Word: divisional
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Those questions have taken on greater urgency, since it turns out that AIG has become the banking industry's ATM, essentially passing along $52 billion of TARP money to an array of U.S. and foreign financial institutions - from Goldman Sachs to Switzerland's UBS. Those firms were counterparties to the...
While AIG's holdings are diverse, nearly all its losses centered on AIG FP, which until March 2008 was led by its high-rolling president, Joseph Cassano, a tough-talking Brooklyn, N.Y., native who in the past eight years banked $280 million in cash compensation, or exactly $115 million more...
Geithner's failure to reckon quickly with the existence of large retention bonuses for AIG employees in the Financial Products division is perplexing. On Jan. 27, Bloomberg News reported that AIG has offered "about $450 million in retention pay" to the AIG FP staff, a program that AIG confirmed. Representative...
American commanders in Mosul agree that insurgents unseated from elsewhere in Iraq have followed a "path of least resistance" to this northern city. "There were 28 U.S. battalions in Baghdad during the surge as well as lots of Iraqi battalions. Up here there was one battalion," says Brigadier General Robert...
Insufficient boots on the ground, coupled with a lack of basic services such as electricity and water, high unemployment and a disenfranchised Sunni population that until recently was governed by members of the minority Kurdish population, made the city kindling for the insurgency. But things are changing. American troops in...