Aig, Financial Crisis | featured news

Four and a half years after insurance giant AIG collapsed, leading to the biggest bailout of the financial crisis, former CEO Hank Greenberg has one message: Don't blame me....

American International Group Inc and the U.S. government agreed on a plan that would see the insurer repay taxpayers fully for bailing it out at the height of the financial crisis.

The company's situation reflects problems throughout the life insurance industry as investments suffer. Further strain could bring about a second financial crisis.

U.S. stock markets plunged by 4 percent to close at the lowest levels in nearly 12 years, igniting fresh concern over the depth of the financial crisis and where the bear market would find a bottom.