan Ratigan Show

January 12th, 2010

The Case Against Geithner

As we sit here today, Wall Street continues to exploit a policy of government-sponsored giveaways and secrecy to pay themselves billions. Record-setting bonuses due to banks like Goldman Sachs as early next week. Yet instead of acting as our cop, Secretary Tim Geithner has become central to what may be ... continue reading

January 9th, 2010

House panel wants Geithner to testify about New York Fed and AIG

The chairman of the House oversight committee turned the spotlight Friday once again on the government's much-maligned bailout of American International Group, saying he would ask Treasury Secretary Timothy F. Geithner to testify about whether company executives were told to withhold key details about how they were spending taxpayer money. ... continue reading

January 7th, 2010

Tip of the Iceberg

In a December New York Times op-ed, we called for the full public release of AIG email messages, internal accounting documents and financial models generated in the last decade. Today, a Bloomberg story revealed that under Timothy Geithner’s leadership, the Federal Reserve Bank of New York told AIG to withhold ... continue reading

January 7th, 2010

Geithner’s Fed Told AIG to Limit Swaps Disclosure

Jan. 7 (Bloomberg) -- The Federal Reserve Bank of New York, then led by Timothy Geithner, told American International Group Inc. to withhold details from the public about the bailed-out insurer’s payments to banks during the depths of the financial crisis, e-mails between the company and its regulator show. AIG ... continue reading

January 6th, 2010

'Big is bad' catches on in Congress

The populist angst aimed at Wall Street banks is already spilling into Senate deliberations on regulatory reform, and a powerful new sentiment — big is bad — is being echoed by liberals and conservatives alike.The anger at the nation’s financial behemoths is taking shape in a variety of ways, most ... continue reading

January 6th, 2010

Chris Dodd to step aside

Embattled Connecticut Sen. Chris Dodd (D) has scheduled a press conference at his home in Connecticut Wednesday at which he is expected to announce he will not seek re-election, according to sources familiar with his plans.Dodd's retirement comes after months of speculation about his political future, and amid faltering polling ... continue reading

December 23rd, 2009

AIG executives' promises to return bonuses have gone largely unfulfilled

When word spread earlier this year that American International Group had paid more than $165 million in retention bonuses at the division that had precipitated the company's downfall, outrage erupted, with employees getting death threats and President Obama urging that every legal avenue be pursued to block the payments.New York ... continue reading

November 12th, 2009

Report: AIG CEO ready to quit over pay constraints

NEW YORK — After just three months as head of embattled insurer American International Group, Robert Benmosche has threatened to leave his post as he struggles to deal with heavy government oversight and restrictions on what the bailed-out company can pay employees, according to a published report.Citing unnamed people familiar ... continue reading

October 27th, 2009

Here Come the Unions

On Tuesday morning, in Chicago, the unions came to town. It was the final day of the rolling protest dubbed The Showdown in Chicago, a confrontation with the American Bankers Association, whose members had gathered for their annual meeting. With a crowd estimated at 5,000, it was without a doubt ... continue reading

October 27th, 2009

New York Fed's Secret Choice to Pay for Swaps Hits Taxpayers

Oct. 27 -- In the months leading up to the September 2008 collapse of giant insurer American International Group Inc., Elias Habayeb and his colleagues worked nights and weekends negotiating with banks that had bought $62 billion of credit-default swaps from AIG, according to a person who has worked with ... continue reading

Dean Baker

Co-Director, CEPR

October 22nd, 2009

The $200,000 Insult: Come to Chicago

Kenneth Feinberg, President Obama's compensation czar for bailed out banks, appears to have taken some genuine steps to rein in excessive executive compensation at the basket case banks that received the most TARP money. He cut cash salaries by 90 percent in some cases and reduced overall compensation for the ... continue reading

October 18th, 2009

REVIEW: Capitalism: A Love Story

Michael Moore’s new movie, Capitalism: A Love Story is a rare treasure. It will make you laugh, cry, and leave the theater feeling something. Movies nowadays rarely make you do one of those three. It’s Moore’s best movie, by far.In the weeks leading up to the movie’s release, Moore talked ... continue reading

October 4th, 2009

For Those of You on Your Way to Church This Morning ...a note from Michael Moore

Friends, I'd like to have a word with those of you who call yourselves Christians (Muslims, Jews, Buddhists, Bill Maherists, etc. can read along, too, as much of what I have to say, I'm sure, can be applied to your own spiritual/ethical values). In my new film I speak for ... continue reading

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If you have a moment today, I hope you can read the obituary for my father Francis (Frank) Moore, who died this past Saturday at the age of 92: Francis...

Apr 22nd
6:33 PM
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My father, Francis (Frank) Moore, passed away this morning a few months shy if his 93rd birthday. He was a great dad I am blessed to have had him in my life. I...

Apr 20th
2:58 AM
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Time to put the cuffs on Chris Christie -- not for the bridge scandal, but for this: Chris Christie's $300m pension proposal broke state anti-corruption...

