Wednesday, May 6, 2020

The American International Group A Leading International...

The American International Group â€Å"is a leading international insurance organization serving customers in more than 100 countries.† When this organization crashed in September 2008 it saved by the skin of its teeth by the Federal Reserve which owned by the government proved a bailout for The American International Group. This bailout caused The American International Group to become one of the most debated player in the finical crises of 2008–2009. The American International Group is run by a group of individuals who only were looking out for themselves and solely because of this the company eventually met its downfall, however it would soon rise again in the near future. The company is a company involved â€Å"in a high-stakes risk-taking scheme† this is supported by managers and employees of AIG. The company had around 116,000 employees, about 500 employees per unit. However what brought the company down was its Financial Products unit this unit solely spe cializes in products, â€Å"and other financial contracts that were tied to subprime mortgages† or merchandises. This unit had generated billions, and billions of profit for The American International Group, however its dealings were risky and possibly illegal. The former CEO Maurice â€Å"Hank† Greenberg of The American International Group had suspected that the Financial Products unit were involved in some risky possibly illegal activity, this was brought to surface after Liddy had admitted this to former Treasury Secretary HankShow MoreRelated Aetna: A Target Market Analysis Essay1394 Words   |  6 Pagesnecessity and while analyzing the company’s strategies and structure, one can recognize the un-doubtful organization in identifying their target market. 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