While he may be busy in Albany today, Mayor Bloomberg still found time today to announce a $5 million settelement with Bovis Lend Lease, one of the city’s largest general contractors.
Bovis has worked on projects ranging from Riverside South to the Langone Medical Center, as well as the 9/11 Memorial and, infamously, Read More
The U.S. government and hobbled insurer AIG have taken another step toward parting ways. The Treasury announced last night that following a transaction expected to complete on March 15 of next year, AIG will have paid back in full its debt to the New York Federal Reserve and Treasury’s preferred AIG stake will be Read More
The Treasury department announced last night that it has offloaded its remaining stake in humbled megabank Citigroup, freeing the troubled firm and the troubled taxpayer from one another’s grasp.
In fulfillment of a previously announced plan to sell off 2.4 billion Citi shares, the government said it raised $10.5 billion on the sale. Read More
AIG, the U.S. government’s $100 billion-plus foster child, has succeeded in borrowing money from people not named Uncle Sam for the first time since its spectacular 2008 implosion, The Wall Street Journal reports.
According to The Journal, AIG sold $2 billion in three- and 10-year notes at yields that were higher than those of Read More
AIG, the bailed-out insurance giant that often used as a shorthand for everything that’s wrong with American capitalism, today announced a third-quarter loss of $2.4 billion, vs. a profit of $455 million a year ago.
Charges related to payback of the U.S. taxpayer bailout, coupled with writedowns of the value of some of the Read More
AIG, the enormous bailed-out insurance company, announced today that the sale of its ALICO life insurance unit to MetLife and its initial public offering of AIA on the Hong Kong stock exchange have netted billions of dollars to repay the U.S. government, which has generously and repeatedly extended a helping hand to Read More
The Treasury Department has covered up what is probably a $40 billion loss the government took in its efforts to bail out behemoth insurance company AIG, according to the watchdog who monitors the Troubled Asset Relief Program.
The New York Times reports that Neil Barofsky, the special inspector general for TARP, believes a change Read More
Bailed-out insurance giant AIG raised $17.8 billion in an initial public offering of its AIA Asian life insurance business, Bloomberg reports. The IPO marked the largest capital raise in the history of the Hong Kong stock exchange — one of the rare moments in recent memory when AIG set any kind of record for Read More
The U.S. Department of the Treasury has proven to be a pretty decent investor, as returns on its bailout of the financial-services industry have reached 8.2 percent over the past two years, Bloomberg reports.
The Troubled Asset Relief Program, an enduringly controversial emergency measure undertaken in late 2008 to save the financial system from Read More
The U.S. Department of the Treasury, clearly not a long-term “buy and hold” investor of the Warren Buffett stripe, announced today that it plans to sell 1.5 billion shares of Citigroup, reducing what had at one point been a 7.7 billion-share, $45 billion stake in the company.
So far, taxpayers have gotten back $41.6 Read More
