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Archive for Thursday, June 21, 2012

Kansas receives $560K from settlement with AIG

June 21, 2012

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— Kansas has received more than $560,000 from a multistate settlement with insurance company American International Group Inc.

Kansas Insurance Commissioner Sandy Praeger said Wednesday the money has been deposited and will be used to support general government programs.

The agreement settled a complaint from state regulators that AIG underreported workers' compensation premiums in past years.

AIG agreed to pay a $100 million penalty plus $47 million in taxes and other assessments under the settlement.

Comments

Bill_Slu 1 year, 10 months ago

Always a settlement and never jail time for the banksters.

This just in... From Bloomberg citing CNBC, which apparently is where Moody's leaked all its data

MOODY’S TO UNVEIL BANK DOWNGRADE AT 4PM EDST: CNBC
CNBC SAYS B OF A L-T DEBT RATING TO BE CUT BY 1 NOTCH BY MOODYS
CNBC SAYS CITI, JPM AND GS L-T DEBT RATING WILL BE CUT 2 NOTCH

So... this leaves Morgan Stanley with the dreaded 3 notch cut which automatically springs up to $9.6 billion margin calls and memories of AIG?

Assume crash positions.

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