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AIG
Protecting the American people from another devastating financial crash and the economic wreckage it causes begins with reflecting honestly about the past and trying to learn the right lessons.
They may be unlikely allies. They may have vastly different motivations. But for now, Carl Icahn and Elizabeth Warren can justifiably claim to be on the same side when it comes to systemically important financial institutions. It is a union that bank executives should be very afraid of.
WHAT'S HAPPENING
WHAT'S HAPPENING
Hank Greenberg wasn't happy with his multibillion-dollar government bailout. He wanted more.
As well intended as it could be, the regulator seems to ignore that none of the European insurance companies needed any rescue during the financial crisis and they even contributed to the haircut of Greek debt.
Of all the crazy things people have said about former AIG chief Hank Greenberg's lawsuit claiming the insurance giant's financial-crisis bailout wasn't good enough, the craziest was that he just might win.
Remarkably, Goldman Sachs, one of the richest, most powerful, politically connected (aka Government Sachs) too-big-to-fail Wall Street banks, has demonstrated a Teflon-like ability to bounce back from egregious misdeeds, if not outright illegal conduct, and horrible publicity.
