stacks




American International Group

Secret Banking Cabal Emerges From AIG Shadows

Greenberg, New York AG Settle Long-Running Reinsurance Dispute

Ex-AIG Chief Greenberg to Pursue Spitzer Defamation Lawsuit

Maurice Greenberg Loses Bid for Damages From AIG Bailout

SEC Charges American International Group and Others in
Brightpoint Securities Fraud; AIG Agrees To Pay $10 Million Civil Penalty

“Today’s agreement settles the indisputable fact that Mr. Greenberg has denied for 12 years: that Mr. Greenberg orchestrated two transactions that fundamentally misrepresented AIG’s finances.” - New York state Attorney General Eric Schneiderman, February 12, 2017

"Between July and September of 2008, AIG spent more than $2 million to lobby Congress, the Treasury Department, the Federal Reserve and the White House." - Ben Protes

"AIG, in addition to being one of the largest providers of traditional lines of insurance, was a leading participant in the market for credit default swaps, instruments that are linked to corporate loan rates.

In the aftermath of the Lehman Brothers bankruptcy and the Fannie and Freddie takeover, AIG was exposed to significant CDS losses. " - Mark Jickling

"Under the Paulson Plan, the government would buy mortgages and mortgage-backed securities for more than they are worth.

Among the companies that most vigorously pushed the idea were the American International Group and Freddie Mac.

The Federal Reserve and the Treasury think that the prices have fallen too far.

The goal is to recapitalize the banking system by placing a floor under the prices of securities that never should have been issued." - Floyd Norris



dow jones


September 16, 2008 American International Group, an insurance corporation, receives an $85 billion infusion from the Federal Reserve for an 80% non-voting equity stake.

AIG, at the time the 18th-largest publically traded corporation on Earth, was delisted from the Dow Jones Industrial Average on September 22, 2008.

The AIG family of corporations, the largest underwriter of commercial and industrial insurance, held at this time a $447 billion portfolio of credit-default swap contracts.


"Now AIG's solvency and liquidity is in our national interest.

It operates in 130 countries.

There's no entity like it in the world.

It serves many, many purposes for the US.

So to have AIG go down would be very negative to the US' interest, and business in those countries.

They won't understand our government let this happen to it.

I think it would undermine the credibility of our own government.

When you're starting to unwind counterparty transactions worldwide in a incorporation the size of AIG, it will take about ten years to do.

What was happening was short sellers would short AIG stock, so that would make the stock go down.

And because of the stock going down they would have to put up more collateral on their credit default swap business.

The governor of New York has worked with the insurance department to modify the regulations permitting AIG subsidiaries to move up about $20 billion of excess assets as a means of helping.

On the regulatory front, other than a bridge loan, that's all they need." - Maurice R. Greenberg, September 17, 2008, Council of Foreign Relations

Maurice Raymond "Hank" Greenberg, previous chairman and controlling owner of AIG insurance, manager of the third largest capital investment pool in the world, was floated as a possible CIA Director in 1995.

Former A.I.G. Executives Reach Settlement in Accounting Fraud Case

January 2009 Three trustees, Jill Considine (NY Fed, Depository Trust & Clearing Corp., Ambac Financial Group Inc.), Chester Feldberg (NY Fed, Barclays Americas) and Douglas Foshee (NY Fed, Halliburton & El Paso Corp.), are appointed to control AIG by the New York Federal Reserve Bank to oversee the federal government's 77.9% equity stake.

The New York Fed retains the right to remove the trustee.

New York Fed President William Dudley worked until 2007 as the chief economist for Goldman Sachs.

Stephen Friedman, who resigned as New York Fed chairman May 7, was once CEO of Goldman Sachs.

JP Morgan Chase CEO Jamie Dimon and Richard Carrion, chairman and CEO of Banco Popular de Puerto Rico, are also on the New York Fed board, along with General Electric CEO Jeffrey Immelt.

May 2009 The US Treasury loans $182.5 billion to American International Group to pay off credit default swap contracts.

The following banks received bailout funds through AIG on defaulting securties:

Deutsche Bank AG ($5.4 billion), Société Générale ( $11 billion), Goldman Sachs ($8.1 billion), Citadel Investment Group, Calyon, Barclays, Bank of America, Merril Lynch, Union Bank of Switzerland, DZ Bank, Bank of Montreal, Rabobank, Royal Bank of Scotland, HSBC and Barclays.


"Few observers outside Wall Street understand that the hundreds of billions of dollars pumped into by the Federal Reserve of New York and Treasury, funds used to keep the creditors from a default, has been used to fund the payout at face value of credit default swap contracts or "CDS," insurance written by AIG against senior traunches of collateralized debt obligations.

The Paulson/Geithner model for dealing with troubled financial institutions such as AIG with net unfunded obligations to pay CDS contracts seems to be to simply provide the needed liquidity and hope for the best.

Until we rid the markets of CDS, there will be no restoring investor confidence in financial institutions." - Chris Whalen


American International Group had four public relations firms on its payroll - Kekst & incorporation, Sard Verbinnen, Hill & Knowlton and Burson-Marsteller - in addition to its own PR staff.

On a conference call, AIG chief restructuring officer Paula Reynolds quipped that it might be 'better to go to jail' than have to deal with the intricacies of securities laws.

Michael Weisskopf reports that Sard Verbinnen & Co. "helps to structure statements on the bailout, Kekst & Co. focuses on sales of assets to pay back federal loans, Burson-Marsteller handles controversial issues and Hill & Knowlton fields inquiries from Capitol Hill and prepares congressional testimony for corporation officials."

AIG pays $218 million in bonuses.

73 AIG employees are paid over $1 million each.

Defense contractors in Iraq were required to buy life and casualty coverage for their workers.

AIG estimated the cost of insurance would be $73.1 million from 2003 to 2006 but charged Kellogg, Brown & Root nearly four times that amount $284.3 million.

"The Federal Reserve is buying an insurance corporation?

Where exactly is that covered in the Federal Reserve Act?

The banking industry just bought the world's largest insurance incorporation, and they used taxpayer money to do it.

The Federal Reserve is a private corporation owned by member banks.

The Federal Reserve returns the interest on the bonds it "monetizes" to the government after deducting operating costs and a 6% guaranteed return for bank shareholders.

The upshot is the American people will be paying interest to the banks to bailout the banks from their own follies!" - Ellen Hodgson Brown

"We are mortgaging the future of our children and grandchildren at record rates, and that is not only an issue of fiscal irresponsibility, it's an issue of immorality." - David Walker, former Comptroller General of the US

"Recovery will fail unless we break the financial oligarchy that is blocking essential reform." - Simon Johnson, former chief economist at the International Monetary Fund





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This website defines a new philosophical ideology to which its author adheres. The author feels that the falsification of reality outside personal experience has forged a populace unable to discern propaganda from reality and that this has been done purposefully by an international corporate cartel through their agents who wish to foist a corrupt version of reality on the human race. Religious intolerance occurs when any group refuses to tolerate religious practices, religious beliefs or persons due to their religious ideology. This web site marks the founding of a mystery school aptly named The Truth of the Way of the Lumière Infinie - a rational gnostic mystery religion based on reason which requires no leap of faith, accepts no tithes, has no supreme leader, no church buildings and in which each and every individual is encouraged to develop a personal relation with the Creator and Sustainer through the pursuit of the knowledge of reality in the hope of curing the spiritual corruption that has enveloped the human spirit. The tenets of The Truth of the Way of the Lumière Infinie are spelled out in detail on this web site by the author. Violent acts against individuals due to their religious beliefs in America is considered a "hate crime."

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