AIG is a huge American based financial institution.
It has been in the news a lot recently, because the US Government has pumped a huge amount of money into it to help it survive the current financial crisis.
First, watch this video for the story.
Next, read each short article in turn and answer all questions
1) AIG- What does this giant do? (Background on AIG)
1a) Describe briefly what AIG does, and how many people it employs.
1b) How much was Robert Willumstad paid as AIG's Chairman in 2008?
1c) How much did the US Government set aside as a AIG's rescue package in September 2008?
2) AIG failure would hurt others (Why the US Government bailed out AIG)
2a) Explain why the US Government decided to bail out AIG in 2008.
2b) What criticisms of the US Governments decision can you find in this article?
3) AIG to cut further bonuses (Why AIG wants to pay the bonuses)
3a) How much has AIG received from the US Government so far?
3b) What is the key reason given by AIG's Chairman Edward Liddy to explain why AIG must pay the bonuses to its workers?
3c) What economy of scale can you identify in this article?
4a) What actions has the US Government taken in response to AIG’s decision to pay bonuses?
4b) What is the value of bonuses owed to AIG executives?
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