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AIG's corporate headquarters are in New York City and the company also has offices around the world. AIG serves 87% of the Fortune Global 500 and 83% of the Forbes 2000. [11] AIG was ranked 60th on the 2018 Fortune 500 list. [12] According to the 2016 Forbes Global 2000 list, AIG is the 87th largest public company in the world. [13]
Lehman Brothers declared bankruptcy on 15 September 2008, after the Secretary of the Treasury Henry Paulson, citing moral hazard, refused to bail it out. [11] [12] AIG received an $85 billion emergency loan in September 2008 from the Federal Reserve. [13] which AIG wais expected to repay by gradually selling off its assets. [14]
Morgan Housel: When did AIG go off track, ... They say that if AIG had gone bankrupt in September 2008 it would have caused larger systemic problems, and that since there were no private market ...
AIG Financial Products Corporation (AIGFP) is a subsidiary of the American International Group, headquartered in New York, New York, with major operations in London. The collapse of AIG Financial Products, headquartered in Wilton, Connecticut , is considered to have played a pivotal role in the global financial crisis of 2008–2009 .
April 2, 2007: Major subprime lender New Century Financial files for bankruptcy. The Dow closes at 12,382.30, up 0.2%. ... March 2, 2009: AIG reports that it has lost $62 billion in the fourth ...
Jan 8 (Reuters) - American International Group Inc (AIG), the insurer rescued by the U.S. government in 2008 with a bailout that ultimately totaled $182 billion, may now join a lawsuit against the ...
Chapter 11 bankruptcy and liquidation financial company [58] April 10, 2009: New Frontier Bank: Chapter 11 bankruptcy and liquidation Bank [59] April 17, 2009: American Sterling Bank: Metcalf Bank: Bank [60] April 24, 2009: American Southern Bank: Georgia Department of Banking and Finance: Bank $ 216,600,000 [61] May 8, 2009: Stanford Bank ...
However, AIG did not have the financial strength to support its many CDS commitments as the crisis progressed and was taken over by the government in September 2008. U.S. taxpayers provided over $180 billion in government loans and investments in AIG during 2008 and early 2009, through which the money flowed to various counterparties to CDS ...