Tagged: AIG

AIG repayment plan

American International Group announced they have finalized a repayment plan with the Treasury Department. Mark Williams, a former Federal Reserve Bank examiner who now teaches finance in the School of Management and author of “Uncontrolled Risk” about the fall of Lehman Brothers, offers the following view. “The Treasury would be jumping the gun by cashing […]

AIG bill still hitting taxpayers

The Congressional Oversight Panel says in a scathing report that the government failed to exhaust all options before bailing out the insurance giant American International Group – although the rescue did help the financial system avert collapse.  Nonetheless, the watchdog panel says taxpayers may never be paid back all of the $182 billion funneled to support AIG.  […]

AIG backlash heats up

The heat continues to increase on insurance giant AIG, which got $182 billion in taxpayer bailouts yet gave out $165 million in bonuses.  New York Senator Chuck Schumer says President Obama’s pay czar should be given the power to recover the “outrageous” bonuses.  Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial […]

AIG breaks bonuses promises

Insurance giant AIG, bailed out by taxpayers to the tune of $180 billion, had promised to return $45 million of the $165 million in bonuses it paid despite the bailout.  But most of that remains unpaid, the Washington Post reports.  Former Federal Reserve Bank examiner Mark T. Williams, who teaches finance at BU’s School of […]

AIG reconfiguring its board

Under pressure since admitting paying out milions in bonuses after receiving billions in federal bailout money, insurance giant AIG says it will reconfigure its board to include six new independent directors.  School of Management Professor James Post, an authority on corporate governance and business ethics, says the AIG effort is not a surprise because “the […]

Anger at AIG bonuses could reshape economic landscape

School of Management Professor James Post, an authority on corporate governance and business ethics, in a BU Today Q&A discusses the impact of the furor over the AIG bonuses and how it could impact both the short-term recovery process and the long-term future of executive compensation in the financial services industry. Contact James Post, 617-353-4162, […]

School of Law professor Cornelius Hurley comments on AIG

     

AIG bonuses: Don’t pay, “let them sue”

Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law and former counsel to the Fed Board of Governors, says taxpayer-owned insurance giant AIG should just not pay those executive bonuses and let them sue. “Since the AIG bailout in September, the moribund company has paid out $120B to counterparties and […]

Say ‘no’ to bonuses at bailed-out AIG

Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law (and early in his career responsible for executive compensation at Shawmut National Corporation, now part of Bank of America) says there should be no bonuses at bailed-out insurance giant AIG. “It defies imagination that the Treasury Department would sign off on […]