The AIG debacle : global impact and the need for government intervention

著者

    • Wayland, Peter A.

書誌事項

The AIG debacle : global impact and the need for government intervention

Peter A. Wayland, editor

(Global economic studies series)

Nova Science Publishers, c2010

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注記

Includes bibliographical references and index

内容説明・目次

内容説明

American International Group, Inc. (AIG) (NYSE: AIG) is an American insurance corporation. According to the 2008 Forbes Global 2000 list, AIG was once the 18th-largest public company in the world. It was listed on the Dow Jones Industrial Average from April 8, 2004 to September 22, 2008. AIG suffered from a liquidity crisis when its credit ratings were downgraded below "AA" levels in September 2008. The United States Federal Reserve Bank on September 16, 2008, created an $85 billion credit facility to enable the company to meet increased collateral obligations consequent to the credit rating downgrade, in exchange for the issuance of a stock warrant to the Federal Reserve Bank for 79.9% of the equity of AIG. The Federal Reserve Bank and the United States Treasury by May 2009 had increased the potential financial support to AIG, with the support of an investment of as much as $70 billion, a $60 billion credit line and $52.5 billion to buy mortgage-based assets owned or guaranteed by AIG, increasing the total amount available to as much as $182.5 billion. This book consists of public documents which have been located, gathered, combined, reformatted, and enhanced with a subject index, selectively edited and bound to provide easy access.

目次

  • Preface
  • AIG's Impact on the Global Economy: Before, During & After Federal Intervention
  • Capital Markets Subcommittee Hearing Statement addressed to Mr, Edward Liddy, Chairman & Chief Executive Officer for American International Group (AIG)
  • Testimony of Rodney Clark, Managing Director, Ratings Services, Standard & Poor's Financial Services before the Subcommittee on Capital Markets, Insurance & Government Sponsored Enterprises
  • Opening Statement of Chairman Paul E Kanjorski before the Subcommittee on Capital Markets, Insurance & Government Sponsored Enterprises
  • Testimony of Mr. Edward M Liddy, Chairman & Chief Executive Officer, American International Group (AIG) before the House Financial Services Committee on Capital Markets, Insurance & Government-Sponsored Enterprises
  • Statement by Rep. Carolyn McCarthy before the Subcommittee on Capital Markets, Insurance & Government Sponsored Enterprises, Financial Services Committee
  • Statement of Scott M Polakoff, Acting Director, Office of Thrift Supervision before the Subcommittee on Capital Markets, Insurance & Government Sponsored Enterprises
  • Federal Financial Assistance: Preliminary Observations on Assistance Provided to AIG - Statement of Orice M Williams, Director of Financial Markets & Community Development (GAO)
  • Ongoing Government Assistance for American International Group (AIG)
  • Statement by Rep. Michele Bachmann before the House Financial Services Committee Hearing on Oversight of the Federal Government's Intervention at AIG
  • Statement by Ben S Bernanke, Chairman, Board of Governors of the Federal Reserve System, before the Committee on Financial Services -
  • Statement by William C Dudley, President & Chief Executive Officer of the Federal Reserve Bank of New York before the Committee on Financial Services
  • Statement by Timothy F Geithner, U.S. Secretary of the Treasury before the Committee on Financial Services
  • Opening Statement of Congressman Paul E Kanjorski, House Committee on Financial Services before the Hearing on Oversight of the Government's Intervention at AIG
  • Report Pursuant to Section 129 of the Emergency Economic Stabilization Act of 2008: Restructuring of the Government's Financial Support to AIG
  • Index.

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