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Geithner defends AIG bailout

CNN Money - 2 hours 39 minutes ago

Treasury Secretary Tim Geithner said on Thursday that he had no choice but to pay top dollar to business partners of troubled insurer AIG to avert a deeper financial panic last year.

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Net US TARP Costs In Fiscal Year 2009 Estimated At $42 Billion - GAO
Nasdaq - Wed Dec 9, 7:17 pm ET
WASHINGTON -(Dow Jones)- The U.S. estimates its unpopular Troubled Asset Relief Program cost taxpayers a net of $41.6 billion in fiscal year 2009 as expected losses from aid to American automakers and to the American International Group (AIG) offset earnings from other expenditures under the program.
Turkish Insurers Surge on Report AIG Group Seeks Partner
Bloomberg - Tue Dec 8, 8:08 am ET
Dec. 8 (Bloomberg) -- Yapi Kredi Sigorta AS and Aksigorta AS gained on a report American International Group Inc. wants to partner a Turkish insurer. Yapi Kredi Sigorta added 40 kurus, or 4.4 percent, to 9.45 liras at 10:28 a.m., the biggest increase since Oct. 22. Insurer Aksigorta AS, owned by Haci Omer Sabanci Holding AS , advanced 18 kurus, or 3.8 percent, to 4.90 liras.
AIG Execs Could Be Exempt From Pay Cap
TheStreet.com - Tue Dec 8, 2:55 am ET
Some American International Group executives could be exempt from a $500,000 salary cap proposed by U.S. pay czar Kenneth Feinberg, a report says.
Bailed Out AIG Execs: We Want More Money [Let Them Eat Cake]
Gawker - Mon Dec 7, 8:13 am ET
Five AIG executives don't care that the government had to bail their company out because they were utterly inept. They want their full 'compensation' or they'll quit. Which raises the question: what...
AIG's Top Lawyer Tells Pay Czar 'Hands Off My Paycheck'
Law.com - Mon Dec 7, 10:40 pm ET
Anastasia Kelly, general counsel of American International Group , is at the center of another dust-up in the insurer's ongoing battle with the government over executive pay.
AIG Execs Said to Threaten Walk-out Over Pay
New York Times - Mon Dec 7, 6:41 am ET
Five senior executives at American International Group told the insurer last week they may quit if their compensation was cut significantly by the U.S. pay czar, The Wall Street Journal reported on Sunday.
AIG Taps Fed Line for Third Time for $200 Million ILFC Loan
Bloomberg - Mon Dec 7, 5:11 pm ET
Dec. 7 (Bloomberg) -- American International Group Inc., the insurer bailed out by the U.S., amended a credit line to give its plane-leasing unit an additional $200 million after it was unable to tap other sources of funding.
Top AIG execs threaten to quit over pay, WSJ says
Market Watch - Mon Dec 7, 12:55 pm ET
Five top American International Group executives threatened to quit recently in the latest spat over compensation at the government-owned insurer, the Wall Street Journal reports.
AIG execs, pay czar in showdown over salary
Minneapolis-St. Paul Star Tribune - Mon Dec 7, 9:39 pm ET
The Wall Street Journal reported that five high-ranking executives at American International Group Inc. said last week they were prepared to quit if their compensation is cut significantly by the insurer's government overseers, according to people familiar with the matter.
TARP Cannot Cover Stimulus, Experts Say
Investor's Business Daily via Yahoo! News - Mon Dec 7, 6:50 pm ET
The $700 billion Troubled Asset Relief Program has been flexible enough to boost bank capital, bail out Detroit automakers and AIG, and encourage mortgage modifications. But no reading of TARP is broad enough to authorize funds for roads or aid for state budgets -- unless Congress amends it.