aig, AIG Debt, American International Group, ceos, credit crisis, Credit Crunch, Martin Sullivan, Private Equity
aig, AIG Debt, American International Group, ceos, credit crisis, Credit Crunch, Martin Sullivan, Private Equity

AIG's Debt Problems Could Land CEO In Hot Water

CNBC   |  Charlie Gasparino   |   February 11, 2008 03:32 PM

Read More: Aig, AIG Debt, American International Group, Ceos, Credit Crisis, Credit Crunch, Martin Sullivan, Private Equity, Breaking Business News
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American International Group's disclosure that its losses from risky debt may be billions of dollars more than previously reported could eventually put CEO Martin Sullivan's job in jeopardy, people within the company told CNBC.

Earlier Monday, the world's largest insurer disclosed that the value of some of its risky debt portfolio had plunged by $5.96 billion, not $1.6 billion as AIG reported earlier.

The disclosure cast doubt on AIG's past contention that it didn't face major problems stemming from the credit crisis that has slammed other financial institutions.

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- BC33 See Profile I'm a Fan of BC33 permalink

But he will probably get millions in bonuses anyway, right?

    Favorite    Flag as abusive Posted 09:01 AM on 02/12/2008
- tililek See Profile I'm a Fan of tililek permalink

why the worry about Sullivan? Shouldn't the concern be for the insured?

    Favorite    Flag as abusive Posted 04:05 PM on 02/11/2008
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