Filed Under:Carrier Innovations, Regulation/Legislation

AIG Bailout Saved Economy From Utter Collapse, Geithner, Paulson Tell Congress


Had the U.S. government not taken action to bail out American International Group, it would have proven to be an economic catastrophe for the nation, Treasury Secretary Timothy Geithner and his predecessor, Henry Paulson, both insisted before a skeptical congressional committee last week.

Their comments came at a hearing before the House Oversight and Government Reform Committee, which has questioned all elements of Federal Reserve and U.S. Treasury actions to supply billions of dollars to bail out the insurance conglomerate and pay its bank trading partners in full for claims against depreciated assets.

Featured Video

Most Recent Videos

Video Library ››

Top Story

20 of the wealthiest places in America

If you want to build your roster of high-net-worth clients, these are the cities you should be targeting.

Top Story

What grade does your state get for its insurance regulations?

Eight states received an “A” grade, and one state received an “F.” Insurance is regulated almost entirely by the state level, and here's a report card on how the states are doing.

More Resources


eNewsletter Sign Up

Carrier Innovations eNewsletter

Critical news on the latest tech solutions, information security, analytics and data tools and regulatory changes to help decision-makers at insurance carriers keep their business thriving – FREE. Sign Up Now!

Mobile Phone

Advertisement. Closing in 15 seconds.