Goldman Sachs and a parade of major European banks, including Deutsche Bank , France's Societe Generale and the UK's Barclays , were major beneficiaries of more than $90 billion of money paid out by AIG in the first three-and-a-half months after its bailout by the U.S. government last September.
Goldman Sachs Group Inc and a parade of European banks were the major beneficiaries of $93 billion in payments from AIG -- more than half of the U.S. taxpayer money spent to rescue the massive insurer.
Bailed out insurance giant American International Group Inc used $107.8 billion dollars from September 16, 2008 to the end of the year to fulfill obligations to customers, revealing for the first time the names of the firms receiving funds.
Warren Buffett's Berkshire Hathaway was stripped of its 'AAA' credit rating by Fitch, barely hours after S&P cut General Electric Co's top-tier rating, as the global financial crisis pummels America's corporate titans.
Stocks rose on Wednesday, with the benchmark S&P 500 index attempting the first two-day advance in a month, as investors held out hope that Washington would restore confidence in banks by relieving them of money-losing assets.
U.S. stocks rose on Wednesday, with the benchmark S&P 500 index attempting its first two-day advance in a month, as investors bet Washington would restore confidence in banks by relieving them of money-losing assets.
Stocks rose on Wednesday, with the benchmark S&P 500 index attempting its first two-day advance in a month, as investors bet Washington would restore confidence in banks by relieving them of money-losing assets.
Where, oh where, did AIG's bailout billions go? That question may reverberate even louder through the halls of government in the week ahead now that a partial list of beneficiaries has been published.
Where, oh where, did AIG's bailout billions go? That question may reverberate even louder through the halls of government in the week ahead now that a partial list of beneficiaries has been published.
Where, oh where, did AIG's bailout billions go? That question may reverberate even louder through the halls of government in the week ahead now that a partial list of beneficiaries has been published.
Goldman Sachs Group Inc media sector banker Joseph Ravitch is leaving the company, the Wall Street Journal said, citing people familiar with the matter.
Two top contenders for senior posts at the U.S. Treasury have withdrawn, people familiar with the moves said on Thursday, dealing a blow to Treasury Secretary Timothy Geithner's efforts to build his staff to fight the financial crisis.
Goldman Sachs reinstated coverage of Pfizer Inc with a buy rating and added the stock to the conviction buy list, saying the world's biggest drugmaker was severely undervalued after its proposed acquisition of smaller rival Wyeth.
Goldman Sachs is looking to sell some of its Indian investments, including a 5 percent stake in the National Stock Exchange (NSE), the Daily News and Analysis said on Thursday, citing people familiar with the development.
U.S. stocks slid to 12-year lows on Monday as a record $61.7 billion loss for AIG and another government bailout for the insurer heightened concerns about the extent of the damage to the financial system.
U.S. stocks slid to 12-year lows on Monday as a record $61.7 billion loss for AIG and another government bailout for the insurer heightened concerns about the extent of the damage to the financial system.
HSBC launched Britain's biggest rights issue, raising 12.85 billion pounds ($18.1 billion) on Monday to help it overcome big losses in the United States and exploit the woes of weaker rivals.
Stock index futures slid on Monday, putting Wall Street on track to extend a global rout as embattled insurer American International Group's report of a $61.7 billion quarterly loss suggested the financial crisis is worsening.
HSBC launched a 12.5 billion pound ($17.7 billion) rights issue on Monday to shore up its balance sheet after annual profit more than halved and as bad debts soared in the United States.
HSBC launched a 12.5 billion pound ($17.7 billion) rights issue on Monday to shore up its balance sheet after annual profit more than halved and as bad debts soared in the United States.
Berkshire Hathaway Inc , Warren Buffett's insurance and investment company, barely broke even in the fourth quarter because of losses on derivatives contracts tied to the stock market.
HSBC , Europe's biggest bank, plans to raise more than 12 billion pounds ($17 billion) in a share sale aimed at propping up its capital base during the global economic crisis, the Financial Times reported on Saturday.