Apr 18th
7:31 PM
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George W. Bush Debuts New Paintings Of Dogs, Friends, Ghost Of Iraqi Child That Follows Him... www.theonion.com President Bush has a new hobby -- painting! --...

Apr 17th
7:28 PM
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Big new story from David Sirota and Pando on top Christie adviser and appearance of corruption at New Jersey's pension fund: REVEALED: Gov....

Apr 17th
12:41 PM
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FBI Uncovers Al-Qaeda Plot To Just Sit Back And Enjoy Collapse Of United States www.theonion.com WASHINGTON—The FBI announced today that it has uncovered a...

Apr 15th
3:28 PM
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Revealed: Rahm Emanuel's top donor bought stock in Marriott just before it was awarded huge contract pando.com As schools are closed and pensions cut,...

Apr 9th
2:00 PM
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I'll be at First Time Fest today in New York City at the screening of my first film, Roger & Me. Loews Village 7 at 12:30 pm. Come see it on the big...

Apr 5th
9:48 AM
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Revealed: Rahm Emanuel cuts public pensions, diverts money to benefit campaign donors pando.com If you've read the financial news out of Chicago the last...

Apr 4th
2:19 PM
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Please take a moment today to think of Casey Austin Sheehan, son of Cindy and Patrick, who was murdered by U.S. foreign policy in Sadr City, Baghdad ten years...

Apr 4th
2:00 PM
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ICYMI - I've joined this "thunderclap" to support the Connecticut legislators who voted yes on last year's Act Concerning Gun Violence...

Apr 3rd
7:38 PM
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I've joined this "thunderclap" to support the Connecticut legislators who voted yes on last year's Act Concerning Gun Violence Prevention...

Apr 2nd
8:27 PM
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I am opposed to the death penalty, but to every rule there is usually an exception, and in this case I hope the criminals at General Motors will be arrested...

Apr 1st
3:55 PM
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How Long Some in the US Will Survive Under New Health Law ...by Donna Smith www.michaelmoore.com Those who must access care to live and can afford it are not...

Mar 31st
10:13 PM
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Last night, The Good Wife on the East Coast started 40 minutes late due to the overrun of the NCAA basketball game. If you had your DVR set for the show, you...

Mar 24th
5:41 PM
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Watching films today, looking for the ones I'm going to pick for my film festival this summer. I (and a whole bunch of others!) have this thing we put on...

Mar 23rd
4:48 PM
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When the U.S. Health Care System Keeps Killing, Who Cares Enough to Fight? ...by Donna Smith www.michaelmoore.com We have largely forgotten that people are at...

Mar 21st
5:56 PM
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Tell the White House not to give up on Dr. Vivek Murthy's nomination as Surgeon General despite the ferocious opposition from the NRA: Don't give...

Mar 21st
5:38 PM
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This criminal would never see a jail cell, nor would his cronies. In fact, they'd later be rewarded with re-election: Presidential Address on War with...

Mar 19th
9:40 PM
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The crime of the century -- our invasion & slaughter in Iraq -- started 11 years ago tonite in this 7pm (ET) hour, March 19th, 2003: CNN Coverage of...

Mar 19th
9:08 PM
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Washington’s Back-to-the-Future Military Policies in Africa ...by Nick Turse www.michaelmoore.com Nick Turse is an award-winning journalist, historian,...

Mar 17th
4:59 PM
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"I think democracy is the most revolutionary thing in the world." -- Tony Benn, 1925-2014 Tony Benn in 'Sicko'

Mar 14th
10:07 AM
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RIP Tony Benn, one of the UK's greatest leaders: Tony Benn, veteran Labour politician, dies aged 88 www.theguardian.com Former cabinet minister died at...

Mar 14th
9:53 AM
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Please read this important story from K. Ford K.: Am I the Face of the New American Middle Class? www.huffingtonpost.com I began to feel I had slipped so low...

Mar 13th
2:24 PM
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Yesterday Dianne Feinstein revealed that the CIA has been spying on the Senate Intelligence Committee. This is all about the report the committee has produced...

Mar 12th
6:48 PM
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Health Care for All Colorado has brought Mercy Killers, a show written and performed by Michael Milligan about our murderous for-profit healthcare system, to...

Mar 10th
1:08 PM
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Health Care Dramas that Sting and Why We Have to Watch ...by Donna Smith www.michaelmoore.com The realities Milligan has written into the show cut deep into...

Mar 10th
1:02 PM
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Did you know the Lehrer Newshour on PBS has been produced for 20 years by a company owned by conservative cable billionaire John Malone? Me neither. After...

Mar 7th
8:39 PM
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Mr. Obama, if int’l law is so damn crucial . . . | RootsAction.org act.rootsaction.org The Russian intervention deserves criticism. But let’s be clear. The...

Mar 6th
1:21 PM
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