Seattle‚ Washington danryoung@netzero.net Presented the Spring Meeting of the CAS New Orleans‚ Louisiana May 6‚ 2009 The Story of the AIG Accounting Scandal The Companies The Participants Regulatory Scrutiny Intensifies The Prosecution Case The Defense Case Relevant Laws and Regulations The Fate of the Participants The Companies AIG Overview (2007) World’s largest insurance and financial services company 93‚000 employees Business in 130 countries
Premium Fraud
The Demise of AIG: A Corporate Downfall Crystal Ruff Globe University ABSTRACT This paper focuses on the financial demise of AIG and the corporate culture that pushed it there. It lays out specific factors that contributed to the bailout of the company and the ethical conduct of the executives that contributed to the poor decisions that led the company to a massive failure and ultimately‚ a bailout. Even though the company is on the road to recovery‚ its reputation has been damaged and some
Premium Insurance Ethics Business ethics
Running head: AIG BAILOUT AIG Bailout Clari McGougan‚ Shawna Wilson‚ Keasha Kessler‚ Lashonda Edwards‚ Dale Ballard‚ and Michael Baltzelle University of Phoenix AIG Bailout The main ethics categories and theories involved in the American International Group (AIG) bailout are duty based ethics which has its pros and cons‚ and the theory is deontological which puts the rightness of an action before good. The pros of duty based ethics are equal rights are important to every person
Premium Ethics Deontological ethics Federal government of the United States
Generale‚ Deutsche Bank AG and UBS AG. That’s about half the $66.7 billion that those companies‚ the five biggest beneficiaries of loans and capital infusions for AIG‚ said they spent on pay and benefits last year for employees‚ some of whom created or traded toxic subprime assets that proved deadly for lenders. The bonuses paid by AIG and the banks were allowed under a congressional exemption from compensation limits on companies getting government rescue funds. The Treasury staff requested the
Premium Bank of America Goldman Sachs
likely seen the American International Group (hereinafter AIG) commercial with the little boy who walks into his parent’s room while they are sleeping. When his mother asks if he had a nightmare‚ he says “no” and that he’s worried about his parent’s financial future. After a twenty-second spiel about his worries‚ the father says‚ “Buddy‚ we’re with AIG” and he goes‚ “Oh!” and walks out of the room and (assuming) back to his bedroom.[1] AIG‚ established as a Delaware corporation in 1921 by Maurice
Premium Insurance Federal Reserve System
Was Jamestown a Fiasco? The article Taking Sides has two very interesting points of view. On one side you have Edmund Morgan that makes the argument that the settlement of Jamestown was a fiasco more than a plan. The other side has Karen Kupperman taking the stance that the whole Jamestown settlement was an experiment of trial and error. They both make very compelling arguments and there is truth to both sides. Although I would have to say I agree more with Karen Kupperman on the fact that it
Premium Jamestown Settlement Jamestown, Virginia John Rolfe
Group Presentation: Groupware Fiasco B.C. Polk State College Abstract The Groupware fiasco begins with a struggling human sciences and humanities department at a university that has just experienced radical changes. The dean of the HSH division‚ Dr. Susan Pollard‚ enlists Dr. Eve Gordon to increase the efficiency of the division in her absence and decides the division’s secretaries - suffering from poor communication‚ gossip and animosity about unfair workloads
Premium Decision making
A Contextual Analysis of “Words I Never Said” by Lupe Fiasco “Words I Never Said” is the second single released from Lupe Fiasco’s third album Lasers. This single was released on February 8th‚ 2011 for online download. “Words I Never Said” is a very informative and somewhat opinionated song. Through his lyrics‚ Lupe Fiasco is trying to speak out to the people and let them know what is really going on in the world and how they should pay attention because they play a huge part in it. The lyrics refer
Premium Mind Thought
sat with still treated me as a friend and not as an outsider. Lip Sync’s culture was very interesting in the way that there was a strong sense of competition while still bringing everyone together to show Kennesaw’s culture of community. The Lupe Fiasco concert had a large sense of community as its culture. I’m assuming a large majority of the people didn’t know any of his songs besides Lupe’s most popular one‚ (like myself) but the whole performance was still so much fun and I think that was largely
Premium Fraternities and sororities Georgia
Outsourcing Fiasco Introduction Mentara Bhd (previously known as Mentara Sdn Bhd)‚ which started as a family owned business‚ was incorporated in 1995. The company is involved in distributing a wide range of products including food and beverages‚ home appliances and garments. The founders of the business were Dato Ir Johan Arshad and his wife Datin Jamilah Karim. Dato Johan was an engineer for one of the largest oil companies in Malaysia before he decided to quit and start on his own. In 1995
Premium Internal audit Auditing Audit